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| Author: | Meza, D. de Webb, D. C. |
| Title: | Credit rationing: something's gotta give |
| Journal: | Economica
2006 : NOV, VOL. 73:292, p. 563-578 |
| Index terms: | credit rationing |
| Language: | eng |
| Abstract: | This article explores equilibrium credit rationing. It is shown to imply that the marginal cost of funds to the borrower in infinite. That is why entrepreneurs have an overwhelming incentive to cut their loans by a dollar and so avoid rationing. This include scaling down the project, decreasing consumption or delaying the project to accumulate more savings. |
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