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    • With Additional Enforcement Mechanisms, does Collateral Avoid Ponzi Schemes? 

      Revil, Thiago; Torres Martínez, Juan Pablo (Universidad de Chile, Facultad de Economía y Negocios, 2008)
      In infinite horizon incomplete market economies, when the seizure of collateral guarantees is the only mechanism enforcing borrowers not to entirely default on their promises, equilibrium exists independently of the ...