Liquidity Choice and Misallocation of Credit /
This paper studies a novel type of misallocation of credit between investments of varying liquidity. One type of investment is more liquid, id est, its return is more pledgeable, and the other is more productive. Low liquidities of both investment types imply that the allocation of credit is constra...
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| Format: | Journal |
| Language: | English |
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Washington, D.C. :
International Monetary Fund,
2019.
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| Series: | IMF Working Papers; Working Paper ;
No. 2019/284 |
| Online Access: | Full text available on IMF |