The optimal exclusion length of borrowers after default
研究了如何设定最优的禁止借款期限以防止借款人策略性违约，发现期限长短取决于借款人风险、回报率、市场竞争、存款利率和市场参与者耐心程度。
We determine the optimal exclusion from borrowing to avoid strategic default. The optimal length is smaller if borrowers are less risky, have higher returns, markets are more competitive, deposit rates are low, and the more patient market participants are.