The American Economic Review, Volume 85American Economic Association., 1995 Includes annual List of doctoral dissertations in political economy in progress in American universities and colleges. |
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Página 1106
... debt overhang . Debt overhang occurs when existing debt deters new investment because the benefits from new investment will go to the existing creditors , not to the new investors . If the economy is booming , debt overhang will not ...
... debt overhang . Debt overhang occurs when existing debt deters new investment because the benefits from new investment will go to the existing creditors , not to the new investors . If the economy is booming , debt overhang will not ...
Página 1107
... debt overhang driven by productivity shocks . In my model , in contrast , investment is driven not by cur- rent cash flow , but rather by future expected eco- nomic conditions , so that the same level of debt can be either a debt ...
... debt overhang driven by productivity shocks . In my model , in contrast , investment is driven not by cur- rent cash flow , but rather by future expected eco- nomic conditions , so that the same level of debt can be either a debt ...
Página 1112
... debt . Debt is further subdivided according to seniority ( junior and senior ) and date due ( date 1 and date 2 ) . Cred- itors at date n have first claim to the payouts of the firm at date n , and if the income of the firm at date n is ...
... debt . Debt is further subdivided according to seniority ( junior and senior ) and date due ( date 1 and date 2 ) . Cred- itors at date n have first claim to the payouts of the firm at date n , and if the income of the firm at date n is ...
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