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A Mechanism for Thawing the Credit Markets

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  • Edi Karni

Abstract

This paper describes a mechanism designed to induce commercial banks to increase their willingness to extend loans in an economic environment characterized by increased uncertainty and diminished expectations. This mechanism is a new tool for the conduct of monetary policy to combat recessions.

Suggested Citation

  • Edi Karni, 2009. "A Mechanism for Thawing the Credit Markets," Economics Working Paper Archive 551, The Johns Hopkins University,Department of Economics.
  • Handle: RePEc:jhu:papers:551
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    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
    • D86 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Economics of Contract Law

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