Blar i NHH Brage på emneord "financial contracts"
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Strategic defaults and priority violations under costly state verification
(Discussion paper, Working paper, 2002-06)We reformulate the classic CSV model of financial contracting from Townsend (1979) and Gale & Hellwig (1985) to tackle criticisms raised against it, such as lack of subgame-perfectness at the repayment stage and its inability ...