Working Paper
Absolute priority rule violations, credit rationing, and efficiency
Abstract: A demonstration that violations of the absolute priority rule exacerbate credit rationing problems by reducing the payment lenders receive in default states.
Keywords: Bankruptcy; Credit;
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https://doi.org/10.26509/frbc-wp-199710
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Bibliographic Information
Provider: Federal Reserve Bank of Cleveland
Part of Series: Working Papers (Old Series)
Publication Date: 1997
Number: 9710