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The construction of a New Socialist Countryside (NSC) is among the highlights in the People's Republic of China's (PRC) 11th Five-Year Plan (2006-2010). The NSC aims to accelerate the development and modernization of the agricultural and rural economy in order to close the widening rural-urban...
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Both securitization and remote lending have become much more extensive since the 1970s. We present a tractable theoretical model that links these two trends. DeMarzo and Duffie (Econometrica 1999) study the problem of a bank that wishes to securitize an exogenous portfolio of loans about which...
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