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Uncertainty, market power and credit rationing

Ramskogler, Paul (2007) Uncertainty, market power and credit rationing. Department of Economics Working Paper Series, 105. Inst. für Volkswirtschaftstheorie und -politik, WU Vienna University of Economics and Business, Vienna.

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Abstract

This paper explores the nexus between uncertainty and credit restrictions. A Post Keynesian approach to an explanation of access rationing to credit is developed and contrasted with the dominant relationship lending school. It is argued that access rationing to credit has be understood in terms of uncertainty and power. Differences in systemic uncertainty to which hetrogenous market participants are exposed can explain the reluctance of banks to lend to certain applicants. Monopsonistic power and uncertainty further help to understand why banks of a different size show differences in their lending behavior. (author's abstract)

Item Type: Paper
Keywords: fundamental uncertainty / credit restrictions / power / Geldangebot / Entscheidung bei Unsicherheit / Kreditgewährung / Restriktion / Klein- und Mittelbetrieb / Neokeynesianismus
Classification Codes: RVK QK 220, QK 320 ; JEL E12, E51, D81, D89
Divisions: Departments > Volkswirtschaft
Depositing User: Repository Administrator
Date Deposited: 20 Aug 2007 19:22
Last Modified: 14 Oct 2011 13:11
URI: http://epub.wu.ac.at/id/eprint/312

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