Browsing ECO Articles by Author "GOTTARDI, Piero"

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Browsing ECO Articles by Author "GOTTARDI, Piero"

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    Title: Bankruptcy, Finance Constraints, and the Value of the Firm  Author(s): GALE, Douglas; GOTTARDI, Piero Date: 2011-01-01 Type of Publication: Article Abstract: We study a competitive model in which market incompleteness implies that debt-financed firms may default in some states of nature, and default may lead to the sale of the firms' assets at fire sale prices when a finance ...
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    Title: Social Security and Risk Sharing  Author(s): GOTTARDI, Piero; KUBLER, Felix Date: 2011-01-01 Type of Publication: Article Abstract: In this paper we identify conditions under which the introduction of a pay-as-you-go social security system is ex ante Pareto-improving in a stochastic OLG economy with capital accumulation and land. We argue that these ...
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    Title: Markets and Contracts  Author(s): BISIN, Alberto; GEANAKOPOLS, John; GOTTARDI, Piero; MINELLI, Enrico; POLEMARCHAKIS, Herakles Date: 2011 Type of Publication: Article Abstract: Economies with asymmetric information are encompassed by an extension of the model of general competitive equilibrium that does not require an explicit modeling of private information. Sellers have discretion over deliveries ...
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    Title: Managerial Hedging and Portfolio Monitoring  Author(s): BISIN, Alberto; GOTTARDI, Piero; RAMPINI, Adriano Date: 2008 Type of Publication: Article