Author: Lisa DeNell CookPublisher:
ISBN:
Category :
Languages : en
Pages : 294
Book Description
Three Essays on Internal and External Credit Markets in Post-Soviet and Tsarist Russia
Author: Lisa DeNell CookOwnership and Asymmetric Information Problems in the Corporate Loan Market
Author: Lewis GaulPublisher: CreateSpace
ISBN: 9781505310306
Category :
Languages : en
Pages : 32
Book Description
In credit markets, asymmetric information problems arise when borrowers have private information about their creditworthiness that is not observable by lenders. If these informational asymmetries do not negatively affect lenders' profitability, then they are irrelevant to lenders.
Three Essays in Monetary Theory
Author: Ludwig Van den HauwePublisher: BoD – Books on Demand
ISBN: 2810602212
Category : Monetary policy
Languages : en
Pages : 188
Book Description
Recent events in international financial markets have revived the scientific interest in conceivable institutional alternatives to prevailing monetary arrangements. In the essays reprinted in this book, the author critically examines some of the more influential arguments which have been made in favour of decentralization in banking.
Three Essays on Reputation in Rural Credit Markets
Author: Reka Sundaram-StukelPublisher:
ISBN:
Category :
Languages : en
Pages : 180
Book Description
Three Essays in International Economics
Author: Gaofeng HanPublisher:
ISBN:
Category : International economic relations
Languages : en
Pages : 380
Book Description
Essays on Consumer Credit Markets
Author: Mark William JenkinsPublisher: Stanford University
ISBN:
Category :
Languages : en
Pages : 135
Book Description
This dissertation studies the organization of consumer credit markets using a rich and novel dataset from a large subprime auto lender. Its primary goal is to develop empirical methods for analyzing markets with asymmetric information and to use these methods to better understand the behavior of subprime borrowers and lenders. The first chapter quantifies the importance of adverse selection and moral hazard in the subprime auto loan market and shows how different loan contract terms serve to mitigate these distinct information problems. The second chapter examines the impact of centralized credit scoring on lending outcomes, including the distribution of performance across dealerships within the firm. The third chapter studies borrower repayment behavior and quantifies the impact of ex post moral hazard on interest rates and the costs of default. Collectively, the three chapters provide a better understanding of the functioning of markets for subprime credit in the U.S. They also provide unique empirical evidence on the importance of asymmetric information and the value of screening, monitoring, and contract design in consumer credit markets in general.
Journal of Economic Literature
Author: Three Essays on Portfolio Capital Flows to Emerging Markets
Author: Hui MiaoPublisher:
ISBN:
Category : Capital market
Languages : en
Pages : 180
Book Description
Asymmetric Information and the Market Structure of the Banking Industry
Author: Mr.Giovanni Dell'AricciaPublisher: International Monetary Fund
ISBN: 145195154X
Category : Business & Economics
Languages : en
Pages : 32
Book Description
The paper analyzes the effects of informational asymmetries on the market structure of the banking industry in a multi-period model of spatial competition. All lenders face uncertainty with regard to borrowers’ creditworthiness, but, in the process of lending, incumbent banks gather proprietary information about their clients, acquiring an advantage over potential entrants. These informational asymmetries are an important determinant of the industry structure and may represent a barrier to entry for new banks. The paper shows that, in contrast with traditional models of horizontal differentiation, the steady-state equilibrium is characterized by a finite number of banks even in the absence of fixed costs.
Selected Works of Joseph E. Stiglitz
Author: Joseph E. StiglitzPublisher: Oxford University Press
ISBN: 019257079X
Category : Business & Economics
Languages : en
Pages : 1047
Book Description
This is the third volume in a new, definitive, six-volume edition of the works of Joseph Stiglitz, one of today's most distinguished and controversial economists. Stiglitz was awarded the Nobel Prize in Economics in 2001 for his work on asymmetric information and is widely acknowledged as one of the pioneers in the field of modern information economics and more generally for his contributions to microeconomics. Volume III contains a selection of Joseph E. Stiglitz's work on microeconomics. It questions well-established tenets, including many that are so fundamental they are almost taken for granted, covering basic concepts of risk and markets; the management of risk; the theory of the firm; the economics of organization; and theory of human behaviour. Stiglitz reflects on his work and the field more generally throughout the volume by including substantial original introductions to the Selected Works, the volume as a whole, and each part within the volume.