; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Limited Information, Credit Rationing, and Optimal Government Lending Policy"; ; "batchuser@example.com"; "Smith, Bruce D. (Bruce David), 1954-2002"; "Federal Reserve Bank of Minneapolis"; "Government loans", "Credit limit", "Federal lending", "Assymetric information", "Jaffee-Russel model"; "E51 - Money Supply; Credit; Money Multipliers", "H81 - Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts", "D82 - Asymmetric and Private Information; Mechanism Design"; "A model of credit rationing based on asymmetrically informed borrowers and lenders is developed. In this context, sufficient conditions are derived for an appropriate government policy response to credit rationing to be a continuously open discount window. It is also demonstrated that such a policy can be deflationary, and that given a commitment to operate in this way, the monopoly issue of liabilities can Pareto dominate their competitive issuance."^^; "1982-10"; "2018-03-13T20:09:37.22810249+00:00"^^; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "2019-07-11T20:03:50.969812243+00:00"^^; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "735"; "Working paper (Federal Reserve Bank of Minneapolis. Research Department)"; "202"; "Credit limit", "Government loans", "Federal lending", "Assymetric information", "Jaffee-Russel model"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; ; "Publication" . ; .