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Browsing Working Papers by Subject "Default"
Now showing items 1-2 of 2
Title:Stationary Equilibrium Distributions in Economies with Limited Commitment
Author(s):BROER, TobiasDate:2009Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Limited commitment to contracts can explain imperfect risk sharing even when individuals have access to complete insurance markets. Past contributions have focused on the resulting cross-sectional distribution of consumption ...
Title:Does the Good Matter? Evidence on Moral Hazard and Adverse Selection from Consumer Credit Market
Author(s):BICAKOVA, AlenaDate:2007Type of Publication:Working PaperSeries/Report no.:EUI ECOAbstract:Default rates on instalment loans vary with type of the good purchased.
Using an Italian dataset of instalment loans between 1995-1999, we first
show that the variation persists even after controlling for contract ...