๐”– Bobbio Scriptorium
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Endogenous debt constraints in collateralized economies with default penalties

โœ Scribed by V. Filipe Martins-da-Rocha; Yiannis Vailakis


Book ID
113723208
Publisher
Elsevier Science
Year
2012
Tongue
English
Weight
343 KB
Volume
48
Category
Article
ISSN
0304-4068

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โœ Jaime Orrillo ๐Ÿ“‚ Article ๐Ÿ“… 2009 ๐Ÿ› Elsevier Science ๐ŸŒ English โš– 204 KB

We study an infinite-horizon economy with incomplete markets where default is explicitly allowed, contrary to the GE 1 model (where default is ruled out by assumption). The time and uncertainty are modeled by a countable infinite event-tree with a unique initial node at initial date, and with a cont