Joint liability borrowing and suicide: The case of Japan
This paper develops a model for joint liability borrowings that facilitates credit market transactions ex ante, but may induce the borrower's suicide ex post through the stigma associated with default. A Japanese suicide survey provides some supportive evidence.
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- Ghatak, Maitreesh, 2000. "Screening by the Company You Keep: Joint Liability Lending and the Peer Selection Effect," Economic Journal, Royal Economic Society, vol. 110(465), pages 601-31, July.
- Beatriz Armendáriz & Jonathan Morduch, 2010.
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