Klyuev (2008) concluded that the Canadian market for housing finance is highly advanced and sophisticated, but …

these two types of debt. We analyze the decisions of a sovereign on how to allocate its borrowing needs between these two … other features of the data such as frequency of IFI borrowing and mean IFI debt stock. …

Under what circumstances can market forces prevent unsustainable borrowing? Effective market discipline requires that …

Fiscal rules—legal restrictions on government borrowing, spending, or debt accumulation (like the Gramm …. Previous literature stresses that such laws restrict countercyclical government borrowing, thus preventing intertemporal … substantially reduce tax rate variability—the very goal of countercyclical borrowing—even over a finite horizon. Thus, Gramm …

procyclicality in lending standards by affecting the behavior of banks’ capital buffers. This paper uses a two-country DSGE model … with financial frictions to illustrate how procyclicality in borrowing limits reinforces the “overreaction†of asset …

borrowing associated with large current account deficits would have suggested. This paper examines the sources of discrepancies … between net borrowing and accumulation of net liabilities for the U.S. economy over the past 25 years. In particular, it …

a model of firm dynamics that generate endogenous borrowing limits and I find that a) inefficient bankruptcy procedures …Financial frictions have been documented as an important determinant of firm dynamics. In this paper I model bankruptcy …