This paper considers a credit mechanism for selecting a unique competitive equilibrium (CE). It is shown that in … for default subject to appropriate penalties results in a construction of a simple credit mechanism for a credit using … CE can be a unique selection for the credit mechanism with appropriate default penalties. The selection can be utilized …

penalties for a credit mechanism to select a unique competitive equilibrium (CE). With some additional conditions, a common … credit money can be applied such that any CE can be a unique selection by the credit mechanism with appropriate credit limits …