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Absolute priority rule violations in bankruptcy

Author

Listed:
  • Stanley D. Longhofer
  • Charles T. Carlstrom

Abstract

An examination of the impact of APR violations, demonstrating that the efficiency of such violations depends on the specific contracting problem with which a firm and its creditors are faced, and that as a result, an optimal bankruptcy institution should allow contract participants to decide ex ante whether such violations will occur.

Suggested Citation

  • Stanley D. Longhofer & Charles T. Carlstrom, 1995. "Absolute priority rule violations in bankruptcy," Economic Review, Federal Reserve Bank of Cleveland, issue Q IV, pages 21-30.
  • Handle: RePEc:fip:fedcer:y:1995:i:qiv:p:21-30
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    References listed on IDEAS

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    1. Jack Beebe & Gary C. Zimmerman, 1982. "Fed pricing," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue mar12.
    2. Scott E. Knudson & Jack K. Walton & Florence M. Young, 1994. "Business-to-business payments and the role of financial electronic data interchange," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Apr, pages 269-278.
    3. Hirshleifer,Jack & Glazer,Amihai & Hirshleifer,David, 2005. "Price Theory and Applications," Cambridge Books, Cambridge University Press, number 9780521523424, December.
    4. Roberts, Kevin W S, 1979. "Welfare Considerations of Nonlinear Pricing," Economic Journal, Royal Economic Society, vol. 89(353), pages 66-83, March.
    5. Walter Y. Oi, 1971. "A Disneyland Dilemma: Two-Part Tariffs for a Mickey Mouse Monopoly," The Quarterly Journal of Economics, Oxford University Press, vol. 85(1), pages 77-96.
    6. David B. Humphrey, 1982. "Costs, scale economies, competition, and product mix in the U.S. payments mechanism," Staff Studies 115, Board of Governors of the Federal Reserve System (U.S.).
    7. Gary C. Zimmerman, 1981. "The pricing of Federal Reserve services under MCA," Economic Review, Federal Reserve Bank of San Francisco, issue Win, pages 22-40.
    8. Paul W. Bauer, 1993. "Efficiency and technical progress in check processing," Economic Review, Federal Reserve Bank of Cleveland, issue Q III, pages 24-38.
    9. Baumol, William J & Bradford, David F, 1970. "Optimal Departures from Marginal Cost Pricing," American Economic Review, American Economic Association, vol. 60(3), pages 265-283, June.
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    Citations

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    Cited by:

    1. Régis Blazy & Bertrand Chopard & Agnès Fimayer & Jean-Daniel Guigou, 2007. "Financial versus Social Efficiency of Corporate Bankruptcy Law: the French Dilemma?," LSF Research Working Paper Series 07-02, Luxembourg School of Finance, University of Luxembourg.
    2. Tom Fischer, 2010. "No-arbitrage pricing under cross-ownership," Papers 1005.0768, arXiv.org.
    3. Bertrand Chopard, 2005. "« Ex post » vs « Ex ante » : le cas de l’économie du droit de la faillite," Revue d'Économie Financière, Programme National Persée, vol. 81(4), pages 291-303.
    4. Stef Nicolae, 2017. "Voting Rules in Bankruptcy Law," Review of Law & Economics, De Gruyter, vol. 13(1), pages 1-39, March.
    5. Stanley D. Longhofer, 1997. "Absolute priority rule violations, credit rationing, and efficiency," Working Paper 9710, Federal Reserve Bank of Cleveland.

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