Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
Macro Economic Equilibrium And Credit Rationing
Download Macro Economic Equilibrium And Credit Rationing full books in PDF, epub, and Kindle. Read online Macro Economic Equilibrium And Credit Rationing ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis Macro-economic Equilibrium and Credit Rationing by : Joseph E. Stiglitz
Download or read book Macro-economic Equilibrium and Credit Rationing written by Joseph E. Stiglitz and published by . This book was released on 1987 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we investigate the macro-economic equilibria of an economy in which credit contracts have both adverse selection and incentive effects. The terms of credit contracts include both an interest rate and a collateral requirement. We show that in this richer model all types of borrowers may be rationed. Interest rates charged borrowers may move either pro or counter-cyclically. If pro-cyclical shocks have a greater effect on the success probabilities of risky techniques than on safe ones, then the interest rate offered depositors may also move counter-cyclically. Finally, we show that the impact of monetary policy on the macro-economic equilibrium is affected by whether or not the economy is in a regime in which credit is rationed
Book Synopsis Macro-economic Equilibrium and Credit Rationing by : Joseph E. Stiglitz
Download or read book Macro-economic Equilibrium and Credit Rationing written by Joseph E. Stiglitz and published by . This book was released on 1987 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Analysis of Credit and Equilibrium Credit Rationing by : Ying Wu
Download or read book An Analysis of Credit and Equilibrium Credit Rationing written by Ying Wu and published by Routledge. This book was released on 2017-05-18 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study, first published in 1994, is intended to deepen the readers understanding of the phenomenon of equilibrium credit rationing in two areas. The first area concerns the form that equilibrium credit rationing assumes and its importance in determining the behaviour of interest rates. The second concerns the role of equilibrium credit rationing in transmitting monetary shocks to the real sector. This title will be of interest to students of monetary economics.
Book Synopsis Financial Markets, Asymmetric Information, and Macroeconomic Equilibrium by : Fabrizio Mattesini
Download or read book Financial Markets, Asymmetric Information, and Macroeconomic Equilibrium written by Fabrizio Mattesini and published by Dartmouth Publishing Company. This book was released on 1993 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study of the interaction between the financial sector and the sector of the economy is one of the most recent advances in macroeconomic theory. While mainstream economics assigns a passive role to the financial sector there is a growing body of literature which emphasizes the importance of financial intermediaries in explaining fluctuations and the determination of the process through which monetary policy impulses are transmitted to the rest of the economy. This literature has its origin in the models that rely on asymmetric information to explain imperfections in financial markts and in empirical evidence collected through various econometric techniques and through historical studies. This book surveys the relevant work ion the subject, evaluates the empirical evidence and the explanatory power of the theories proposed and furnishes new and empirical results.
Book Synopsis Macroeconomics Under Debate by : Alan S. Blinder
Download or read book Macroeconomics Under Debate written by Alan S. Blinder and published by University of Michigan Press. This book was released on 1989 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: A thematic selection of Blinder's key essays on macroeconomics
Book Synopsis Asymmetric Information, Corporate Finance, and Investment by : R. Glenn Hubbard
Download or read book Asymmetric Information, Corporate Finance, and Investment written by R. Glenn Hubbard and published by University of Chicago Press. This book was released on 2009-05-15 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this volume, specialists from traditionally separate areas in economics and finance investigate issues at the conjunction of their fields. They argue that financial decisions of the firm can affect real economic activity—and this is true for enough firms and consumers to have significant aggregate economic effects. They demonstrate that important differences—asymmetries—in access to information between "borrowers" and "lenders" ("insiders" and "outsiders") in financial transactions affect investment decisions of firms and the organization of financial markets. The original research emphasizes the role of information problems in explaining empirically important links between internal finance and investment, as well as their role in accounting for observed variations in mechanisms for corporate control.
Book Synopsis Equilibrium Credit Rationing by : William R. Keeton
Download or read book Equilibrium Credit Rationing written by William R. Keeton and published by Dissertations-G. This book was released on 1979 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Rationing in a Theory of the Banking Firm by : Timothy M. Devinney
Download or read book Rationing in a Theory of the Banking Firm written by Timothy M. Devinney and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: The existence of non-price rationing in credit markets is a subj ect, not only of paramount importance, but of considerable controversy, which is ultimately linked with our understanding, or lack thereof, of the basic nature of the banking firm. A recognition of this phenomenon is critical to the understanding of the banking firm in its major role as a financial intermediary. The banking firm serves as an intermediary in two important spheres, between borrower and lender, and between spenders and the monetary authorities. The basic economic formulation of borrower-lender behavior, the simple Fisherian consumption loan model, while beautiful in its simplicity, fail s to acknowledge any role for a non-neutral financial intermediary. The bank, in its second intermediary role, leads one to question the assumption of both neoclassical and Keynsian monetary theories that monetary changes are diffused across the economy (the proverbial monetary helicopter). Monetary policy effects on spending and investment will clearly be biased by the policies of the banks. The major focus of the present work is the development of a theory of credit rationing based upon the existence of risk reducing information technologies. Implicit in the analysis is a discussion of the role of the banking firm as something more than a tr·aditional financial intermediary. The present analysis will focus on the bank as an intermediary between borrower and lender. It will be shown that in .
