, we find that borrowers respond to greater protection by increasing their unsecured debt. Border county estimates suggest …. Increased protections did not reduce the aggregate level of household debt but affected the composition of borrowing. …

the country’s creditworthiness. Therefore, a default and debt restructuring were inevitable sooner or later—and certainly … budget deficit and public debt figures. The prosaic tale of the supposed inevitability of the Greek tragedy has been endorsed … about 50 percent of the time. Does that tell you something?” In reality, Greece’s road to default and debt restructuring in …

recovery form in estimating the cost of debt capital within a structural model framework. …

. We consider a standard debt contract between a bank and a small firm (either profitable or not) : if financial distress … occurs, an arbitration between private agreement and costly bankruptcy takes place. Before the debt repayment time, firms …

debt ratios, even though many of them were weakened by the shock from the 2009 recession. …

the conditions under which the optimal contract is a debt contract. Our methodological framework may be used for example …

differ dramatically across the different states. While increasing the level of these exemptions causes less debt to be held …