Credit Market Failures and Policy

Enrico Minelli and Salvatore Modica

Journal of Public Economic Theory, 2009, vol. 11, issue 3, pages 363-382

Abstract: In a simplified version of the Stiglitz and Weiss (1981) model of the credit market we characterize optimal policies to correct market failures. Widely applied policies, notably interest-rate subsidies and investment subsidies, are compared to the theoretical optimum. Copyright © 2009 Wiley Periodicals, Inc..

Date: 2009

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Related works:
Working Paper: Credit Market Failures and Policy (2006)
Working Paper: Credit market failures and policy (2003)
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