We develop a new theory of information production during credit booms. In our model, entrepreneurs need credit to … themselves from such diversion in two ways: collateralization and costly screening, which generates durable information about … accumulates physical capital but depletes information about investment projects. As a result, collateral-driven booms end in deep …

information (data collection and processing) and communication (relationships and distribution). Both follow historic trends … towards an increased use of hard information and less inperson interaction, which are accelerating rapidly. We point to more …

information (data collection and processing) and communication (relationships and distribution). Both follow historic trends … towards an increased use of hard information and less in-person interaction, which are accelerating rapidly. We point to more …