This paper studies sequence economies over an infinite horizon with general security structures. Assumptions are given under which a pseudo-equilibrium exists for all economies and an equilibrium exists for a dense set of (appropriately parameterized) economies. Under these assumptions the indebtedness of the agents in equilibrium can be limited either by an explicit bound on their debts or by ...

Abstract I estimate the effect of sovereign debt renegotiation on international trade. Sovereigns may fear the trade consequences of default; because creditors deter default, or because trade finance dries up. I use an empirical gravity model of trade and a panel data set covering fifty years, over 150 countries, and other factors that influence bilateral trade. Debt renegotiation is associated...

Abstract This article examines the recent amendments made to Jordanian Execution Law in respect of imprisonment for failure pay debts civil and commercial nature. While on are long-awaited an improvement administration justice Country; it remains that these came below expectations. First, short from international obligations Country under International Covenant Civil Political Rights ( ICCPR ) ...