Advanced Search
MyIDEAS: Login

Credit Rationing and Asset Value

Contents:

Author Info

  • Antonio Affuso

    ()
    (Politecnico di Milano)

Abstract

This paper investigates the effect of real assets as collateral on the economy. I construct a model that shows how credit rationing is mitigated by the existence of bad firms whether it is linked to the value of distressed assets. The model builds on Stiglitz and Weiss (1981) and Shleifer and Vishny (1992). The price of distressed assets is endogenous and it depends on the number of bad firms in the economy as well as on the liquidity of good firms. In the model it is possible to have a separating equilibrium only if there exists a number of bad firms.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.rivistapoliticaeconomica.it/2008/mag-giu/affuso.php
Download Restriction: Payment required

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by SIPI Spa in its journal Rivista di Politica Economica.

Volume (Year): 98 (2008)
Issue (Month): 3 (May-June)
Pages: 33-54

as in new window
Handle: RePEc:rpo:ripoec:v:98:y:2008:i:3:p:33-54

Contact details of provider:

Related research

Keywords:

Other versions of this item:

Find related papers by JEL classification:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. A. Affuso, 2007. "Credit rationing and real assets: evidence from Italian panel data," Economics Department Working Papers 2007-EP09, Department of Economics, Parma University (Italy).

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:rpo:ripoec:v:98:y:2008:i:3:p:33-54. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sabrina Marino).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.