Bankruptcy and Firm Dynamics : The Case of the Missing Firms

The Case of the Missing Firms

Bankruptcy and Firm Dynamics : The Case of the Missing Firms
Financial frictions have been documented as an important determinant of firm dynamics. In this paper I model bankruptcy procedures, liquidation in particular, as an institutional feature that affects both sides of financial transactions. I construct a model of firm dynamics that generate endogenous borrowing limits and I find that a) inefficient... READ MORE...

Publication date: February 2010
ISBN 9781451962932
$18.00

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