Dynamic Financial Constraints: Distinguishing Mechanism Design from Exogenously Incomplete Regimes
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We formulate and solve a range of dynamic models of constrained credit/insurance that allow for moral hazard and limited commitment. We compare them to full insurance and exogenously incomplete financial regimes (autarky, saving only, borrowing and lending in a single asset). We develop
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美国国家经济研究局创建时间：
2013-11-01
