Optimal contracts and supply-driven recessions
نویسندگان
چکیده
منابع مشابه
Enforcement, Incomplete Contracts, and Recessions
This paper studies the link between enforcement in financial contracts and output volatility. In particular we study how cycles and importantly recessions can be amplified in economies with weak contract enforcement. The idea of the paper is that firms in economies with enforcement problems will not be able to have the optimal scale of production because investors cannot enforce the collection ...
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ژورنال
عنوان ژورنال: Economics Letters
سال: 2020
ISSN: 0165-1765
DOI: 10.1016/j.econlet.2020.109618