Are bank capital ratios too high or too low? Incomplete markets and optimal capital structure

Douglas Gale, Onur Özgür

    Research output: Contribution to journalArticlepeer-review

    Abstract

    We study the effect of relative risk aversion on optimal capital structure in a general-equilibrium model of intermediation with incomplete markets.

    Original languageEnglish (US)
    Pages (from-to)690-700
    Number of pages11
    JournalJournal of the European Economic Association
    Volume3
    Issue number2-3
    DOIs
    StatePublished - 2005

    ASJC Scopus subject areas

    • Economics, Econometrics and Finance(all)

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