Narrow search
Showing 1 - 2 of 2
Cover Image
The cost of contract renegotiation: Evidence from the local public sector
Gagnepain, Philippe; Ivaldi, Marc; Martimort, David - C.E.P.R. Discussion Papers - 2010
The renegotiation of regulatory contracts is known to prevent regulators from achieving the full commitment efficient outcome in dynamic contexts. However, assessing the cost of such renegotiation remains an open issue from an empirical viewpoint. To address this question, we fit a structural...
Persistent link: https://www.econbiz.de/10008684689
Cover Image
Debt Contracts, Collapse and Regulation as Competition Phenomena
Gersbach, Hans; Uhlig, Harald - C.E.P.R. Discussion Papers - 1997
lenders, which may make lending altogether unprofitable. Second, banks can have an incentive to offer a debt contract and … additional equity contracts to intermediate debtors, which is in turn dominated by a simple debt contract, only attractive for … seek to avoid the contract with the highest chance of delivery: that contract attracts all bad entrepreneurs. …
Persistent link: https://www.econbiz.de/10005661861