Leasing and Secondary Markets: Theory and Evidence from Commercial Aircraft.
I develop a model of costly capital reallocation to understand how leasing reduces trading frictions. Leased assets trade more frequently and produce more output than owned assets because (1) high-volatility firms are more likely to lease than low-volatility firms and (2) firms shed leased asssets f...
| Publicado en: | Journal of Political Economy Vol. 119; no. 2; pp. 325 - 378 |
|---|---|
| Autor principal: | |
| Formato: | Artículo |
| Publicado: |
University of Chicago Press
April 2011
|
| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |