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We examine the evolution of decentralized clearinghouse mechanisms from the 13th to the 18th century; in particular, we explore the clearing of non- or limitedtradable debts like bills of exchange. We construct a theoretical model of these clearinghouse mechanisms, similar to the models in the...
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question, we identify the compositional changes in banks' supply of credit using the variation in their holdings of residential …
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effect of the reforms on overall credit supply, while at the same time documenting a substantial decline in borrower- and …
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Introduction -- A populist issue -- A venerable practice -- The states attack -- The Crash as a credit event -- The …
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today by credit card companies, payday lenders, and providers of consumer loans would have been easily recognizable at the …, especially to risky borrowers, despite attempts to control the practice by individual states. Usury and loan sharking have not …
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