Are loans cheaper when tomorrow seems further?
نویسندگان
چکیده
This paper studies how future tense marking affects the terms of bank loans. We predict that languages grammatically mark affect speakers’ intertemporal preferences and thereby reduce perception risks associated with loan issuance. test this hypothesis on a sample 977 loans from 17 European countries. observe use language is lower spreads collateral in contracts. The results corroborate Chen (American Economic Review, 2013)’s makes more distant than present. They suggest linguistic structure
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ژورنال
عنوان ژورنال: Economic Modelling
سال: 2021
ISSN: ['0264-9993', '1873-6122']
DOI: https://doi.org/10.1016/j.econmod.2020.02.046