G2TT
来源类型Discussion paper
规范类型论文
来源IDDP3568
DP3568 Structural Uncertainty and Central Bank Conservatism: The Ignorant Should Keep Their Eyes Shut
Michael Spagat; Joao Mauricio Rosal
发表日期2002-10-20
出版年2002
语种英语
摘要It is typically less profitable for an opportunistic borrower to divert inputs than to divert cash. Suppliers, therefore, may lend more liberally than banks. This simple argument is at the core of our contract theoretic model of trade credit in competitive markets. The model implies that trade credit and bank credit can be either complements or substitutes depending on, amongst other things, the borrower?s wealth. The model also explains why firms both take and give costly trade credit even when the borrowing rate exceeds the lending rate. Finally, the model suggests reasons for why trade credit is more prevalent in less developed credit markets and for why accounts payable of large unrated firms are more countercyclical than those of small firms.
主题Financial Economics
关键词Credit rationing Trade credit Input monitoring
URLhttps://cepr.org/publications/dp3568
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/532576
推荐引用方式
GB/T 7714
Michael Spagat,Joao Mauricio Rosal. DP3568 Structural Uncertainty and Central Bank Conservatism: The Ignorant Should Keep Their Eyes Shut. 2002.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Michael Spagat]的文章
[Joao Mauricio Rosal]的文章
百度学术
百度学术中相似的文章
[Michael Spagat]的文章
[Joao Mauricio Rosal]的文章
必应学术
必应学术中相似的文章
[Michael Spagat]的文章
[Joao Mauricio Rosal]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。