Browsing College of Arts and Science by Author "Fecht, Falko"
Now showing items 1-1 of 1
-
Fecht, Falko; Huang, Kevin X.D.; Martin, Antoine (Vanderbilt University, 2007)We build a model in which financial intermediaries provide insurance to households against idiosyncratic liquidity shocks. Households can invest in financial markets directly if they pay a cost. In equilibrium, the ability ...