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Signalling effects of a large player in a global game of creditor coordination
Schüle, Tobias (contributor); Stadler, Manfred (contributor) - 2005
In case of multiple creditors a coordination problem can arise when the borrowingfirm runs into financial distress …. Even if the project's value at maturity is enoughto pay all creditors in full, some creditors may be tempted to foreclose … on theirloans. We develop a model of creditor coordination where a large creditor movesbefore a continuum of small …
Persistent link: https://www.econbiz.de/10003636427
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Signalling effects of a large player in a global game of creditor coordination
Schüle, Tobias; Stadler, Manfred - 2005
In case of multiple creditors a coordination problem can arise when the borrowingfirm runs into financial distress …. Even if the project's value at maturity is enoughto pay all creditors in full, some creditors may be tempted to foreclose … on theirloans. We develop a model of creditor coordination where a large creditor movesbefore a continuum of small …
Persistent link: https://www.econbiz.de/10010301815
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Creditor coordination with social learning and endogenous timing of credit decisions
Schüle, Tobias (contributor) - 2006
creditors the option to delay their foreclosure decision rather than obliging them to simultaneous actions as suggested by … diminishes creditor coordination failure whenever the firm is expected to be in distress. -- global games ; creditor coordination …
Persistent link: https://www.econbiz.de/10003636509
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Creditor coordination with social learning and endogenous timing of credit decisions
Schüle, Tobias - 2006
creditors the option to delay their foreclosure decision rather than obliging them to simultaneous actions as suggested by … diminishes creditor coordination failure whenever the firm is expected to be in distress. …
Persistent link: https://www.econbiz.de/10010301793
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Probability of default and precision of information
Ernstberger, Philip - In: Crisis, debt, and default : the effects of time …, (pp. 95-136). 2016
Persistent link: https://www.econbiz.de/10011622268
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Voting With Time Commitment for Decentralized Governance : Bond Voting as a Sybil-Resistant Mechanism
Mohan, Vijay; Khezr, Peyman; Berg, Chris - 2022
Blockchain applications are increasingly experimenting with novel governance mechanisms that address issues that are important for their community: resistance to voter fraud in the form a Sybil attack; resistance to the formation of a plutocracy within the community; and, the ability to express...
Persistent link: https://www.econbiz.de/10014237282
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Potential output and fiscal rules in a monetary union under asymmetric information
Marattin, Luigi; Meraglia, Simone - 2015
We analyze fiscal rules within a Monetary Union in the presence of (i) asymmetric information about member states' potential output and, therefore, output gap and (ii) bail-out among member states. In our framework, bail-out lowers the scope for signalling (discrimination) by member states...
Persistent link: https://www.econbiz.de/10011714310
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Potential output and fiscal rules in a monetary union under asymmetric information - 2nd ed
Marattin, Luigi; Meraglia, Simone - 2016 - 2nd edition
We analyze fiscal rules within a Monetary Union in the presence of (i) asymmetric information on member states' potential output and (ii) bail-out among member states. The first-best deficit is contingent on the cycle, that is, on member states' output gap. In the presence of asymmetric...
Persistent link: https://www.econbiz.de/10011705510
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Monetary policy and local industry structure
Popov, Alexander; Steininger, Lea - 2023
We study how monetary policy affects local market competition in a union of countries experiencing different economic conditions: the euro area. We find that when monetary conditions tighten (loosen), from the point of view of an individual economy, market concentration increases (declines)....
Persistent link: https://www.econbiz.de/10013552619
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Potential Output and Fiscal Rules in a Monetary Union Under Asymmetric Information
Marattin, Luigi - 2015
We analyze fiscal rules within a Monetary Union in the presence of (i) asymmetric information about member states' potential output and, therefore, output gap and (ii) bail-out among member states. In our framework, bail-out lowers the scope for signalling (discrimination) by member states...
Persistent link: https://www.econbiz.de/10013019233