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Bankruptcy and Collateral in Debt Constrained Markets

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NBER2006-10-01 更新2025-01-04 收录
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https://www.nber.org/papers/w12656
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Typical models of bankruptcy and collateral rely on incomplete asset markets. In fact, bankruptcy and collateral add contingencies to asset markets. In some models, these contingencies can be used by consumers to achieve the same equilibrium allocations as in models with complete markets. In
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2006-10-01
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