Coordination Risk and the Price of Debt

By Stephen Morris, Hyun Song Shin. 2004

574 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/c41dc9a310bcbeaaed36ec9685f1c058df1a1812

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Citations in the corpus

Heterogeneity and Uniqueness in Interaction Games (2003, background): “In Morris and Shin (1999, 2000), we have examined the contrasting roles of public and private signals in common value global games where players care only about the value of µ.”
Rating opaque borrowers: why are unsolicited ratings lower? (2010, methodology): “…private information is sufficiently precise, the model can be solved for a unique equilibrium, using the global games approach.15 As has been shown by Morris and Shin (2003, 2004), the equilibrium will be in trigger strategies, i.e., investors will invest in the risky project if they…”
Arms Races and Negotiations (2004, background): “Recent research has studied the role of informative public signals in global games models of the Carlsson and van Damme [5] type (see Morris and Shin [20], [22], Metz [18] and Hellwig [11]).”
Strategic Complementarities and the Twin Crises (2005, unknown): “This assumption does not account for our result of perfect correlation between banking crises and currency crises (See Section 3).”
Uncertainty and Currency Crises: Evidence from Survey Data (2010, methodology): “Morris and Shin (2004) and Hellwig (2002) show that the trigger points and x solve: 0 = hp (x ) i 0 = D p + + y + x t .”
Multiple Lenders and Corporate Distress: Evidence on Debt Restructuring (2008, unknown): “For example, Gertner and Scharfstein (1991) analyze the freerider problem in corporate distress, and Morris and Shin (2004) emphasize the associated welfare loss of a creditor run.”
Dynamic Debt Runs (2010, background): “19This mechanism is closely related to market runs analyzed by Bernardo and Welch (2004) and Morris and Shin (2004a), who treat each rm s credit constraint as exogenously imposed.”
Who Matters in Coordination Problems (2012, background): “…used to study currency attacks (Morris and Shin, 1998), bankruptcies (Morris and Shin, 2004), bank runs (Goldstein and Pauzner, 2005), debt crises (Morris and Shin 2004), political revolutions (Edmond 2008), and other coordination problems. the aggregate investment, which is independent of the…”
Catalytic finance: When does it work? (2006, background): “The subgame that begins with Nature’s draw of θ (the fourth stage of our extensive form game) is similar to a game studied in an earlier paper of ours (Morris and Shin (1999)), and we draw on our analysis there.”
The Causes of Globalization (2000, background): “Pace Alt et al. (1996), all of these actors prefer liberalization over protectionism.”