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When a bankruptcy debtor confirms a chapter 11 plan of reorganization, it must address the claims of its secured creditors. The Bankruptcy Code allows for non-consensual confirmation of a plan, and hence the involuntary restructuring of existing debt, through a process colloquially known as...
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after a once and for all increase in liquidity. The gradual propagation mechanism produced by our model is novel in the … literature. We provide an analytical characterization of this mechanism, showing that the magnitude of the liquidity effect on …
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and liquidity has increased since the late 1990s, and to a lesser extent because economic growth has slowed. We reach this …
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The prevailing models of liquidity traps suggest that a deflationary trap is a stable steady state in a multiple … presents a reduced-form model that integrates liquidity effects into the analysis of interest rate rules. In contrast to the …
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