Title of article :
Unsecuredcreditmarketsarenotinsurancemarkets
Author/Authors :
Kartik Athreya، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 2008
Abstract :
Westudytheextenttowhichunsecuredcreditmarketshavealteredthetransmissionof
increased incomerisktoconsumptionvariabilityoverthepastseveraldecades.Wefind
that unsecuredcreditmarketspassthroughincreasedincomerisktoconsumption,
irrespectiveofbankruptcypolicyandtheinformationpossessedbylenders.Ifrisk
sharinghasindeedimprovedoverthisperiod,thereasonsdonotthereforelieinthe
unsecuredcreditmarket.
Keywords :
Risk sharingAsymmetric informationBankruptcyDefault
Journal title :
Journal of Monetary Economics
Journal title :
Journal of Monetary Economics
