Browsing MWP Working Papers by Subject "E20"

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Browsing MWP Working Papers by Subject "E20"

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    Title: Financial Crisis Resolution  Author(s): SCHROTH, Josef Date: 2012 Type of Publication: Working Paper Series/Report no.: EUI MWP Abstract: This paper studies a dynamic version of the Holmstrom-Tirole model of intermediated finance. I show that competitive equilibria are not constrained efficient when the economy experiences a financial crises. A pecuniary ...
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    Title: Competition, Human Capital and Income Inequality with Limited Commitment  Author(s): MARIMON, Ramon; QUADRINI, Vincenzo Date: 2008 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: We develop a dynamic general equilibrium model with two-sided limited commitment to study how barriers to competition, such as restrictions to business start-up, affect the incentive to accumulate human capital. We show ...