Thursday - December 25, 2025
Federal Reserve Bank of Cleveland: 'Banking on Experience. Capital Reallocation, Asset Knowledge, and the Structure of Credit Contracts'
December 23, 2025
CLEVELAND, Ohio, Dec. 23 (TNSLrpt) -- The Federal Reserve Bank of Cleveland issued the following white paper (No. 25-25) on December 17, 2025, by Qingqing Cao, Hans Degryse, Sotirios Kokas, and Raoul Minetti entitled "Banking on Experience. Capital Reallocation, Asset Knowledge, and the Structure of Credit Contracts."

Here are excerpts:

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The firm sector continuously engages in the reallocation of physical capital. We study the implications fo . . .

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