Berlinger, Edina; Bihary, Zsolt; Dobránszky-Bartus, Katalin - 2023
find that in normal economic circumstances, private debt relief programs are not feasible. State intervention can be … it can be applied to individual borrowers as well. We derive the feasibility conditions for private and public debt … relief programs in a utilitarian framework and find that lenders have no interest in offering payment reductions if non …