Dysfunctional Finance : Positive Shocks and Negative Outcomes
n financial markets with asymmetric information about mean returns, borrowers with different default risks may pay the same rate of interest. If they do, the marginal borrower will have a high-risk, negative-value project. Under some conditions, technological change that increases each entrepreneur&...
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| Language: | EN |
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2012
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| Online Access: | http://hdl.handle.net/10986/5848 |