CRC TR 224 EPoS Bonn-Mannheim(@EPoS224):Collateral protection laws have unintended consequences. We show the 2005 BAPCPA reform protected repo holders but incentivized dealer-banks to dramatically increase leverage, leading to sharper deleveraging during the downturn.

CRC TR 224 EPoS Bonn-Mannheim

@EPoS224

Twitter account of Collaborative Research Center Transregio 224 "Economic Perspectives on Societal Challenges" at University of Bonn & University of Mannheim

参加 January 2020

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CRC TR 224 EPoS Bonn-Mannheim@EPoS224

2026.10.07 09:39

Collateral protection laws have unintended consequences. We show the 2005 BAPCPA reform protected repo holders but incentivized dealer-banks to dramatically increase leverage, leading to sharper deleveraging during the downturn.