show that the incidence of inefficient credit termination and subsequent firm liquidation is contingent on the borrower … inefficient credit decisions than monopoly relationship lending or homogeneous multiple banking, provided that the relationship …

The recent financial crisis has put the spotlight on the rapid rise in credit which preceded it. In this paper, we … provide an empirical and theoretical analysis of the credit boom and the macroeconomic context in which it developed. We find … economies in which it took place. We show that this type of credit and financial cycle is hard to reconcile with existing …

Communal responsibility, a medieval institution studied by Greif (2006), supported the use of credit among European …. Enforceability within each village's centralized afternoon market ensures collateralization of credit in decentralized markets. In … the resulting equilibrium, money and credit coexist in decentralized markets if the use of credit is costly. Our analysis …

Credit contracting between a lender with a market power and a small start-up entrepreneur may lead to a rejection of … be eliminated by a government support in the form of credit guarantees or subsidies. The principal-agent model of this …

By using short-term direct finance firms of the highest credit quality expose themselves to rollover risk in the public … debt markets. Firms insure themselves against this risk by securing backup lines of credit from banks that they may use … of firm's publicly observable credit quality. Under plausible assumptions about the cost of bank borrowing the model …