Albertazzi, Ugo; Eramo, Ginette; Gambacorta, Leonardo; … - Banca d'Italia - 2011
A growing number of studies on the US subprime market indicate that, due to asymmetric information, credit risk … asymmetric information from the empirical contract theory literature (Chiappori and Salani�, 2000). Overall, our evidence … suggests that banks can effectively counter the negative effects of asymmetric information in the securitization market by …