Arbeitspapier
Optimal exclusion
In a canonical model of borrowing and lending, an exclusion technology that features full exclusion for a deterministic number of periods following default maximizes stationary equilibrium welfare. This exclusion policy maximizes the stationary volume of mutually beneficial lending transactions. It also maximizes the average welfare of the excluded. The optimal length of exclusion depends on fundamentals such as borrower patience and the direct cost of default. It also depends on incentives to default for strategic rather than exogenous reasons.
- Sprache
-
Englisch
- Erschienen in
-
Series: Discussion Papers ; No. 18-14
- Klassifikation
-
Wirtschaft
Incomplete Markets
Asymmetric and Private Information; Mechanism Design
- Thema
-
endogenous default
exclusion
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Monnet, Cyril
Quintin, Erwan
- Ereignis
-
Veröffentlichung
- (wer)
-
University of Bern, Department of Economics
- (wo)
-
Bern
- (wann)
-
2018
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:46 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Monnet, Cyril
- Quintin, Erwan
- University of Bern, Department of Economics
Entstanden
- 2018
Ähnliche Objekte (12)
Social Exclusion and Optimal Redistribution
Optimal Parochialism: The Dynamics of Trust and Exclusion in Networks
Efficient exclusion
Selection without exclusion
Information and Racial Exclusion
Unemployment and social exclusion
Academic Exclusion: Some Experiences
The Measurement of Social Exclusion
Aid, peasants and social exclusion
Unemployment, Employment and Social Exclusion
Can Naked Exclusion Be Procompetitive?
ICT and Socio-Economic Exclusion
Social Exclusion and Optimal Redistribution
Optimal Parochialism: The Dynamics of Trust and Exclusion in Networks
Efficient exclusion
Selection without exclusion
Information and Racial Exclusion
Unemployment and social exclusion
Academic Exclusion: Some Experiences
The Measurement of Social Exclusion
Aid, peasants and social exclusion
Unemployment, Employment and Social Exclusion
Can Naked Exclusion Be Procompetitive?
ICT and Socio-Economic Exclusion
Social Exclusion and Optimal Redistribution
Optimal Parochialism: The Dynamics of Trust and Exclusion in Networks
Efficient exclusion
Selection without exclusion
Information and Racial Exclusion
Unemployment and social exclusion
Academic Exclusion: Some Experiences
The Measurement of Social Exclusion
Aid, peasants and social exclusion
Unemployment, Employment and Social Exclusion
Can Naked Exclusion Be Procompetitive?