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On the Possibility of Credit Rationing in the Stiglitz-Weiss Model

URN to cite this document: urn:nbn:de:bvb:355-opus-4760

Arnold, Lutz G. and Riley, John G. (2009) On the Possibility of Credit Rationing in the Stiglitz-Weiss Model. American Economic Review (AER) 99, pp. 2012-2021.

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Abstract

Contrary to what is consistently assumed in the literature, the return function cannot be hump-shaped in the Stiglitz-Weiss (1981) model. This has important consequences for the possible occurrence of credit rationing and redlining. With a single class of borrowers, banks offer credit in two stages. Demand possibly exceeds supply in stage one, but not in stage two. With several ...

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Item Type:Article
Date:2009
Institutions:Business, Economics and Information Systems > Institut für Volkswirtschaftslehre und Ökonometrie > Lehrstuhl für Theoretische Volkswirtschaft (Prof. Dr. Lutz Arnold)
Research groups and research centres:Immobilien- und Kapitalmärkte
Identification Number:
ValueType
10.1257/aer.99.5.2012DOI
Classification:
NotationType
G21Journal of Economics Literature Classification
E51Journal of Economics Literature Classification
D82Journal of Economics Literature Classification
Keywords:Kreditrestriktion , Asymmetrische Information, , credit rationing , asymmetric information
Subjects:300 Social sciences > 330 Economics
Status:Published
Refereed:Yes, this version has been refereed
Created at the University of Regensburg:Yes
Owner: Universitätsbibliothek Regensburg
Deposited On:28 Jun 2010 08:50
Last Modified:13 Mar 2014 13:42
Item ID:15577

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