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Browsing Departament d'Economia i Empresa by Subject "debt"

Browsing Departament d'Economia i Empresa by Subject "debt"

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  • 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 ...
  • 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 ...
  • 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 ...

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