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PRODID:-//Memento EPFL//
BEGIN:VEVENT
SUMMARY:Refinance
DTSTART:20151120T103000
DTEND:20151120T120000
DTSTAMP:20260407T043354Z
UID:31842bd4287cfeeb15d18b477a8b734a9cb68462b4c405ae3ddcbd77
CATEGORIES:Conferences - Seminars
DESCRIPTION:John YIRAN ZHU (University of Pennsylvania)\nThis paper provid
 es a micro-foundation for refinance. The micro-foundation relates the opti
 mality of refinanceable contracts to the financing relationship being gove
 rned by a preference for robustness. As an application\, I consider a cano
 nical\, dynamic financial contracting setting with asymmetric information\
 , where the borrower privately observes the state of the world. Preference
  for robustness is sufficient and\, in some sense\, almost necessary for t
 he optimal contract to be refinanceable debt.
LOCATION:UNIL\, Extranef\, room 126 https://planete.unil.ch/plan/?local=EX
 T-126
STATUS:CONFIRMED
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