Comment on 'Do Informational Frictions Justify Federal Credit Programs? (Federal Credit Allocation: Theory, Evidence, and History): An article from: Journal of Money, Credit & Banking

This digital document is an article from Journal of Money, Credit & Banking, published by Ohio State University Press on August 1, 1994. The length of the article is 3189 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Williamson's paper is based on many assumptions that are not applicable for evaluating government credit programs. these assumptions include: ergodicity, the absence of liquidity and collateral, each lender can make only a single-unit real investment loan per period. If these restrictive unrealistic assumptions are dropped, then Williamson's policy implications are unproven. If nonergodic circumstances, multiloan lenders, the importance of collateral and liquidity are introduced into the system, government credit programs can be easily justified. (Printed by permission of the publisher)

Citation Details
Title: Comment on 'Do Informational Frictions Justify Federal Credit Programs? (Federal Credit Allocation: Theory, Evidence, and History)
Author: Paul Davidson
Publication:Journal of Money, Credit & Banking (Refereed)
Date: August 1, 1994
Publisher: Ohio State University Press
Volume: v26 Issue: n3 Page: p545(7)

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