Credit Constraints in General Equilibrium: Experimental Results
AbstractThe authors' work attempts to investigate the influence of credit tightness or expansion on activity and relative prices in a multimarket set-up. They report on some double-action, two-market experiments where subjects had to satisfy an inequality involving the use of credit. The experiments display two regimes, characterized by high and low credit availability. The authors' main results are that changes in the availability of credit: (1) have minor and unsystematic effects on quantities and relative prices in the high-credit regime; and (2) have substantial effects, both on quantities and relative prices, in the low-credit regime. Copyright 1997 by Royal Economic Society.
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Bibliographic InfoArticle provided by Royal Economic Society in its journal The Economic Journal.
Volume (Year): 107 (1997)
Issue (Month): 444 (September)
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Other versions of this item:
- Antoni Bosch-Domènech & Joaquim Silvestre, 1996. "Credit constraints in general equilibrium: Experimental results," Economics Working Papers 105, Department of Economics and Business, Universitat Pompeu Fabra.
- Bosch-Domenech, A. & Silvestre, J., 1995. "Credit Constraint in General Equilibrium: Experimental Results," Department of Economics 95-07, California Davis - Department of Economics.
- Joaquim Silvestre & Antoni Bosch-Domenech, 2004. "Credit Constraints In General Equilibrium: Experimental Results," Working Papers 957, University of California, Davis, Department of Economics.
- Bosch-Domenech, A. & Silvestre, J., 1995. "Credit Constraint in General Equilibrium: Experimental Results," Papers 95-07, California Davis - Institute of Governmental Affairs.
- C92 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Group Behavior
- D40 - Microeconomics - - Market Structure and Pricing - - - General
- D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
- D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
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