Autore
Cesaroni, Giovanni

Titolo
Il moltiplicatore del credito, razionamento e condizioni di asimmetria informativa
Periodico
Economia politica
Anno: 2000 - Volume: 17 - Fascicolo: 3 - Pagina iniziale: 445 - Pagina finale: 468

Credit endogenity, that is to say the capacity of the banking system to expand credit over the amount given by the endowment of monetary savings, has very serious effects on the equilibrium of one of the best known and most general models explaining the phenomenon of credit rationing, that of Stiglitz-Weiss (1981). We show that the credit multiplier drives the probability to obtain a credit-rationing equilibrium near to zero. Our analysis it is also an example of the fact that agency costs can be ruled out by the monetary nature of banking liabilities and the related function of payments-intermediation, two factors that are being wholly neglected within the predominant approach of contemporary banking theory.



SICI: 1120-2890(2000)17:3<445:IMDCRE>2.0.ZU;2-2
Testo completo: http://www.mulino.it/ws/rwDirectDownload.php?doi=10.1428/1991
Testo completo alternativo: http://www.mulino.it/rivisteweb/scheda_articolo.php?id_articolo=1991

Esportazione dati in Refworks (solo per utenti abilitati)

Biblioteche ACNP che possiedono il periodico