| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24778 |
| 来源ID | Working Paper 24778 |
| Trust in Lending | |
| Richard T. Thakor; Robert C. Merton | |
| 发表日期 | 2018-07-09 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | We develop a theory of trust in lending, distinguishing between trust and reputation, and use it to analyze the competitive interactions between banks and non-bank lenders (fintech firms). Trust enables lenders to have assured access to financing, whereas a loss of investor trust makes this access conditional on market conditions and lender reputation. Banks endogenously have stronger incentives to maintain trust. When borrower defaults erode trust in lenders, banks are able to survive the erosion of trust when fintech lenders do not. Trust is also asymmetric in nature—it is more difficult to gain it than to lose it. |
| 主题 | Macroeconomics ; Money and Interest Rates ; Monetary Policy ; Financial Economics ; Financial Institutions ; Public Economics |
| URL | https://www.nber.org/papers/w24778 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/582452 |
| 推荐引用方式 GB/T 7714 | Richard T. Thakor,Robert C. Merton. Trust in Lending. 2018. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w24778.pdf（657KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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