Book Synopsis Interest Rates, Credit Rationing, and Investment in Developing Countries by : Ms.Mwanza Nkusu
Download or read book Interest Rates, Credit Rationing, and Investment in Developing Countries written by Ms.Mwanza Nkusu and published by International Monetary Fund. This book was released on 2003-03-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the impact of interest rates and inflation on bank loans and investment within a framework that mimics the financial sectors prevailing in most low-income developing countries. The paper emphasizes the importance of treating the lending and deposit rates of interest as distinct parameters in investment equations. The spread between the two rates is indicative of default risk and has a negative impact on incremental loan amounts associated with higher lending rates, in particular in economies with flawed institutions. The model presented in the paper highlights the importance of promoting macroeconomic stability and upgrading institutions and informational infrastructure.
Book Synopsis Macroeconomic Models with Equity and Credit Rationing by :
Download or read book Macroeconomic Models with Equity and Credit Rationing written by and published by . This book was released on 1992 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a simple, general equilibrium macroeconomic model incorporating financial constraints, both credit and equity rationing, as well as other informational imperfections in labor and product markets, such as efficiency wage effects. A formulation somewhat analogous to the standard IS-LM model, but not suffering from the well known defects of that model, is derived. The mechanisms by which monetary policy affects the economy are described. Dynamics, including implications for long run growth, are investigated.
Book Synopsis Credit, Investments and the Macroeconomy by : Marco Mazzoli
Download or read book Credit, Investments and the Macroeconomy written by Marco Mazzoli and published by Cambridge University Press. This book was released on 1998-01-22 with total page 231 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book relates the literatures of finance, industrial economics and investment to the theoretical framework of the 'credit view'. Firstly it is assumed that banks' decisions concerning their assets are seen as at least as relevant as their decisions concerning their liabilities. Secondly, securities and bank credit are considered to be highly imperfect substitutes. In this regard it is important to investigate the way industrial and financial sectors interact. In particular, how is the macroeconomy affected by the phenomenon of 'securitization' and by exogenous changes in the industrial structure of the credit market. The interactions between real and financial sectors are also analysed from the point of view of the industrial firm, in a model where the investment and financial decisions of the firm are taken simultaneously.
Book Synopsis An Analysis of the Underground Economy and its Macroeconomic Consequences by : Ms.Era Dabla-Norris
Download or read book An Analysis of the Underground Economy and its Macroeconomic Consequences written by Ms.Era Dabla-Norris and published by International Monetary Fund. This book was released on 2003-01-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops a dynamic computable general equilibrium model in which optimizing agents evade taxes by operating in the underground economy. The cost to firms of evading taxes is that they find themselves subject to credit rationing from banks. Our model simulations show that in the absence of budgetary flexibility to adjust expenditures, raising tax rates too high drives firms into the underground economy, thereby reducing the tax base. Aggregate investment in the economy is lowered because of credit rationing. Taxes that are too low eliminate the underground economy, but result in unsustainable budget and trade deficits. Thus, the optimal rate of taxation, from a macroeconomic point of view, may lead to some underground activity.
Book Synopsis Financial Constraints and Market Failures by : Marcello Messori
Download or read book Financial Constraints and Market Failures written by Marcello Messori and published by Edward Elgar Publishing. This book was released on 1999-01-01 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: An Italian study group made up of seven economists report their findings on how the new Keynesian economics has reacted to challenges from new classical economics by strengthening the analytical power of its models. First they discuss the theoretical unde
Book Synopsis Macroeconomic Policy Analysis by : Michael P. Amos
Download or read book Macroeconomic Policy Analysis written by Michael P. Amos and published by Cambridge University Press. This book was released on 1989-01-27 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book introduces the concept of public sector rationing in asset markets and provides a modern non-Walrasian approach to macroeconomic policy analysis. The detailed treatment of credit rationing regimes makes this work particularly relevant to economies where the interest rate is regulated. Other topics covered include the disaggregation of the government into the treasury and the central bank, the specification behavior of households, firms, and the central bank as intertemporal optimizers. The book provides models that can be easily extended to take into account both institutional and economic structures of all economies and the particular needs of the policy analysts before empirical implementation.
Book Synopsis Macroeconomic Models with Equity and Credit Rationing by : Bruce C. N. Greenwald
Download or read book Macroeconomic Models with Equity and Credit Rationing written by Bruce C. N. Greenwald and published by . This book was released on 2010 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a simple, general equilibrium macroeconomic model incorporating financial constraints, both credit and equity rationing, as well as other informational imperfections in labor and product markets, such as efficiency wage effects. A formulation somewhat analogous to the standard IS-LM model, but not suffering from the well known defects of that model, is derived. The mechanisms by which monetary policy affects the economy are described. Dynamics, including implications for long run growth, are investigated.
Book Synopsis Monetary Policy and Endogenous Credit Rationing by : John Wakeman-Linn
Download or read book Monetary Policy and Endogenous Credit Rationing written by John Wakeman-Linn and published by . This book was released on 1986 with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Private Investment and Macroeconomic Adjustment by : Luis Serven
Download or read book Private Investment and Macroeconomic Adjustment written by Luis Serven and published by World Bank Publications. This book was released on 1989 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt:
