Loan sales under asymmetric information
Loans are illiquid assets that can be sold in a secondary market even that buyers have no certainty about their quality. I study a model in which a lender has access to new investment opportunities when all her assets are illiquid. To raise funds, the lender may either borrow using her assets as col...
- Autores:
- Tipo de recurso:
- Fecha de publicación:
- 2010
- Institución:
- Universidad del Rosario
- Repositorio:
- Repositorio EdocUR - U. Rosario
- Idioma:
- spa
- OAI Identifier:
- oai:repository.urosario.edu.co:10336/10829
- Acceso en línea:
- https://doi.org/10.48713/10336_10829
http://repository.urosario.edu.co/handle/10336/10829
- Palabra clave:
- Economía financiera
Loan Sales
Asymmetric Information
Liquidity
Securitization
Inversiones::Modelos Matemáticos
Liquidez (Economía)
Valores
Instituciones financieras
Préstamos::Modelos Matemáticos
- Rights
- License
- http://purl.org/coar/access_right/c_abf2
| Summary: | Loans are illiquid assets that can be sold in a secondary market even that buyers have no certainty about their quality. I study a model in which a lender has access to new investment opportunities when all her assets are illiquid. To raise funds, the lender may either borrow using her assets as collateral, or she can sell them in a secondary market. Given asymmetric information about assets quality, the lender cannot recover the total value of her assets. There is then a role for the government to correct the information problem using fiscal tools. |
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