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Browsing ADEMU Working Papers Series by Subject "Debt overhang"

Browsing ADEMU Working Papers Series by Subject "Debt overhang"

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  • Jungherr, Joachim; Schott, Immo (2018-05)
    We introduce long-term debt (and a maturity choice) into a standard model of firm financing and investment. This allows us to study two distortions of investment: (1.) Debt dilution distorts firms’ choice of debt which has ...
  • Ábrahám, Árpád; Cárceles Poveda, Eva; Liu, Yan; Marimon, Ramon (2018-04)
    A Financial Stability Fund set by a union of sovereign countries can improve countries' ability to share risks, borrow and lend, with respect to the standard instrument used to smooth fluctuations: sovereign debt financing. ...
  • Müller, Andreas; Storesletten, Kjetil; Zilibotti, Fabrizio (2016-09)
    We construct a dynamic theory of sovereign debt and structural reforms with three interacting frictions: limited enforcement, limited commitment, and incomplete markets. A sovereign country in recession issues debt to ...

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