) how conflicts of interest among bank managers, shareholders, and debt holders can lead to excessive bank risk taking from …

This paper compares the equilibrium dynamics of an economy facing an aggregate collateral constraint on external debt … central finding of the paper is that the economy with the aggregate borrowing limit does not generate higher levels of debt …

This paper compares the equilibrium dynamics of an economy facing an aggregate collateral constraint on external debt … central finding of the paper is that the economy with the aggregate borrowing limit does not generate higher levels of debt …

sovereign debt crisis. A dynamic conditional correlation (DCC) multivariate GARCH model is used to estimate to what extent the … period after troika intervention in Irish finances. This result supports the use of bailouts and external financial …, should be considered as a primary response function in future cases of sovereign debt crisis. …