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Unsecured Credit and Self-Employment

  • Kartik Athreya

    (Federal Reserve Bank of Richmond)

  • Ahmet Akyol

    (York University)

by shifting borrowing away from younger and poorer households, to older, richer ones. In sum, strict limits to liability impede credit markets, and do so in a way that is quite regressive.

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Paper provided by Society for Economic Dynamics in its series 2007 Meeting Papers with number 49.

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Date of creation: 2007
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Handle: RePEc:red:sed007:49
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Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA

Web page: http://www.EconomicDynamics.org/
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  18. John Heaton & Deborah Lucas, 2000. "Portfolio Choice and Asset Prices: The Importance of Entrepreneurial Risk," Journal of Finance, American Finance Association, vol. 55(3), pages 1163-1198, 06.
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