Equilibrium Credit Rationing: 1st Edition (Paperback) book cover

Equilibrium Credit Rationing

1st Edition

By William R. Keeton


305 pages

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pub: 2018-11-06
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This study, first published in 1979, examines and contrasts two concepts of credit rationing. The first concept takes the relevant price of credit to be the explicit interest rate on the loan and defines the demand for credit as the amount an individual borrower would like to receive at that rate. Under the alternative definition, the price of credit consists of the complete set of loan terms confronting a class of borrowers with given characteristics, while the demand for credit equals the total number of loan which members of the class would like to receive at those terms. This title will be of interest to students of monetary economics.

Table of Contents

Abstract; Acknowledgements; List of Symbols; 1. Competitive Markets for Nonhomogenous Goods: An Application to the Theory of Credit Rationing 2. An Analysis of Loan Rate Ceilings 3. Moral Hazard and Equilibrium Credit Rationing; Biography

About the Series

Routledge Library Editions: Monetary Economics

The volumes in this set, originally published between 1934 and 1994, draw together research by leading academics in the area of monetary economics and provides a rigorous examination of related key issues. The volumes examine monetary management and policy, equilibrium theory and credit rationing, as well as the general principles and practices of monetary economics. This set will be of particular interest to students of economics and finance.

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Subject Categories

BISAC Subject Codes/Headings:
BUSINESS & ECONOMICS / Money & Monetary Policy
BUSINESS & ECONOMICS / Economics / General
BUSINESS & ECONOMICS / Economics / Theory