Cambio de estrategia política y militar de las Fuerzas Armadas Revolucionarias de Colombia –FARC- durante el segundo periodo presidencial de Álvaro Uribe Vélez

Análisis del cambio de la estrategia política y militar de las FARC durante el segundo gobierno presidencial de Álvaro Uribe Vélez y su relación con los logros de la Política de Seguridad Democrática en su lucha contra las mismas.

Loan sales under asymmetric information

Loans are illiquid assets that can be sold in a secondary market even that buyers have no certainty about their quality. I study a model in which a lender has access to new investment opportunities when all her assets are illiquid. To raise funds, the lender may either borrow using her assets as collateral, or she can sell them in a secondary market. Given asymmetric information about assets quality, the lender cannot recover the total value of her assets. There is then a role for the government to correct the information problem using fiscal tools.