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Financial Collusion and Over-Lending
(Vanderbilt University, 2002)
We build a model consisting of a borrowing firm, a lending institution (bank), and a third party influencing loan decision-making (auditor/government regulator) where a low-type firm can bribe the auditor to file an ...
Finance Thy Growth: The Role of Occupational Choice by Ability-Heterogeneous Agents
(Vanderbilt University, 2002)
This paper develops an overlapping-generations model of finance and growth with intrinsic heterogeneity in loanable fund conversion ability, where agents make occupational choice between becoming entrepreneurs and becoming ...