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Contagion or Inductance? Crisis 1997 Reconsidered |
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| Authors: | Henry Wan Jr & Wing-Keung Wong |
| Institution: | Cornell University,;National University of Singapore |
| Abstract: | We provide the simple example of a refinancing game with incomplete information, where the lack of transparency is both necessary and sufficient for the propagation of local financial distress across disjoint financial networks. JEL Classification Number: F4. And the truth shall make you free. John 8: 32 |
| Keywords: | |