The Welfare Implications of Costly Monitoring in the Credit Market : A Note  

Oleh:

Bin, Xu

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 110 no. 463 (2000), page 576-580.
Topik: welfare; welfare implications; monitoring; credit market
Fulltext: 576.pdf (123.57KB)

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE28.2 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

Hillier and Worrall (1994) derived a surprising result that credit should be further rationed in the costly - monitoring credit - rationing equilibrium. This note shows that their result may be reversed if monitoring costs are endogenously determined.

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