Credit Market Failures and Policy

Enrico Minelli and Salvatore Modica ()

Journal of Public Economic Theory, 2009, vol. 11, issue 3, 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.

Date: 2009
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https://doi.org/10.1111/j.1467-9779.2009.01414.x

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Working Paper: Credit market failures and policy (2003)
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