The (Other) Deleveraging

Working Paper No. 12/179

Nopic
Deleveraging has two components--shrinking of balance sheets due to increased haircuts/shedding of assets, and the reduction in the interconnectedness of the financial system. We focus on the second aspect and show that post-Lehman there has been a significant decline in the interconnectedness in the pledged collateral market between banks and... READ MORE...

Publication date: July 2012
ISBN 9781475505276
$18.00

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Publication date: July 2012

English