This paper explores the welfare consequences of unemployment insurance when private insurance markets are subject to enforcement frictions that limit debt accumulation, endogenously determining individual borrowing limits as a function of the length of unemployment. Reducing the replacement rate in the model initially increases borrowing, as the value of default declines significantly. As the r...

the present paper aims to examine the role of frequency lexicon in assessing lexical proficiency of persian learners. addressing the frequency distribution pattern of persian words, the research which is conducted in corpus-based method studies the relationship between words and lexical proficiency as well as derives the frequency lexicon from persian corpus. to do so, formal and colloquial per...

the purpose of this study is to assess the transaction cost of borrowing from non-governmental investment development funds which are established in less than a decade. transaction costs are considered as significant and limiting factors for micro-borrowers in using formal loans. the required data are provided by the investment developing support’s parent company using the stratified random sam...

We study an equilibrium in which agents face surprise liquidity shocks and invest in liquid and illiquid riskless assets. The random holding horizon from liquidity shocks makes the return of the illiquid security risky. The equilibrium premium for such risk depends on the constraint that agents face when borrowing against future income; it is insignificant without borrowing constraint, but can ...

A particular status of the English language as international communication and connections between nearly related German languages resulted in emergence many interlingual borrowings Modern vocabularies. The paper aims to consider functioning (loanwords) languages. To reach aim research carry out tasks assigned, following methods were used: a descriptive method, method correlation, componential ...

We study how a household borrowing constraint the the form of a down payment requirement affects house price dynamics in an OLG model with standard preferences. We find that in certain situations the borrowing constraint shapes house price dynamics substantially. The importance of the constraint depends very much on whether house price changes are driven by interest rate or aggregate income sho...

The present study aims at investigating the effect of different levels of lexical collocational density on EFL learners’ reading comprehension. Eighty sophomore students with different levels of proficiency studying at  Zand Institute of Higher Education in Shiraz, Iran were chosen from among eighty five learners based on their score distribution on a reduced TOEFL test constructed by Education...

Financing Decisions of Firms and Central Bank Policy* This Paper aims to explain the sharp rise in unhedged foreign borrowing by South East Asian corporations in the few years prior to the crisis despite remarkably little change in fundamentals. The crucial element of our story is the complementarity between decisions of firms and of the central bank, which gives rise to multiple equilibria: wh...

Using data from the 1998 Survey of Consumer Finances (SCF), this paper estimates homeownership rates that would prevail in the United States if borrowing constraints were eliminated. These estimates are obtained by first identifying a group of unconstrained households in the SCF based on a unique set of survey questions. Housing tenure preferences are then estimated over unconstrained household...