Debt Reduction, Adjustment Lending, and Burden Sharing
收藏NBER1992-03-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w4007
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资源简介：
We argue that the disincentive effect of a debt overhang is generally small and consequently that debt reduction does not lead to important efficiency gains on this account. Instead, we develop a framework that highlights the inefficiency created by the liquidity constraint faced by over-indebted
提供机构：
美国国家经济研究局
创建时间：
1992-03-01
