This paper provides one more rationale for interlinking credit and tenancy contracts in the context of production loans. In an environment characterized by a heterogeneous labor pool and imperfect information, landlords will have an incentive to avail themselves of screening devices. By linking tenancy and credit contracts a screening device can be implemented. The equilibrium set of contracts is characterized by a variety of interest rates, some...
更多显示
详细
-
1984/01/01
-
日志文章
-
REP326
-
1
-
1
-
2010/07/12
-
Disclosed
-
Capital requirements, screening and interlinked share cropping and credit contracts
-
market rate of interest