E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T12:53:22+00:00Fragility of Resale Markets for Securitized Assets and Policy of Asset Purchases
https://www.bankofcanada.ca/2016/10/staff-working-paper-2016-46/
Markets for securitized assets were characterized by high liquidity prior to the recent financial crisis and by a sudden market dry-up at the onset of the crisis. A general equilibrium model with heterogeneous investment opportunities and information frictions predicts that, in boom periods or mild recessions, the degree of adverse selection in resale markets for securitized assets is limited because of the reputation-based guarantees by asset originators.2016-10-31T15:15:40+00:00enFragility of Resale Markets for Securitized Assets and Policy of Asset Purchases2016-10-31Business fluctuations and cyclesCredit and credit aggregatesEconomic modelsFinancial marketsFinancial stabilityFinancial system regulation and policiesStaff Working Paper 2016-46https://www.bankofcanada.ca/wp-content/uploads/2016/10/swp2016-46.pdfFragility of Resale Markets for Securitized Assets and Policy of Asset PurchasesMartin KunclOctober 2016EE3E32E5GG0G01G2