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Do Accounting Measurement Regimes Matter? A Discussion of Mark-to-Market Accounting and Liquidity Pricing


Haresh Sapra


University of Chicago - Booth School of Business

September 16, 2007

Journal of Accounting & Economics (JAE), Vol. 45, No. 2 & 3, pp. 379-387, 2008

Abstract:     
Using a model with banking and insurance sectors, Allen and Carletti show that marking-to-market interacts with liquidity pricing to exacerbate the likelihood of financial contagion between the two sectors. In this discussion, I lay out the main ingredients of their model and explain how they interact with liquidity pricing to generate financial contagion. I then discuss some limitations of their model and propose an interesting extension.

Number of Pages in PDF File: 17

Keywords: Mark-to-Market, Historical Cost, Liquidity Pricing, Accounting Measurement

JEL Classification: D52, G12, G21, G22, M41, M44

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Date posted: July 30, 2008 ; Last revised: September 21, 2008

Suggested Citation

Sapra, Haresh, Do Accounting Measurement Regimes Matter? A Discussion of Mark-to-Market Accounting and Liquidity Pricing (September 16, 2007). Journal of Accounting & Economics (JAE), Vol. 45, No. 2 & 3, pp. 379-387, 2008. Available at SSRN: http://ssrn.com/abstract=1186255 or http://dx.doi.org/10.2139/ssrn.1186255

Contact Information

Haresh Sapra (Contact Author)
University of Chicago - Booth School of Business ( email )
5807 S. Woodlawn Avenue
Chicago, IL 60637
United States
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