Vintage capital and creditor protection

Journal of Financial Economics

Volumn 99, Issue 2, 2011, Pages 308-332

  Benmelech, Efraim ^a,c   Bergman, Nittai K ^b,c  

^a HARVARD UNIVERSITY   (United States)

^b MASSACHUSETTS INSTITUTE OF TECHNOLOGY   (United States)

^c NATIONAL BUREAU OF ECONOMIC RESEARCH   (United States)

Author keywords

Asset backed securities; Bankruptcy; Collateral; Contagion

Indexed keywords

EID: 78650305374     PISSN: 0304405X     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jfineco.2010.09.004     Document Type: Article

References (43)

1. Acharya V., Subramanian K. Bankruptcy codes and innovation. Review of Financial Studies 2009, 22:4949-4988.
2. Acharya, V., Amihud, Y., Litov, L., 2008. Creditor rights and corporate risk-taking. Unpublished working paper, New York University.
3. Air Transport Association, 2007. The Airline Handbook.
4. Beck T., Levine R., Loayza N. Finance and the sources of growth. Journal of Financial Economics 2000, 58:261-300.
5. Benhabib J., Rustichini A. Vintage capital, investment, and growth. Journal of Economic Theory 1991, 55:323-339.
6. Benmelech E., Bergman N. Liquidation values and the credibility of financial contract renegotiation: evidence from U.S. airlines. Quarterly Journal of Economics 2008, 123:1635-1677.
7. Benmelech E., Bergman N. Collateral pricing. Journal of Financial Economics 2009, 91:339-360.
8. Bergman N., Nicolaievsky D. Investor protection and the Coasian view. Journal of Financial Economics 2007, 84:738-771.
9. Braun, M., 2003. Financial contractibility and assets' hardness. Unpublished working paper, Harvard University.
10. Boucekkine R., De la Croix D., Licandro O. Vintage capital. The New Palgrave Dictionary of Economics 2008, 628-631. Palgrave Macmillan. L. Blume, S. Durlauf (Eds.).
11. Bulow J., Rogoff K. A constant recontracting model of sovereign debt. Journal of Political Economy 1989, 97:155-178.
12. Bulow J., Rogoff K. Sovereign debt: is to forgive to forget?. American Economic Review 1989, 79:43-50.
13. Chari V., Hopenhayn H. Vintage human capital, growth and the diffusion of new technology. Journal of Political Economy 1991, 99:1142-1165.
14. Demirguc-Kunt A., Maksimovic V. Law, finance, and firm growth. Journal of Finance 1998, 53:2107-2137.
15. Djankov S., La Porta R., Lopez-de-Silanes F., Shleifer A. Courts. Quarterly Journal of Economics 2003, 118:453-517.
16. Djankov S., McLiesh C., Shleifer A. Private credit in 129 countries. Journal of Financial Economics 2007, 84:299-329.
17. Eisfeldt A., Rampini A. New or used? Investment with credit constraints. Journal of Monetary Economics 2007, 54:2656-2681.
18. Eisfeldt A., Rampini A. Leasing, ability to repossess, and debt capacity. Review of Financial Studies 2009, 22:1621-1657.
19. Esty B., Megginson W. Creditor rights, enforcement, and debt ownership structure: evidence from the global syndicated market. Journal of Financial and Quantitative Analysis 2003, 38:37-59.
20. Fisman R., Love I. Financial development and intersectoral allocation: a new approach. Journal of Finance 2004, 59:2785-2807.
21. Gavazza A. Asset liquidity and financial contracts: evidence from aircraft leases. Journal of Financial Economics 2010, 95:62-85.
22. Greenwood J., Hercowitz Z., Krusell P. Long-run implications of investment specific technological change. American Economic Review 1997, 87:342-362.
23. Guiso L., Sapienza P., Zingales L. Does local financial development matter?. Quarterly Journal of Economics 2004, 119:929-969.
24. Hsieh C. Endogenous growth and obsolescence. Journal of Development Economics 2001, 66:153-171.
25. Jovanovic B. Vintage capital and inequality. Review of Economic Dynamics 1998, 1:497-530.
26. King R., Levine R. Finance and growth: Schumpeter might be right. Quarterly Journal of Economics 1993, 108:717-738.
27. Kloek T. OLS estimation in a model where a microvariable is explained by aggregates and contemporaneous disturbances are equicorrelated. Econometrica 1981, 49:205-207.
28. Knack S., Keefer P. Institutions and economic performance: cross-country tests using alternative institutional measures. Economics and Politics 1995, 7:207-227.
29. Kumar, K., Rajan, R., Zingales, L., 2002. What determine firm size? Unpublished working paper, University of Chicago.
30. La Porta R., Lopez-de-Silanes F., Shleifer A., Vishny R. Legal determinants of external finance. Journal of Finance 1997, 52:1131-1150.
31. La Porta R., Lopez-de-Silanes F., Shleifer A., Vishny R. Law and finance. Journal of Political Economy 1998, 106:1113-1155.
32. La Porta R., Lopez-de-Silanes F., Shleifer A., Vishny R. The economic consequences of legal origin. Journal of Economics Literature 2008, 46:285-332.
33. Lerner J., Schoar A. Does legal enforcement affect financial transactions? The contractual channel in private equity. Quarterly Journal of Economics 2005, 120:223-246.
34. Liberty J., Mian A. Collateral spread and financial development. Journal of Finance 2010, 65:147-178.
35. Littlejohns, A., McGairl, S. (Eds.), 1998. Aircraft Financing, third ed., Euromoney Books, England.
36. Morrel P. Airline Finance 2007, Ashgate, USA. second ed.
37. Ongena S., Smith D. What determines the number of bank relationships? Cross-country evidence. Journal of Financial Intermediation 2000, 9:26-56.
38. Qian J., Strahan P. How law and institutions shape financial contracts: the case of bank loans. Journal of Finance 2007, 62:2803-2834.
39. Rajan R., Zingales L. Financial dependence and growth. American Economic Review 1998, 88:559-586.
40. Solow R. Investment and technological progress. Mathematical Methods in Social Sciences 1960, vol. 1959:89-104. Stanford University Press.
41. Shleifer A. Will the sovereign market survive?. American Economic Review 2003, 93:85-90.
42. Singfield T. Airliners Worldwide 2005, Midland Publishing. second ed.
43. Wurgler J. Financial markets and the allocation of capital. Journal of Financial Economics 2000, 58:187-214.