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Dynamics of Access to Credit and Perceptions of Lending Policy: Evidence from a Firm Survey

Jarko Fidrmuc (), Christa Hainz and Werner Hölzl ()

Annual Conference 2017 (Vienna): Alternative Structures for Money and Banking from Verein für Socialpolitik / German Economic Association

Abstract: We analyze the perceived bank lending policy using the Austrian Business Survey for 2011 to 2014, which depend on their individual credit market experience. Negative experience has strongly negative, persistent and surprisingly similar effects on lending policy perceptions. Moreover, firms are more likely to revise their perceptions during the period in which they need a loan. This is in line with theories on sticky information rational inattention, and pessimism bias.

JEL-codes: G21 E51 D03 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cfn and nep-mac
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:vfsc17:168254

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