Memory in contracts : the experience of the EBRD (1991-2003)
Artige, Lionel (Université de Liège. Department of Economics)
Nicolini, Rosella (Universitat Autònoma de Barcelona. Departament d'Economia Aplicada)
Universitat Autònoma de Barcelona. Departament d'Economia Aplicada

Date: 2010
Description: 57 p.
Abstract: The objective of this paper is to identify the role of memory as a screening device in repeated contracts with asymmetric information in financial intermediation. We use an original dataset from the European Bank for Reconstruction and Development. We propose a simple empirical method to capture the role of memory using the client's reputation. Our results unambiguously isolate the dominant effect of memory on the bank's lending decisions over market factors in the case of established clients.
Rights: Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús Creative Commons
Language: Anglès
Series: Departament d'Economia Aplicada. Documents de treball
Series: Document de treball (Universitat Autònoma de Barcelona. Departament d'Economia Aplicada) ; 1002
Document: Working paper
Subject: Contractes ; European Bank for Reconstruction and Development



57 p, 500.4 KB

The record appears in these collections:
Research literature > Working papers > Department of Applied Economics. Working papers

 Record created 2010-09-07, last modified 2022-07-16



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