Browsing Faculté des arts et des sciences – Département de sciences économiques by Subject "limited capital"
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A model of dynamic liquidity contracts
(Université de Montréal. Département de sciences économiques., 2011)I study long-term financial contracts between lenders and borrowers in the absence of perfect enforceability and when both parties are credit constrained. Borrowers repeatedly have projects to undertake and need external financing. Lenders can commit ...