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The economics of debt clearing mechanisms
Börner, Lars; Hatfield, John William - Fachbereich Wirtschaftswissenschaft, Freie Universität … - 2010
We examine the evolution of decentralized clearinghouse mechanisms from the 13th to the 18th century; in particular, we explore the clearing of non- or limitedtradable debts like bills of exchange. We construct a theoretical model of these clearinghouse mechanisms, similar to the models in the...
Persistent link: https://www.econbiz.de/10008804634
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The economics of debt clearing mechanisms
Börner, Lars; Hatfield, John William - 2010
We examine the evolution of decentralized clearinghouse mechanisms from the 13th to the 18th century; in particular, we explore the clearing of non- or limitedtradable debts like bills of exchange. We construct a theoretical model of these clearinghouse mechanisms, similar to the models in the...
Persistent link: https://www.econbiz.de/10010303905
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The design of debt-clearing markets : clearinghouse mechanisms in preindustrial Europe
Börner, Lars; Hatfield, John William - In: Journal of political economy 125 (2017) 6, pp. 1991-2037
Persistent link: https://www.econbiz.de/10011833430
Cover Image
The economics of debt clearing mechanisms
Börner, Lars; Hatfield, John William - 2010
We examine the evolution of decentralized clearinghouse mechanisms from the 13th to the 18th century; in particular, we explore the clearing of non- or limitedtradable debts like bills of exchange. We construct a theoretical model of these clearinghouse mechanisms, similar to the models in the...
Persistent link: https://www.econbiz.de/10008796265