How Long to Read Overborrowing, Financial Crises and ‘Macro-prudential’ Policy

How Long Does it Take to Read Overborrowing, Financial Crises and ‘Macro-prudential’ Policy?

It takes the average reader and 56 minutes to read Overborrowing, Financial Crises and ‘Macro-prudential’ Policy by Javier Bianchi

Assuming a reading speed of 250 words per minute. Learn more

Description

This paper studies overborrowing, financial crises and macro-prudential policy in an equilibrium model of business cycles and asset prices with collateral constraints. Agents in a decentralized competitive equilibrium do not internalize the negative effects of asset fire-sales on the value of other agents' assets and hence they borrow too much" ex ante, compared with a constrained social planner who internalizes these effects. Average debt and leverage ratios are slightly larger in the competitive equilibrium, but the incidence and magnitude of financial crises are much larger. Excess asset returns, Sharpe ratios and the market price of risk are also much larger. State-contigent taxes on debt and dividends of about 1 and -0.5 percent on average respectively support the planner’s allocations as a competitive equilibrium and increase social welfare.

How long is Overborrowing, Financial Crises and ‘Macro-prudential’ Policy?

Overborrowing, Financial Crises and ‘Macro-prudential’ Policy by Javier Bianchi is 55 pages long, and a total of 14,025 words.

This makes it 19% the length of the average book. It also has 17% more words than the average book.

How Long Does it Take to Read Overborrowing, Financial Crises and ‘Macro-prudential’ Policy Aloud?

The average oral reading speed is 183 words per minute. This means it takes 1 hour and 16 minutes to read Overborrowing, Financial Crises and ‘Macro-prudential’ Policy aloud.

What Reading Level is Overborrowing, Financial Crises and ‘Macro-prudential’ Policy?

Overborrowing, Financial Crises and ‘Macro-prudential’ Policy is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Overborrowing, Financial Crises and ‘Macro-prudential’ Policy?

Overborrowing, Financial Crises and ‘Macro-prudential’ Policy by Javier Bianchi is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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