Default and Efficient Debt Markets

J. Dutta and Sandeep Kapur

Discussion Papers from Department of Economics, University of Birmingham

Abstract: We examine default-free contracts in an infinite-horizon economy in which some individuals have access to a productive, intertemporal technology. Individuals without access to the technology must lend their savings to those with access.

Keywords: DEBT; EFFICIENCY; PRICING (search for similar items in EconPapers)
JEL-codes: C61 D92 E2 (search for similar items in EconPapers)
Date: 2000

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Persistent link: http://EconPapers.repec.org/RePEc:bir:birmec:00-14

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