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    • Borrowing in excess of natural ability to repay 

      Martins-da-Rocha, Victor Filipe; Vailakis, Yiannis (Academic Press Inc Elsevier Science, 2017-01)
      The paper aims at improving our understanding of self-enforcing debt in competitive dynamic economies with lack of commitment when default induces a permanent loss of access to international credit markets. We show, by ...