Bubbles and Self-Enforcing Debt
收藏NBER2006-10-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w12614
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资源简介：
We characterize equilibria with endogenous debt constraints for a general equilibrium economy with limited commitment in which the only consequence of default is losing the ability to borrow in future periods. First, we show that equilibrium debt limits must satisfy a simple condition that allows
提供机构：
美国国家经济研究局
创建时间：
2006-10-01
