Dynamic Debt Runs
收藏NBER2009-11-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w15482
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资源简介：
We develop a dynamic model of debt runs on a firm, which invests in an illiquid asset by rolling over staggered short-term debt contracts. We derive a unique threshold equilibrium, in which creditors coordinate their asynchronous rollover decisions based on the firm's publicly observable and time
提供机构：
美国国家经济研究局
创建时间：
2009-11-01
