Essays on financial frictions, collateral and default
<p>The first model of my thesis introduces a monetary Real Business Cycle model with incomplete markets, a durable good, collateralized securities and endogenous default. We establish that equilibria are inefficient since agents underinvest due to the existence of endogenous default. Moreover,...
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| Médium: | Diplomová práce |
| Jazyk: | English |
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2020
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