repayment obligations and thus the risk of bankruptcy. If the risk of bankruptcy enters the profit maximization of the firm, the … cover a period of 12 years. The empirical results confirm the assumption that the risk of bankruptcy is an important … decisions of enterprises, or whether bankruptcy probabilities better account for these potential financial risks. …

heterogeneous learning rules, numerical simulations illustrate that bankruptcy on the part of borrowers arises sooner as they track …

environments for general distributions and probability spaces, and we show that the extended measure avoids bankruptcy in …

avoids bankruptcy in the long run. It is not time-consistent. …

individuals may file for bankruptcy or default on their mortgage. Uncertainty in the model is driven by house price shocks …, education specific productivity shocks, and catastrophic consumption events, while bankruptcy is governed by the basic … Bankruptcy policy. …

Heterogeneous learning rules, numerical simulations illustrate that bankruptcy on the part of borrowers arises sooner as they track …