Collateral, default penalties and almost finite-time solvency
We argue that it is possible to adapt the approach of imposing restrictions on available plans through finitely effective debt constraints, introduced by Levine and Zame (1996), to encompass models with default and collateral. Along this line, we introduce in the setting of Araujo, Páscoa and Torres...
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| Format: | article |
| Language: | eng |
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2008
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| Online Access: | http://hdl.handle.net/10438/415 |
| Country: | Brazil |
| Oai: | oai:bibliotecadigital.fgv.br:10438/415 |