Individual Versus Aggregate Collateral Constraints and the Overborrowing Syndrome
收藏数据链接：
官方服务：
资源简介：
This paper compares the equilibrium dynamics of an economy facing an aggregate collateral constraint on external debt to the dynamics of an economy facing a collateral constraint imposed at the level of each individual agent. The aggregate collateral constraint is intended to capture an environment
提供机构：
美国国家经济研究局创建时间：
2006-05-01
