BERNANKE GERTLER AGENCY COSTS NET WORTH 2006 PDF

We'd like to understand how you use our websites in order to improve them. Register your interest. In existing literature, commercial banks are often considered mere financial intermediaries that facilitate the flow of credit in an imperfect credit market. However, as demonstrated in the history of financial instability, the behavior of financial institutions plays an important role. In our analysis, the economy is composed of multiple borrowers firms and one lender bank.

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We'd like to understand how you use our websites in order to improve them. Register your interest. In existing literature, commercial banks are often considered mere financial intermediaries that facilitate the flow of credit in an imperfect credit market. However, as demonstrated in the history of financial instability, the behavior of financial institutions plays an important role.

In our analysis, the economy is composed of multiple borrowers firms and one lender bank. Each borrower is directly connected to the lender through its credit contract. At the same time, each borrower is indirectly connected to all the other borrowers within the credit network. Using this model, we execute computer simulations to examine the economic consequences of lending attitudes.

Consequently, the same level of exogenous shock generates completely different outcomes depending on the different lending attitudes. The results also show that there exists an optimal lending attitude that leads to high economic growth and a stable growth path. This is a preview of subscription content, log in to check access. Rent this article via DeepDyve.

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Edward Elgar, Cheltenham. Woodford M Interest and prices: foundations of a theory of monetary policy. Wray R Money and credit in capitalist economies: the endogenous money approach. Download references. Correspondence to Daiki Asanuma. Reprints and Permissions. Asanuma, D. Lending attitude as a financial accelerator in a credit network economy. J Econ Interact Coord 8, — Download citation. Received : 31 December Accepted : 07 August Published : 24 August Issue Date : October Search SpringerLink Search.

Abstract In existing literature, commercial banks are often considered mere financial intermediaries that facilitate the flow of credit in an imperfect credit market. Immediate online access to all issues from Subscription will auto renew annually.

You can also search for this author in PubMed Google Scholar. Rights and permissions Reprints and Permissions. About this article Cite this article Asanuma, D.

JURNAL PENDERAAN FIZIKAL KANAK-KANAK PDF

Lending attitude as a financial accelerator in a credit network economy

The financial accelerator in macroeconomics is the process by which adverse shocks to the economy may be amplified by worsening financial market conditions. More broadly, adverse conditions in the real economy and in financial markets propagate the financial and macroeconomic downturn. The reason for this is asymmetric information between lenders and borrowers. Lenders are likely to have little information about the reliability of any given borrower.

JAY HALEY LAS TACTICAS DE PODER DE JESUCRISTO PDF

Financial accelerator

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