Government Credit (Lucas)

Putting an accurate price tag on government credit support by Deborah Lucas published by VOXEU (12/2014). “…This column presents new evidence on the costs of government credit support. It argues that government tend to understate credit costs and the consequences of that could be considerable. Cost underreporting may lead to overinvestment and capital misallocation, could encourage the over-reliance on credit, reduce transparency, and cause a build-up of finacial risk.”

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