NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Risky Investments with Limited Commitment

Thomas F. Cooley, Ramon Marimon, Vincenzo Quadrini

NBER Working Paper No. 19594
Issued in October 2013

---- Acknowledgements -----

We would like to thank Youssef Cassis, Robert Lucas, Facundo Piguillem, Kim Schoenholtz, Danyang Xie and other seminar participants at Banca d'Italia, Banque de France, Bank of Turkey, Tel Aviv University, Hebrew University of Jerusalem, New York University, et al., for their comments on previous versions of this work. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

---- Disclosure of Financial Relationships for Thomas F. Cooley -----

Thomas F. Cooley is a member of the Board of Managers and A consultant to Standard and Poors Ratings, LLC.

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