Browsing by Author "Cui, Wei, 1970-"

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  • Cui, Wei, 1970-; Kaas, Leo (2017-05)
    Recessions are often accompanied by spikes of corporate default and prolonged declines of business credit. This paper argues that credit and default cycles are the outcomes of variations in self-fulfilling beliefs about ...
  • Cui, Wei, 1970-; Radde, Soeren (2017-05)
    We develop a search-theory of asset market liquidity which gives rise to endogenous financing constraints in an otherwise standard dynamic general equilibrium model. Asset liquidity describes the ease of issuance and ...
  • Bassetto, Marco; Cui, Wei, 1970- (2018-05)
    A central equation for the fiscal theory of the price level (FTPL) is the government budget constraint (or "government valuation equation"), which equates the real value of government debt to the present value of fiscal ...