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Lending Booms, Reserves, and the Sustainability of Short-Term Debt : Inferences from the Pricing of Syndicated Bank Loans

Eichengreen, Barry - 1999

banks in providing credit to smaller borrowers about whom information is least complete and, more generally, support the …

Persistent link: https://www.econbiz.de/10012471681

Measuring the Welfare Cost of Asymmetric Information in Consumer Credit Markets

DeFusco, Anthony A.; Tang, Huan; Yannelis, Constantine - National Bureau of Economic Research - 2021

Information asymmetries are known in theory to lead to inefficiently low credit provision, yet empirical estimates of … to estimate welfare losses arising from asymmetric information in the market for online consumer credit. Building on … price distortions, we find only small overall welfare losses, particularly for high-credit-score borrowers …

Persistent link: https://www.econbiz.de/10012629490

Big Loans to Small Businesses : Predicting Winners and Losers in an Entrepreneurial Lending Experiment

Bryan, Gharad; Karlan, Dean; Osman, Adam - National Bureau of Economic Research - 2021

-performers drop. The magnitude of this difference implies that an individual lender's credit allocation choices matter for aggregate … larger loans based on prior performance is not efficient. Our results have important implications for credit expansion policy …

Persistent link: https://www.econbiz.de/10012629531

The Role of Dynamic Renegotiation and Asymmetric Information in Financial Contracting

Roberts, Michael R. - 2014

the financial health of the contracting parties and uncertainty regarding the borrowers' credit quality. The relative …

Persistent link: https://www.econbiz.de/10012458184

Imperfect Information, Credit Markets and Unemployment

Greenwald, Bruce C. - 1986

This paper describes how imperfect information in both capital and labor markets can, in a context of maximizing firms and perfectly flexible prices and wages, give rise to cyclical variations in unemployment whose character closely resembles that of observed business cycles

Persistent link: https://www.econbiz.de/10012476976

Persistent Private Information

Williams, Noah - 2008

This paper studies the design of optimal contracts in dynamic environments where agents have private information that is persistent. In particular, I focus on a continuous time version of a benchmark insurance problem where a risk averse agent would like to borrow from a risk neutral lender to...

Persistent link: https://www.econbiz.de/10012464753

The Insurance is the Lemon : Failing to Index Contracts

Hartman-Glaser, Barney - 2019

We model the widespread failure of contracts to share risk using available indices. A borrower and lender can share risk by conditioning repayments on an index. The lender has private information about the ability of this index to measure the true state that the borrower would like to hedge. The...

Persistent link: https://www.econbiz.de/10012479406

Risk Taking, Limited Liability and the Competition of Bank Regulators

Sinn, Hans-Werner - 2001

Limited liability and asymmetric information between an investment bank and its lenders provide an incentive for a bank to undercapitalise and finance overly risky business projects. To counter this market failure, national governments have imposed solvency constraints on banks. However, these...

Persistent link: https://www.econbiz.de/10012470046

Banks as Secret Keepers

Dang, Tri Vi - 2014

Banks are optimally opaque institutions. They produce debt for use as a transaction medium (bank money), which requires that information about the backing assets - loans - not be revealed, so that bank money does not fluctuate in value, reducing the efficiency of trade. This need for opacity...

Persistent link: https://www.econbiz.de/10012458411

Know Your Customer : Informed Trading by Banks

Haselmann, Rainer; Leuz, Christian; Schreiber, Sebastian - National Bureau of Economic Research - 2022

-by-trade supervisory data and credit-registry data to examine banks' proprietary trading in borrower stocks around a large number of …

Persistent link: https://www.econbiz.de/10013388877

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