political novel is one of the kinds of persian literature with special factors, which are different from other contemporary story writing styles.  these types of stories are more accommodated with critical discourse analysis (cda) among other methods of novel analyses compared to other types, because of their specificity and unique quality of and their close relations with society and political...

Political novel is one of the kinds of Persian Literature with special factors, which are different from other contemporary story writing styles.  These types of stories are more accommodated with critical discourse analysis (CDA) among other methods of novel analyses compared to other types, because of their specificity and unique quality of and their close relations with society and political...

OBJECTIVES Unsecured consumer debt may affect well-being negatively. We evaluated the association between unsecured debt and two distinct outcomes: depressive symptomatology and psychological well-being. METHOD Data were obtained from the 2006 Health and Retirement Study. There were 5,817 adults aged ≥ 51 who responded to a core survey and psychosocial leave-behind questionnaire. Depressive s...

In U.S. data 1981–2012, unsecured firm credit moves procyclically and tends to lead GDP, while secured firm credit is acyclical; similarly, shocks to unsecured firm credit explain a far larger fraction of output fluctuations than shocks to secured credit. In this paper we develop a tractable dynamic general equilibrium model in which unsecured firm credit arises from self-enforcing borrowing co...

Agency theory in modern corporate finance suggests the presence of a conflict of interest between managers and shareholders. Prior theoretical and empirical research has identified leverage as an important mechanism that is likely to mitigate agency costs. Although debt plays a central role in mitigating corporate agency conflicts, relatively few studies have examined the implications that aris...

This paper explores two related questions: Does unsecured debt help households supplement lost earnings during unemployment, and does limited access to such credit have important welfare implications? These questions have become particularly relevant as consumers increasingly rely on unsecured debt to finance consumption. Growth in unsecured debt has been most striking among the poor. Some rese...

The objective of this note is to show that the positively valued excess supplies which Aiyagari (1992) connects with Pareto inefficiency for overlapping generations economies represent an economic opportunity that can potentially be exploited by government or by a private financial intermediary through the issuance of unsecured debt. We demonstrate that, when unsecured debt is issued, Walras’ L...

In the past few years, there have been several new developments in the way real estate investment trusts (REITs) access capital. There has been an increasing trend toward the use of unsecured debt, and REITs may also alter their dividend policy in order to generate capital internally to the extent they can. There has been little empirical research into the market's reaction to unsecured debt an...

We study how individual banks borrow and lend in the euro unsecured secured interbank market. find that with lower credit worthiness replace borrowing, which is consistent a reduction supply of loans rather than demand for funding. Riskier lenders lending, suggesting take precautionary measures prefer to against safe collateral. Our results highlight importance joint analysis Separate analyses ...

We build a general equilibrium model with incompl ete markets, production, default, and bankruptcy. The existence of equ ilibrium is proved. Theoretically, under app ropriate conditions, we show that the reduced-form entrepre neurial equ ilibrium and profit-maximization entrepreneurial equilibrium, as defined by Magill and Quinzii (1996), are equivalent. In addition, we find an inverse relation...