Beiträge zur Jahrestagung des Vereins für Socialpolitik 2017: Alternative Geld- und Finanzarchitekturen - Session: Banking III D15-V3
We analyze the perceived bank lending policy using the Austrian Business Survey for 2011 to 2014, which depend on their individual credit market experience. Negative experience has strongly negative, persistent and surprisingly similar effects on lending policy perceptions. Moreover, firms are more likely to revise their perceptions during the period in which they need a loan. This is in line with theories on sticky information rational inattention, and pessimism bias.