Now showing items 1-2 of 2

    • Collateral, default penalties and almost finite-time solvency 

      Martins-da-Rocha, Victor Filipe; Vailakis, Yiannis
      2008-03-04
      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. ...
    • Endogenous debt constraints in collateralized economies with default penalties 

      Martins-da-Rocha, Victor Filipe; Vailakis, Yiannis
      2011-06-30
      In infinite horizon financial markets economies, competitive equilibria fail to exist if one does not impose restrictions on agents' trades that rule out Ponzi schemes. When there is limited commitment and collateral ...