Title of article
Unsecuredcreditmarketsarenotinsurancemarkets
Author/Authors
Kartik Athreya، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2008
Pages
21
From page
83
To page
103
Abstract
Westudytheextenttowhichunsecuredcreditmarketshavealteredthetransmissionof
increased incomerisktoconsumptionvariabilityoverthepastseveraldecades.Wefind
that unsecuredcreditmarketspassthroughincreasedincomerisktoconsumption,
irrespectiveofbankruptcypolicyandtheinformationpossessedbylenders.Ifrisk
sharinghasindeedimprovedoverthisperiod,thereasonsdonotthereforelieinthe
unsecuredcreditmarket.
Keywords
Risk sharingAsymmetric informationBankruptcyDefault
Journal title
Journal of Monetary Economics
Serial Year
2008
Journal title
Journal of Monetary Economics
Record number
846277
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