| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP2085 |
| DP2085 The Core-Periphery Model With Forward-Looking Expectations | |
| Richard Baldwin | |
| 发表日期 | 1999-02-28 |
| 出版年 | 1999 |
| 语种 | 英语 |
| 摘要 | This paper develops a model of the choice between bank and market finance by entrepreneurial firms that differ in the value of their net worth. The monitoring associated with bank finance ameliorates a moral hazard problem between the entrepreneurs and their lenders. The model is used to analyze the different strands of the credit view of the transmission of monetary policy. In particular, we derive the empirical implications of a broad credit channel, and compare them to those obtained when the model is extended to incorporate some elements of the bank lending channel. |
| 主题 | Financial Economics |
| 关键词 | Bank monitoring Capital requirements Credit markets Interest rate ceilings Monetary transmission mechanism |
| URL | https://cepr.org/publications/dp2085 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/531202 |
| 推荐引用方式 GB/T 7714 | Richard Baldwin. DP2085 The Core-Periphery Model With Forward-Looking Expectations. 1999. |
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