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Two (Further) Possible Explanations of the Secured Debt Puzzle:

The article offers one possible explanation of why secured debt (and its priority in bankruptcy) is efficient and one possible explanation supporting the contrary claim - that priority of secured debt is inefficient.

Link	http://ies.fsv.cuni.cz/st…/publication/1714_two.pdf
Author	Knot, O
Date	2006
Institute	Institute of Economic Studies
Tags	debt, bankruptcy,

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Publications → Financial Markets → Monetary and Credit Policy

Two (Further) Possible Explanations of the Secured Debt Puzzle:

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