Quintin, Erwan - In: Annals of Finance 8 (2012) 4, pp. 427-454
The extent of lender recourse following contractual default varies greatly across economies. Intuitively, one would … expect these differences to matter for default behavior at the micro-economic level and for equilibrium quantities. The … CitationID="CR11">2005</CitationRef>) where the implications of recourse for default patterns can be characterized. Under …