Chris Hellwig

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This paper argues that the capacity of financial markets to aggregate information is diminished in times of distress, resulting in countercyclical economic uncertainty. I build upon a rational expectations equilibrium model that delivers this result from the combination of (i) countercyclical funding constraints faced by informed financial intermediaries,(More)
Bank of Canada working papers are theoretical or empirical works-in-progress on subjects in economics and finance. The views expressed in this paper are those of the author. No responsibility for them should be attributed to the Bank of Canada. ii Acknowledgements This paper is a heavily revised Chapter 3 of my Ph.D. dissertation at the University of(More)
48 patients with ALL (3%) treated according to two different protocols survived 5 years or longer. The mean survival time was 13.0 +/- 5.0 years, but 29 patients lived 16.5 +/- 3.0 years. Only 18 patients (38%) were 16.9 +/- 3.0 years in them 1. CCR, the longest remission time amounted to more than 25 years. Of the patients relapsed 9 are 8.4 +/- 2.8 years(More)
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