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Renegotiation in Debt Chains

Christian Opp , Vincent Glode   Sep 28,2020

We develop a tractable model of strategic debt renegotiation in which businesses are sequentially interconnected through their liabilities. This financing... Read More

Demand Disagreement

Christian Heyerdahl-Larsen, Philipp Illeditsch   Dec 13,2019

We develop an overlapping generations model with disagreement about the cross-sectional distribution of investors’ preferences and beliefs. This disagreement implies... Read More