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Book/Printed Material Usury ceilings, relationships, and bank lending behavior evidence from nineteenth century

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Title

  • Usury ceilings, relationships, and bank lending behavior evidence from nineteenth century

Summary

  • "Few pieces of economic regulation are ubiquitous as usury limits. Similarly, few economic principles are as widely accepted as the belief that interference with freely contracted prices leads to market distortions, and many studies of financial markets find that usury limits negatively affect credit availability. This study shows that when no regulatory authority monitors and stands ready to punish violators of the usury limit when intermediaries and borrowers form long-term relationships, banks and borrowers regularly contract for interest rates in excess of the usury ceiling. Time series analysis reveals limited effects on credit availability when market rates exceed the usury ceiling. Cross-sectional analysis of individual loan contracts also shows that the positive effect of a long-term relationship offsets the negative effect of the usury limit on credit availability"--National Bureau of Economic Research web site.

Names

  • Bodenhorn, Howard
  • National Bureau of Economic Research

Created / Published

  • Cambridge, MA : National Bureau of Economic Research, c2005.

Headings

  • -  Bank loans--New York (State)--History--19th century
  • -  Credit--New York (State)--History--19th century
  • -  Usury laws--New York (State)--History--19th century
  • -  Usury--New York (State)--History--19th century

Notes

  • -  Title from PDF file as viewed on 12/1/2005.
  • -  Includes bibliographical references.
  • -  Also available in print.
  • -  Mode of access: World Wide Web.
  • -  System requirements: Adobe Acrobat Reader.

Call Number/Physical Location

  • HB1

Digital Id

Library of Congress Control Number

  • 2005399829

Access Advisory

  • Unrestricted online access

Online Format

  • image
  • pdf

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Cite This Item

Citations are generated automatically from bibliographic data as a convenience, and may not be complete or accurate.

Chicago citation style:

Bodenhorn, Howard, and National Bureau Of Economic Research. Usury Ceilings, Relationships, and Bank Lending Behavior Evidence from Nineteenth Century. Cambridge, MA: National Bureau of Economic Research, 2005. Pdf. https://aj.sunback.homes/item/2005399829/.

APA citation style:

Bodenhorn, H. & National Bureau Of Economic Research. (2005) Usury Ceilings, Relationships, and Bank Lending Behavior Evidence from Nineteenth Century. Cambridge, MA: National Bureau of Economic Research. [Pdf] Retrieved from the Library of Congress, https://aj.sunback.homes/item/2005399829/.

MLA citation style:

Bodenhorn, Howard, and National Bureau Of Economic Research. Usury Ceilings, Relationships, and Bank Lending Behavior Evidence from Nineteenth Century. Cambridge, MA: National Bureau of Economic Research, 2005. Pdf. Retrieved from the Library of Congress, <aj.sunback.homes/item/2005399829/>.