CREDIT MARKET FAILURES AND POLICY

Salvatore Modica, Enrico Minelli

Risultato della ricerca: Articlepeer review

15 Citazioni (Scopus)

Abstract

In a simplified version of the Stiglitz–Weiss (1981)model of the credit market we characterize optimal policies to cor-rect market failures. Widely applied policies, notably interest–ratesubsidies and investment subsidies, are compared to the theoreticaloptimum. Some comments on the trade-off between credit subsidyand infrastructural investment are added in the conclusions.
Lingua originaleEnglish
Numero di pagine20
RivistaJournal of Public Economic Theory
Volume2009-06
Stato di pubblicazionePublished - 2009

All Science Journal Classification (ASJC) codes

  • Finance
  • Sociology and Political Science
  • Economics and Econometrics

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