@inbook{648cbe6ac2444cae8a47bc9df2317256,
title = "Collateral Versus Default History",
abstract = "This paper deals with equilibrium existence for incomplete markets economies with finitely-lived agents and infinitely-lived agents when default is allowed and borrowers have to constitute collateral in terms of durable goods. In the first model, lenders are protected by an exogenous personalized collateral. In the second model, the personalized collateral requirements are endogenously determined by a financial institution whose objective is to minimize the default rate taking into account agent{\textquoteright}s default history.",
keywords = "Incomplete Market, Spot Market, Default Rate, Demographic Structure, Mortgage Market",
author = "Marta Faias and Abdelkrim Seghir",
note = "Funda{\c c}{\~a}o para a Ci{\^e}ncia e a Tecnologia (Portuguese Foundation for Science and Technology) through PEst-OE/MAT/UI0297/2014 (CMA).",
year = "2015",
doi = "10.1007/978-3-319-16118-1_14",
language = "English",
isbn = "978-3-319-16117-4",
series = "Dynamics, Games and Science",
pages = "273--290",
booktitle = "Dynamics, Games and Science",
}