Voluntary Debt Reduction: Incentives and Welfare
收藏NBER1988-08-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w2692
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资源简介：
In an economy with a debt overhang, investment depends on expected tax rates. On the other hand, expected tax rates depend on the debt's face value. Therefore investment depends on the face value of debt. I show that this may lead to a positive or negative association between debt and investment
提供机构：
美国国家经济研究局
创建时间：
1988-08-01
