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What does contract negotiation look like when some parties hold private information and negotiation frictions are … negligible? This paper analyzes the above question and provides a foundation for renegotiation-proof contracts in a related …
Persistent link: https://www.econbiz.de/10011375845
This paper analyzes the determinants of pass-through that are specific to vertical relationships between wholesalers and retailers. Fluctuations in input costs (due to, e.g., exchange rate shocks) are transmitted first to the wholesale price, and then to the retail price. The type of vertical...
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This paper develops a model with the novel feature that firms can renegotiate debt both in and outside distress. We show that this feature is crucial for debt renegotiation models to explain corporate policies and debt prices. Specifically, the model reflects empirical credit spread patterns,...
Persistent link: https://www.econbiz.de/10011345070
This paper examines a general model of contract in multi-period settings with both external and self-enforcement. In the model, players alternately engage in contract negotiation and take individual actions. A notion of contractual equilibrium, which combines a bargaining solution and individual...
Persistent link: https://www.econbiz.de/10009785335
America, based in the evolution of PPP contracts through the last 25 years. The paper also shows how countries via new PPP … laws, regulations, norms and specific platforms can reduce the incidence and the incentives to renegotiate contracts. Based … renegotiations of contracts particularly in complex projects and where governments are providing financial or credit enhancement …
Persistent link: https://www.econbiz.de/10010478579
Public-private partnerships (PPPs) have the potential to increase efficiency and improve resource allocation. However, contract renegotiations are common and make us question the benefits to PPPs. Under current accounting standards, PPPs allow intertemporal reallocations of infrastructure...
Persistent link: https://www.econbiz.de/10010478590
Public-private partnerships (P3s) typically rely on long-term contracts between participants. When conditions arise …
Persistent link: https://www.econbiz.de/10010478595