Bailouts, Time Inconsistency, and Optimal Regulation
收藏NBER2013-06-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w19192
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资源简介：
We develop a model in which, in order to provide managerial incentives, it is optimal to have costly bankruptcy. If benevolent governments can commit to their policies, it is optimal not to interfere with private contracts. Such policies are time inconsistent in the sense that, without commitment,
提供机构：
美国国家经济研究局
创建时间：
2013-06-01
