Browsing Economics by Author "Vailakis, Yiannis"
Vailakis, Yiannis; Martins-da-Rocha, V. Filipe (Elsevier, 2011)The objective of the paper is to propose endogenous debt constraints that rule out Ponzi schemes and ensure existence of equilibria in a model with limited commitment and (possible) default. We appropriately modify the ...
Vailakis, Yiannis; Martins-da-Rocha, V. Filipe (Elsevier, 2012-05)Pascoa and Seghir (2009) presented two examples to show that in the presence of utility penalties for default, collateral requirements do not always eliminate the occurrence of Ponzi schemes and equilibria may fail to ...
Boucekkine, Raouf; Croix, David de la; Vailakis, Yiannis (De Boeck Université, 2002)