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Provide a historical situation in which periods of low inflation can be used to estimate the effect of usury laws (a price ceiling on interest rates)...

Provide a historical situation in which periods of low inflation can be used to estimate the effect of usury laws (a price ceiling on interest rates) for similar values of real interest rates without low inflation. How do mortgage lenders typically ration credit when price ceilings bind?

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Usury - loaning at intrigue or extreme intrigue - has, as indicated by known records, been polished in different parts of the... View the full answer

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