Proposal for complete revision of subchapter S corporation provisions

https://egrove.olemiss.edu/aicpa_guides/1367/thumbnail.jp

Business development credit corporations /

"Paper completed December 1981."Mode of access: Internet

Commercial bank business lending by size of loan /

"Paper completed January 1982."Includes bibliographical references.Mode of access: Internet

Who finances small business circa 1980? /

"Paper completed November 1981."Includes bibliographical references.Mode of access: Internet

Credit Rationing and Government Loan Programs: A Welfare Analysis

Asymmetric information about borrower default probabilities may lead to inefficient credit rationing of low-risk borrowers in otherwise competitive markets. In a simple model having these properties, we show that some types of government loan programs, such as loan guarantees issued through lenders, might improve economic efficiency. But the incentive for high-risk borrowers to misrepresent their loan quality is worsened by other government loan programs, notably those that try to target aid directly to rationed borrowers. As such, cost-effective programs may increase inefficiency. This surprising result highlights the need to conduct model-specific policy analyses, as opposed to analyses based on model-free performance indicators. Copyright American Real Estate and Urban Economics Association.