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Top Publications

Credit Rationing in Markets with Imperfect Information
American Economic Review198112,860 citationsFirst authorCorresponding
Equilibrium in Competitive Insurance Markets: An Essay on the Economics of Imperfect Information
The Quarterly Journal of Economics19764,993 citations
Liberalization, Moral Hazard in Banking, and Prudential Regulation: Are Capital Requirements Enough?
American Economic Review20002,105 citations
Incentives and Risk Sharing in Sharecropping
The Review of Economic Studies19741,428 citationsFirst authorCorresponding
Capital Market Liberalization, Economic Growth, and Instability
World Development20001,397 citationsFirst authorCorresponding
Industrial Structure and the Nature of Innovative Activity
The Economic Journal19801,268 citations
Growth with Exhaustible Natural Resources: Efficient and Optimal Growth Paths
The Review of Economic Studies19741,093 citationsFirst authorCorresponding
Bargains and Ripoffs: A Model of Monopolistically Competitive Price Dispersion
The Review of Economic Studies19771,044 citations