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Author : Helmut Bester
Publisher :
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4.:/5 (461 download)
Download or read book Moral hazard and equilibrium credit rationing written by Helmut Bester and published by . This book was released on 1987 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Anindya Banerjee
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.X/5 (1 download)
Download or read book Moral Hazard and Limited Liability in the Market for Loans written by Anindya Banerjee and published by . This book was released on 1988 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ying Wu
Publisher : Routledge
ISBN 13 : 1351784633
Total Pages : 181 pages
Book Rating : 4.3/5 (517 download)
Download or read book An Analysis of Credit and Equilibrium Credit Rationing written by Ying Wu and published by Routledge. This book was released on 2017-05-18 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study, first published in 1994, is intended to deepen the readers understanding of the phenomenon of equilibrium credit rationing in two areas. The first area concerns the form that equilibrium credit rationing assumes and its importance in determining the behaviour of interest rates. The second concerns the role of equilibrium credit rationing in transmitting monetary shocks to the real sector. This title will be of interest to students of monetary economics.
Author : William R. Keeton
Publisher : Routledge
ISBN 13 : 135179891X
Total Pages : 196 pages
Book Rating : 4.3/5 (517 download)
Download or read book Equilibrium Credit Rationing written by William R. Keeton and published by Routledge. This book was released on 2017-04-28 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study, first published in 1979, examines and contrasts two concepts of credit rationing. The first concept takes the relevant price of credit to be the explicit interest rate on the loan and defines the demand for credit as the amount an individual borrower would like to receive at that rate. Under the alternative definition, the price of credit consists of the complete set of loan terms confronting a class of borrowers with given characteristics, while the demand for credit equals the total number of loan which members of the class would like to receive at those terms. This title will be of interest to students of monetary economics.
Author : Gerhard Clemenz
Publisher : Springer Science & Business Media
ISBN 13 : 3642456146
Total Pages : 223 pages
Book Rating : 4.6/5 (424 download)
Download or read book Credit Markets with Asymmetric Information written by Gerhard Clemenz and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Günter Bamberg
Publisher : Springer Science & Business Media
ISBN 13 : 3642750605
Total Pages : 538 pages
Book Rating : 4.6/5 (427 download)
Download or read book Agency Theory, Information, and Incentives written by Günter Bamberg and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 538 pages. Available in PDF, EPUB and Kindle. Book excerpt: Agency Theory is a new branch of economics which focusses on the roles of information and of incentives when individuals cooperate with respect to the utilisation of resources. Basic approaches are coming from microeco nomic theory as well as from risk analysis. Among the broad variety of ap plications are: the many designs of contractual arrangements, organiza tions, and institutions as well as the manifold aspects of the separation of ownership and control so fundamental for business finance. After some twenty years of intensive research in the field of information economics it might be timely to present the most basic issues, questions, models, and applications. This volume Agency Theory, Information, and Incentives offers introductory surveys as well as results of individual rese arch that seem to shape that field of information economics appropriately. Some 30 authors were invited to present their subjects in such a way that students could easily become acquainted with the main ideas of informa tion economics. So the aim of Agency Theory, Information, and Incentives is to introduce students at an intermediate level and to accompany their work in classes on microeconomics, information economics, organization, management theory, and business finance. The topics selected form the eight sections of the book: 1. Agency Theory and Risk Sharing 2. Information and Incentives 3. Capital Markets and Moral Hazard 4. Financial Contracting and Dividends 5. External Accounting and Auditing 6. Coordination in Groups 7. Property Rights and Fairness 8. Agency Costs.
Author : Timothy M. Devinney
Publisher : Springer Science & Business Media
ISBN 13 : 3642826490
Total Pages : 110 pages
Book Rating : 4.6/5 (428 download)
Download or read book Rationing in a Theory of the Banking Firm written by Timothy M. Devinney and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: The existence of non-price rationing in credit markets is a subj ect, not only of paramount importance, but of considerable controversy, which is ultimately linked with our understanding, or lack thereof, of the basic nature of the banking firm. A recognition of this phenomenon is critical to the understanding of the banking firm in its major role as a financial intermediary. The banking firm serves as an intermediary in two important spheres, between borrower and lender, and between spenders and the monetary authorities. The basic economic formulation of borrower-lender behavior, the simple Fisherian consumption loan model, while beautiful in its simplicity, fail s to acknowledge any role for a non-neutral financial intermediary. The bank, in its second intermediary role, leads one to question the assumption of both neoclassical and Keynsian monetary theories that monetary changes are diffused across the economy (the proverbial monetary helicopter). Monetary policy effects on spending and investment will clearly be biased by the policies of the banks. The major focus of the present work is the development of a theory of credit rationing based upon the existence of risk reducing information technologies. Implicit in the analysis is a discussion of the role of the banking firm as something more than a tr·aditional financial intermediary. The present analysis will focus on the bank as an intermediary between borrower and lender. It will be shown that in .
