This paper proposes a stochastic model of a bipartite credit network between banks and the non-bank corporate sector … number of loans seems fuzzy. Distinguishing between contagion due to interbank credit and due to joint exposures to …

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

rights, we find that adoption of ARL increases the likelihood of BCC inclusion. Using credit default swap (CDS) trading as a …

It is commonly believed that borrowers cannot be anonymous in unsecured credit relations because anonymity heavily … reduces the scope for punishment and therefore makes credit unfeasible except for very special circumstances. However, we … demonstrate that credit is generally feasible even if borrowers are anonymous. In particular, we construct equilibria where …

lending in the sense that some socially productive firms are denied credit due to excessively high interest rate. …