Credit Market Failures and Policy
In a simplified version of the Stiglitz and Weiss (1981) model of the credit market we characterize optimal policies to correct market failures. Widely applied policies, notably interest-rate subsidies and investment subsidies, are compared to the theoretical optimum. Copyright � 2009 Wiley Periodicals, Inc..
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Volume (Year): 11 (2009)
Issue (Month): 3 (06)
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