Default and Renegotiation: A Dynamic Model of Debt
收藏NBER1997-01-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w5907
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资源简介：
We analyze the role of debt in persuading an entrepreneur to pay out cash flows, rather than to divert them. In the first part of the paper we study the optimal debt contract -- specifically, the trade-off between the size of the loan and the repayment -- under the assumption that some debt contract
提供机构：
美国国家经济研究局
创建时间：
1997-01-01
