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econ.GN2018
Some Nontrivial Properties of a Formula for Compound Interest
Isaac M. Sonin, Mark Whitmeyer
We analyze the classical model of compound interest with a constant per-period payment and interest rate. We examine the outstanding balance function as well as the periodic paymen…
econ.GN2017★ 2 cited
Banks as Tanks: A Continuous-Time Model of Financial Clearing
Isaac M. Sonin, Konstantin Sonin
We present a simple continuous-time model of clearing in financial networks. Financial firms are represented as "tanks" filled with fluid (money), flowing in and out. Once "pipes"…