Visualitza Recerca: working papers, preprints, informes, etc. per matèria "debt"

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Credit card debt puzzles

Haliassos, Michael; Reiter, Michael (2005-11-01)

Most US credit card holders revolve high-interest debt, often combined with substantial (i) asset accumulation by retirement, and (ii) low-rate liquid assets. Hyperbolic discounting can resolve only the former puzzle ...
Dynamic adverse selection and debt

Chemla, Gilles; Faure Grimaud, Antoine (1996-03-01)

This paper argues that the strategic use of debt favours the revelation of information in dynamic adverse selection problems. Our argument is based on the idea that debt is a credible commitment to end long term ...
Nominal debt as a burden on monetary policy

Díaz-Giménez, Javier; Giovannetti, Giorgia; Marimon, Ramon; Teles, Pedro (2003-01-01)

We study the effects of nominal debt on the optimal sequential choice of monetary policy. When the stock of debt is nominal, the incentive to generate unanticipated inflation increases the cost of the outstanding debt even ...