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Trading constraints penalizing default: a recursive approach
(Elsevier Science Sa, 2008-01-20)
This paper proves existence of an ergodic Markov equilibrium for a class of general equilibrium economies with infinite horizon, incomplete markets, and default. Agents may choose to deny their liabilities and face trading ...
Identification of physical constraints in the logistic system of trading enterprises in Holguin, Cuba
(Universidad Nacional de Misiones. Facultad de Ciencias Económicas. Programa de Posgrado en Administración, 2017-09-01)
At present, it is of utmost importance in every organization, the identification of the restrictive resources for their performance, due to the high competitiveness that presents the world market, where the inadequate ...
Specialization and competitiveness in brazilian foreign tradeSpecialization and competitiveness in brazilian foreign trade
(Revista Momento Económico, 2009)
Credit segmentation in general equilibrium
(Elsevier B.V., 2015)
We build a general equilibrium model with endogenous borrowing constraints compatible with credit
segmentation. There are personalized trading restrictions connecting prices with both portfolio constraints
and consumption ...
Substitution effects in SME finance
(2018-03-20)
We investigate whether SMEs with demand for credit increase their trade credit usage after they experience a negative shock to bank credit. We base our analysis on a large sample of SMEs from the five biggest European ...
Endogenous borrowing constraints and default when markets are incomplete
(Fundação Getulio Vargas. Escola de Pós-graduação em Economia, 2001-09-17)
Incomplete markets and non-default borrowing constraints increase the volatility of pricing kernels and are helpful when addressing assetpricing puzzles. However, ruling out default when markets are in complete is suboptimal. ...
Substitution effects in private debt: evidence from SMEs
(2016)
The external finance of small- and medium-sized enterprises (SMEs) is limited to private debt such as bank credit and trade credit. SMEs generally prefer bank credit over trade credit because the former tends to be less ...
9Emerging trade politics: the continuous pendulum from multilateralism to asymmetric trade negotiationsPolíticas de comércio emergentes: o pêndulo contínuodo multilateralismo às negociações assimétricas
(Pontifícia Universidade Católica de Minas Gerais. Departamento de Relações Internacionais, 2014-06)
In this essay we analyze the challenges of asymmetric trade agreements at a time when Mercosur and Ecuador are opening negotiations with the European Union. How can developing countries manage the terms of integration into ...