We develop a general model of lending in the presence of endogenous borrowing constraints. Borrowing constraints arise because borrowers face limited liability and debt repayment cannot be perfectly enforced. In the model, the dynamics of debt are closely linked with the dynamics of borrowing constraints. In fact, borrowing constraints must satisfy a dynamic consistency requirement: The value o...

For many households, paying lower borrowing costs is the surest, fastest way to increase net worth. Using administrative, credit bureau and survey data on U.S. credit cards, we find pervasive and systematic cross-individual variation in borrowing costs. Credit risk and product differentiation explain about one-third of that variation. The remaining riskadjusted dispersion can materially affect ...

In the context of a simple model of public good provision, we study the requirement on an allocation rule that it be immune to manipulation by augmenting one’s endowment through borrowing from the outside world. We call it open-economy borrowing-proofness (Thomson, 2009). We ask whether the Lindahl rule satisfies the property. The answer is yes on both the domain of quasi-linear economies and o...

Loanword phonology seeks to model the process by which foreign words are ‘nativised’ or incorporated into the phonological system of the ‘borrowing’ language. We can conceive of this as a parsing of the phonetic input provided by the foreign word forms, in accordance with phonological output constraints of the borrowing language. Following Silverman (1992) we conceive loanword formation as fund...

In the past, foreign borrowing by developing countries was comprised almost entirely of government borrowing. Recently, private firms and individuals in developing countries borrow substantially from foreign lenders. It is not clear whether the observed increase in private sector borrowing leads to overborrowing and frequent defaults by governments in developing countries. In this paper, we dev...

INTRODUCTION AND AIMS Thailand's longstanding HIV epidemic among injection drug users (IDU) has been attributed, in part, to the Thai government's unwillingness to implement evidence-based HIV prevention interventions. This study was undertaken to examine risk factors for syringe borrowing among a community-recruited sample of Thai IDU. DESIGN AND METHODS We examined the prevalence of syringe...

This review of research considers the occurrence and function of Spanish discourse markers and other particles in indigenous speech. I discuss important research that has examined these phenomena and refer to studies of bilingual discourse markers in other non-indigenous language contact situations to address unresolved issues concerning the form and function of these particles in indigenous la...

While many research studies have described Cantonese-Mandarin contact and the languages’ mutual influence in Guangdong Province, few of them delve into the linguistic mechanism that triggers Cantonese’s material (e.g. words, pronunciations, and/or grammar) transfer to Mandarin. This paper will work to explain this mechanism in Van Coetsem’s (1988) framework of “Borrowing and Imposition”. The Ca...

The language is entering the era of information society and undergoing changes associated with borrowing words from dominant language. With development social, political, economic cultural conditions other societies, there a “mixing languages” or “language contact”. This process affects structure vocabulary one languages. Since contact occurs through social speech interaction native speakers, r...

This contribution reviews (some of) the history of analysis by synthesis, an approach to perception and comprehension articulated in the 1950s. Whereas much research has focused on bottom-up, feed-forward, inductive mechanisms, analysis by synthesis as a heuristic model emphasizes a balance of bottom-up and knowledge-driven, top-down, predictive steps in speech perception and language comprehen...