Financial Crisis Cycles
A theoretical model shows that debt accumulation during booms delays post-crash recovery through debt overhang and coordination failures, with debt restructuring conditional on recapitalization being more efficient than unconditional subsidies.
Featured in No. 133 on 2 Oct 2026 · on release day
- Released
- 2 Oct 2026
- First featured
- No. 133 · 2 Oct 2026
- Published in
- Not yet, as far as Semantic Scholar knows
- Fanfare
- 2 of 5
- Identifier
- RePEc:cnn:wpaper:26-015e
- Authors
- Keiichiro Kobayashi and Tomoyuki nakajima
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