Secured debt has become a predominant form of credit. The purpose of this paper is to analyze collateral in a model of … the asset that serves as collateral, specific to each agent. The valuation of this asset will reflect its liquidity as a … collateralizable asset in contingencies. The Friedman rule is the optimal policy. For any other policy credit and the use collateral …

We examine the relationship between institutions, culture and cyclical fluctuations for a sample of 45 European, Middle …

states to inculcate sexual mores. Technology affects culture. …

human capital endowments of women and their economic position. But we also see that the effects of culture and religious …