Over the last decade credit rationing has been regarded increasingly as the outcome of asymmetric Information. Profit maximization of the banks might lead to interest rates lower than the market equilibrium rate. Administering loans at a higher interest rate to the rationed customers will...

Not all markets are always characterized by immediate market clearing, for example due to a delayed adjustment of quantities and prices. Macroeconometric disequilbrium models proved to be a valuable tool in assessing the relevance of such phenomena on goods and labour markets. Asymmetric...

Asymmetric information between lender and borrower is made responsible for financing constraints at the firm level which may influence real activity. In this paper a standard model of credit rationing due to adverse selection and adverse incentive effects is used to derive hypotheses on causes...

Mengenrationierungsmodelle erwiesen sich in den vergangenen Jahren als geeignete Instrumente, um Entwicklungen auf Güter- und Arbeitsmärkten zu beschreiben. Wesentliches Ingrediens dieser Modelle ist die Abkehr von der Annahme ständig preisgeräumter Märkte. Als Ursache für die Rationierung...