Credit markets with asymmetric information : a survey
We attempt to survey the most important implications of informational asymmetries in credit markets. First, we review the various explanations of equilibrium credit rationing, then we discuss their robustness if collateral and loan size are used as signals of credit worthiness. Then we show the importance of the modelling strategy for the conclusions derived about credit market equilibria. Finally, we discuss the role of different contracts and conclude by suggesting areas of further research.
Year of publication: |
1992
|
---|---|
Authors: | Clemenz, Gerhard ; Ritthaler, Mona |
Published in: |
Finnish Economic Papers. - Taloustieteellinen Yhdistys. - Vol. 5.1992, 1, p. 12-26
|
Publisher: |
Taloustieteellinen Yhdistys |
Saved in:
freely available
Saved in favorites
Similar items by person
-
Credit markets with asymmetric information : a survey
Clemenz, Gerhard, (1992)
-
Ritthaler, Mona, (1994)
-
Ritthaler, Mona, (1994)
- More ...