Dellas, Harris; Niepelt, Dirk - CESifo - 2014
more favourable loan package; that it is associated with over-investment even when investment does not create collateral … augmented to include incomplete information about credit risk. Austerity is defined as the shortfall of consumption from the …; and that low risk borrowers may favour more to less severe austerity. These findings imply that the amount of fresh funds …