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Financial Institutions and Services x Social Sciences x Macroeconomics and Monetary Economics x Game Theory and Bargaining Theory x clear all

Self-fulfilling Credit Market Freezes

Lucian A. Bebchuk and Itay Goldstein.

in The Review of Financial Studies

November 2011; p ublished online September 2011 .

Journal Article. Subjects: Game Theory and Bargaining Theory; Production and Organizations; Money and Interest Rates; Economics; Financial Institutions and Services. 17910 words.

This article develops a model of a self-fulfilling credit market freeze and uses it to study alternative governmental responses to such a crisis. We study an economy in which operating...