Liquidity Constrained Markets Versus Debt Constrained Markets

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Financial Liberalization and Consumption Volatility in Developing Countries (2005, background): “The basic model is a simple version of Kocherlakota (1996) or Kehoe and Levine (2001).”
Consumption and Saving: Models of Intertemporal Allocation and Their Implications for Public Policy (2010, unknown): “29 Other papers that have studied this class of models are Kehoe and Perri (2002) and Kehoe and Levine (2001) 30 Udry (1998), however, stresses the importance of private information in the region of Nigeria he studies.”
Housing and Liquidity (2015, background): “At the other extreme is no punishment, not even exclusion from future credit as in Kehoe and Levine (2001) or Alvarez and Jermann (2000), say, because borrowers are anonymous.”
Optimal Development Policies With Financial Frictions (2014, background): “Note, however, that the constraint is essentially static because it rules out optimal long-term contracts (as in Kehoe and Levine, 2001, for example).”
Growth and welfare effects of business cycles in economies with idiosyncratic human capital risk (2003, background): “In contrast, Alvarez and Jermann (2000), Kehoe and Levine (1993, 2001) , and Kocherlakota (1996) do not limit the set of tradable assets, but constrain the extent to which existing assets may be traded by introducing additional solvency constraints that arise from commitment/enforcement problems.”