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Preventing a Repeat of the Money Market Meltdown of the Early 1930s
Preventing a Repeat of the Money Market Meltdown of the Early 1930s
 
Our Price: $20.00
By John V. Duca
Year: 2010
Pages: 49
Binding Paperback
ISBN 9781437935592

Product Code: 1437935591

Description
 
Analyzes the meltdown of the commercial paper market during the Great Depression, and relates those findings to the recent financial crisis. Theoretical models of financial frictions and information problems imply that lenders will make fewer non-collateralized loans or investments and relatively more extensions of collateralized finance in times of high risk premiums. This study investigates the relevance of such theories to the Great Depression by analyzing whether the increased use of a collateralized form of business lending relative to that of non-collateralized commercial paper can be econometrically attributable to measures of corporate credit/financial risk premiums. Charts and tables.

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