haku: @author Repullo, R. / yhteensä: 9
viite: 4 / 9
| Tekijä: | Repullo, R. Suarez, J. |
| Otsikko: | Entrepreneurial moral hazard and bank monitoring: a model of the credit channel |
| Lehti: | European Economic Review
2000 : DEC, VOL. 44:10, p. 1931-1950 |
| Asiasana: | ENTREPRENEURSHIP MORAL HAZARD CREDIT |
| Kieli: | eng |
| Tiivistelmä: | 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 standards of the credit view of the transmission of monetary policy. In particular, the authors 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. |
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