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Federal Reserve Bank of Cleveland
Economic Review
Examining the microfoundations of market incentives for asset-backed lending
Charles T. Carlstrom
Katherine A. Samolyk
Abstract

A review of four papers that model market-based (as opposed to regulatory-based) forces driving the asset-backed lending market, revealing that under certain conditions, the information costs that make financial markets important as conduits of credit can also create nonregulatory incentives for asset-backed lending as an efficient funding mode.


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Charles T. Carlstrom & Katherine A. Samolyk, "Examining the microfoundations of market incentives for asset-backed lending" , Federal Reserve Bank of Cleveland, Economic Review, issue Q I, pages 27-38, 1993.
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