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Social and Behavioral Sciences Commons™
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Full-Text Articles in Social and Behavioral Sciences
The Leverage Cycle, John Geanakoplos
The Leverage Cycle, John Geanakoplos
Cowles Foundation Discussion Papers
Equilibrium determines leverage, not just interest rates. Variations in leverage cause fluctuations in asset prices. This leverage cycle can be damaging to the economy, and should be regulated.
The Leverage Cycle, John Geanakoplos
The Leverage Cycle, John Geanakoplos
Cowles Foundation Discussion Papers
Equilibrium determines leverage, not just interest rates. Variations in leverage cause fluctuations in asset prices. This leverage cycle can be damaging to the economy, and should be regulated.