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Endogenous Debt Constraints in Lifecycle Economies
Azariadis, Costas; Lambertini, Luisa - In: Review of Economic Studies 70 (2003) 3, pp. 461-487
We characterize competitive equilibria with perfect foresight in a deterministic, three-period pure-exchange overlapping generations economy with perfect information and no commitment to loan contracts. Commitment is replaced by an enforcement mechanism that excludes defaulters from asset...
Persistent link: https://www.econbiz.de/10010638080
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Excess Asset Returns with Limited Enforcement
Azariadis, Costas; Lambertini, Luisa - In: American Economic Review 92 (2002) 2, pp. 135-140
Persistent link: https://www.econbiz.de/10005757259
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Endogenous Debt Constraints in Lifecycle Economies
Azariadis, Costas; Lambertini, Luisa - In: Review of Economic Studies 70 (2003) 3, pp. 461-487
We characterize competitive equilibria with perfect foresight in a deterministic, three-period pure-exchange overlapping generations economy with perfect information and no commitment to loan contracts. Commitment is replaced by an enforcement mechanism that excludes defaulters from asset...
Persistent link: https://www.econbiz.de/10005672665
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Endogenous debt constraints in lifecycle economies
Azariadēs, Kōstas; Lambertini, Luisa - In: The review of economic studies 70 (2003) 3, pp. 461-487
Persistent link: https://www.econbiz.de/10001771520
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Excess asset returns with limited enforcement
Azariadēs, Kōstas; Lambertini, Luisa - In: The American economic review 92 (2002) 2, pp. 135-140
Persistent link: https://www.econbiz.de/10001705781
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The fiscal politics of big governments : do coalitions matter?
Lambertini, Luisa; Azariadēs, Kōstas - In: Economics for an imperfect world : essays in honor of …, (pp. 367-385). 2003
Persistent link: https://www.econbiz.de/10002011646
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PAPERS - Macroeconomics of Incomplete Markets - Excess Asset Returns with Limited Enforcement
Azariadis, Costas; Lambertini, Luisa - In: The American economic review 92 (2002) 2, pp. 135-140
Persistent link: https://www.econbiz.de/10006827017
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Endogenous Debt Constraints in Lifecycle Economies
Azariadis, Costas; Lambertini, Luisa - In: The review of economic studies 70 (2003) 244, pp. 461-488
Persistent link: https://www.econbiz.de/10007655369
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Excess Asset Returns with Limited Enforcement
Lambertini, Luisa - 2009
This paper investigates the effect of limited enforcement of contracts on asset returns in a three-period pure- exchange overlapping generations economy. We consider a life-cycle setting with a safe and a risky asset and find that lack of commitment can significantly affect the rate of returns...
Persistent link: https://www.econbiz.de/10013157438
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Endogenous Debt Constraints in Lifecycle Economies
Lambertini, Luisa - 2009
We characterize competitive equilibria with perfect foresight in a deterministic, three-period pure-exchange overlapping generations economy with perfect information and no commitment to loan contracts. Commitment is replaced by an enforcement mechanism that excludes defaulters from asset...
Persistent link: https://www.econbiz.de/10013157439