tend not to face higher interest rates because they provide collateral. This paper illustrates these effects in a model and … tests the hypotheses derived by exploiting the introduction of a "fresh start" policy in Germany in 1999 as a natural …

that can be used as collateral. This paper presents a model where firm creation and growth hinge on matching potential … entrepreneurs with productive technologies, while firm growth depends on acquired capital. The shortage of collateral creates a ….g., the depth of credit information and the strength of legal rights pertaining to collateral and bankruptcy) would stimulate …

the U.S. We then establish the quantitative result that home equity does not serve as informal collateral for unsecured … and price of unsecured debt. -- household debt portfolios ; housing ; collateral ; bankruptcy ; commitment ; income risk …

a collateral constraint. Over a specific range of debt levels this liquidity feedback effect is strong enough to give …

This paper studies the effects of private real estate collateral on entrepreneurial lending and entrepreneurial … activity in the Netherlands. The residential collateral channel is especially relevant for sole-proprietors who own a business …

framework of firms' investment with credit rationing and real estate collateral. We show that real estate prices affect firms …

place in Germany, towards a more Anglo-American system in which a large proportion of transfers are paid to the working poor …