haku: @author Bose, N. / yhteensä: 2
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| Tekijä: | Bose, N. |
| Otsikko: | Inflation, the credit market, and economic growth |
| Lehti: | Oxford Economic Papers
2002 : JUL, VOL. 54:3, p. 412-434 |
| Asiasana: | Credit markets Economic growth Inflation |
| Kieli: | eng |
| Tiivistelmä: | The paper presents a model which predicts a negative, non-linear relationship relationship between the rate of inflation and rate of output growth, as observed in many empirical studies. The model describes an economy in which credit market imperfections arise due to asymmetric information between lenders and borrowers. Within this environment, two types of lending regime are possible - a rationing regime, where high and low risk borrowers are separated by means of credit rationing, and a screening regime, where separation takes place through costly information aqcuisition. |
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