Credit and inflation under borrower's lack of commitment

DOI10.1016/J.JET.2011.03.015MaRDI QIDQ643262zbMATH OpenOpenAlexFDO

Authors Antonia Díaz, Fernando Perera-Tallo

Publication date 28 October 2011

Published in Journal of Economic Theory (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jet.2011.03.015

zbMATH Keywords

monetary policyrisk sharingself-enforcing debtFriedman ruleexistence of credit

Mathematics Subject Classification ID

Macroeconomic theory (monetary models, models of taxation) (91B64)

Recommendations

• Indeterminacy in credit economies
• CREDIT AND GROWTH UNDER LIMITED COMMITMENT
• Incomplete credit markets and monetary policy
• Inflation anchoring and growth: the role of credit constraints
• Consumption and the credit market
• Interest rates and default in unsecured loan markets
• Credit markets, limited commitment, and government debt
• The procyclicality of inflation-linked debt
• Heterogeneous borrowers, liquidity, and the search for credit

Cites work

• A Difficulty with the Optimum Quantity of Money
• Asset trading mechanisms and expansionary policy
• Bubbles and Self-Enforcing Debt
• Efficiency, Equilibrium, and Asset Pricing with Risk of Default
• Efficient allocations with hidden income and hidden storage
• Implications of Efficient Risk Sharing without Commitment
• Liquidity Constrained Markets Versus Debt Constrained Markets
• Money and dynamic credit arrangements with private information
• Money, credit and banking
• Societal benefits of illiquid bonds.

Cited in

(7)

• Money and dynamic credit arrangements with private information
• Money and credit with limited commitment and theft
• Money, credit and banking
• Optimal monetary interventions in credit markets
• Credit cards and inflation
• Debt constraints and monetary policy
• Incomplete credit markets and monetary policy

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