The paper extends the Bierman-Hausman credit granting model by incorporating economic factors, which may vary randomly … over time. Sufficient conditions are found for the optimality of simple credit policies. The monotonicity results are based … on nonstandard orderings induced by the probability of collection. Moreover, monotonicity of the credit policy with …

distributed government directed soft credit at unsustainable interest rates to financially troubled farms in order to cover losses … input markets from direct state involvement to substantial credit subsidies. In these policy changes the government of …

-term horizons of less than two years. Furthermore, the market expectation formation processes of short-term interest rates change …