Loan sales under asymmetric information
Loans are illiquid assets that can be sold in a secondary market even that buyers have no certainty about their quality. I study a model in which a lender has access to new investment opportunities when all her assets are illiquid. To raise funds, the lender may either borrow using her assets as col...
|Formato:||Documento de trabajo (Working Paper)|
Universidad del Rosario
|Acceso en línea:||http://repository.urosario.edu.co/handle/10336/10829|