Author : Jeeman Jung
Publisher :
ISBN 13 :
Total Pages : 138 pages
Book Rating : 4.:/5 (478 download)
Download or read book Credit Rationing with Moral Hazard and Mean Reversion written by Jeeman Jung and published by . This book was released on 1993 with total page 138 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gwilym B.J. Pryce
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Dependence of Equilibrium Credit Rationing on the Nature of Loan Insurance written by Gwilym B.J. Pryce and published by . This book was released on 1998 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper shows how imperfect information in the insurance market can produce equilibrium credit rationing in the credit market even when the market for credit is symmetrically informed. This occurs if the insurance company uses either endogenous premiums or endogenous coverage as a response to the moral hazard problems associated with asymmetric information. The fact that asymmetric information in one market can have spillover effects into another adds to the importance of established asymmetric information results. The paper begins by showing how the credit rationing result of Stiglitz and Weiss (1981) is sensitive to the existence of risk assessment, and how a rise in interest rates may actually produce 'favourable selection' when the bank is able to differentiate between risks. The paper then shows how the introduction of endogenous insurance contracts may result in credit rationing in the credit market even when risk assessment is available to banks.
Author : Jon Strand
Publisher :
ISBN 13 : 9788257083892
Total Pages : 25 pages
Book Rating : 4.0/5 (838 download)
Download or read book Competitive Credit Markets with Adverse Selection and Moral Hazard written by Jon Strand and published by . This book was released on 1988 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Wolfgang Kürsten
Publisher :
ISBN 13 :
Total Pages : 20 pages
Book Rating : 4.:/5 (257 download)
Download or read book Credit Rationing and Collateral Under Adverse Selection and Moral Hazard written by Wolfgang Kürsten and published by . This book was released on 1996 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gerhard Clemenz
Publisher :
ISBN 13 :
Total Pages : 23 pages
Book Rating : 4.:/5 (312 download)
Download or read book Moral Hazard and Credit Rationing written by Gerhard Clemenz and published by . This book was released on 1996 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ms.Mwanza Nkusu
Publisher : International Monetary Fund
ISBN 13 : 1451848447
Total Pages : 32 pages
Book Rating : 4.4/5 (518 download)
Download or read book Interest Rates, Credit Rationing, and Investment in Developing Countries written by Ms.Mwanza Nkusu and published by International Monetary Fund. This book was released on 2003-03-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the impact of interest rates and inflation on bank loans and investment within a framework that mimics the financial sectors prevailing in most low-income developing countries. The paper emphasizes the importance of treating the lending and deposit rates of interest as distinct parameters in investment equations. The spread between the two rates is indicative of default risk and has a negative impact on incremental loan amounts associated with higher lending rates, in particular in economies with flawed institutions. The model presented in the paper highlights the importance of promoting macroeconomic stability and upgrading institutions and informational infrastructure.
Author : Arvind Virmani
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.3/5 ( download)
Download or read book Loan market imperfections and optimal policy intervention written by Arvind Virmani and published by . This book was released on 1984 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Michael J. Driscoll
Publisher : OECD
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.F/5 ( download)
Download or read book Deregulation, Credit Rationing, Financial Fragility and Economic Performance written by Michael J. Driscoll and published by OECD. This book was released on 1991 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Dona Rai
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)
Download or read book Credit Rationing, Government Credit Programs and Co-Financing written by Dona Rai and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Costly monitoring may lead to credit rationing in equilibrium in an economy without any adverse selection or moral hazard problems. Given the widespread phenomenon of government intervention in credit markets in developing and developed countries, the natural question then is, How effective are these government programs? I incorporate government loan programs in a simple, closed, pure exchange economy with borrowing and lending. Intermediation of funds is facilitated in credit markets characterized by a costly state verification problem. I then show that government loan programs (financed with lump-sum taxes) with co financing can increase credit rationing when the private lender is the prior claimant in the event of a default. Moreover such programs unambiguously decrease the expected utility of both borrowers and lenders. On the other hand, when the government is the prior claimant, such programs decrease credit rationing and increase the expected utility of borrowers. Finally, with proportional repayments there is no effect on credit rationing or expected utility of agents.
Author : Fabrizio Mattesini
Publisher : Dartmouth Publishing Company
ISBN 13 :
Total Pages : 208 pages
Book Rating : 4.3/5 (91 download)
Download or read book Financial Markets, Asymmetric Information, and Macroeconomic Equilibrium written by Fabrizio Mattesini and published by Dartmouth Publishing Company. This book was released on 1993 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study of the interaction between the financial sector and the sector of the economy is one of the most recent advances in macroeconomic theory. While mainstream economics assigns a passive role to the financial sector there is a growing body of literature which emphasizes the importance of financial intermediaries in explaining fluctuations and the determination of the process through which monetary policy impulses are transmitted to the rest of the economy. This literature has its origin in the models that rely on asymmetric information to explain imperfections in financial markts and in empirical evidence collected through various econometric techniques and through historical studies. This book surveys the relevant work ion the subject, evaluates the empirical evidence and the explanatory power of the theories proposed and furnishes new and empirical results.
