search query: @indexterm money / total: 443
reference: 122 / 443
| Author: | Bose, N. Cothren, R. |
| Title: | Asymmetric information and loan contracts in a neoclassical growth model |
| Journal: | Journal of Money, Credit and Banking
1997 : NOV, VOL. 29:4/1, p. 423-439 |
| Index terms: | MONEY BANKING LOANS |
| Language: | eng |
| Abstract: | The authors consider a neoclassical growth model with risky investment projects in which a borrower's (an investor's) risk type is private information. The authors' innovation is to determine jointly the equilibrium loan contract and the economy's growth path and the steady-state capital stock. The authors show that as capital accumulates, credit rationing may fall as an increasing number of lenders choose to acquire costly information to separate borrowers as to type. |
SCIMA