This paper tests Bester's (1985, 1987) prediction about the separating role ofcontracts that involve both interest rates and collateral in credit markets. To test thisprediction we use data from natural credit markets and controlled experiments. Using asample of credits to small and medium size...

Se ha sugerido que la rapida expansion de la intermediacion bancaria en los anos que precidieron a la crisis financiera mexicana de 1994 reflejo, en parte, un comportamiento oportunista de los bancos. Este ensayo es un analisis microeconomico del sector bancario que utiliza un marco sencillo de...