• Title of article

    First-best debt relief

  • Author/Authors

    Gordon Douglas Menzies، نويسنده ,

  • Issue Information
    روزنامه با شماره پیاپی سال 2004
  • Pages
    6
  • From page
    301
  • To page
    306
  • Abstract
    The rationale for debt relief (J. Dev. Econ. 29 (1988) 253) is second best. In a first-best contract, a debtor who clears a (partly forgiven) debt receives an additional payment from the creditor, called a hyper-incentive.
  • Keywords
    Debt forgiveness , Hyper-incentive contract , Debt overhang
  • Journal title
    Economics Letters
  • Serial Year
    2004
  • Journal title
    Economics Letters
  • Record number

    435360

    • Link To Document
    https://search.isc.ac/dl/search/defaultta.aspx?DTC=10&DC=435360