谁有American economic review的英文全文?里面随便哪个文章的英文全文都可以.我也能找到你给的那个网页，不过文章还是下载不下来啊，我想要的是pdf格式的那个文章。我找了很多网站都不可以
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谁有American economic review的英文全文?里面随便哪个文章的英文全文都可以.我也能找到你给的那个网页，不过文章还是下载不下来啊，我想要的是pdf格式的那个文章。我找了很多网站都不可以
谁有American economic review的英文全文?
里面随便哪个文章的英文全文都可以.
我也能找到你给的那个网页，不过文章还是下载不下来啊，我想要的是pdf格式的那个文章。我找了很多网站都不可以下载
谁有American economic review的英文全文?里面随便哪个文章的英文全文都可以.我也能找到你给的那个网页，不过文章还是下载不下来啊，我想要的是pdf格式的那个文章。我找了很多网站都不可以
Leverage Cycles and the Anxious Economy
Ana Fostel and John Geanakoplos
Abstract
We provide a pricing theory for emerging asset classes,like emerging markets,that are not yet mature enough to be attractive to the general public.We show how leverage cycles can cause contagion,flight to collateral,and issuance rationing in a frequently recurring phase we call the anxious economy.Our model provides an explanation for the volatile access of emerging economies to international financial markets,and for three stylized facts we identify in emerging markets and high yield data since the late 1990s.Our analytical framework is a general equilibrium model with heterogeneous agents,incomplete markets,and endogenous collateral,plus an extension encompassing adverse selection.