Macroeconomics and Financial Crises: Bound Together by Information Dynamics by Guillermo L. Ordoñez, Gary B. Gorton

Macroeconomics and Financial Crises: Bound Together by Information Dynamics

Guillermo L. Ordoñez, Gary B. Gorton

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Gary Gorton and Guillermo Ordoñez identify short-term debt, collateral, and information as common elements that are present in all financial crises. Short-term debt is a critical element for storing value over short periods without fear of loss, b...

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