教師資料查詢 | 類別: 會議論文 | 教師: 林志鴻 Jyh-horng Lin (瀏覽個人網頁)

標題:Financial contracts and regime switching in business cycles
學年87
學期2
發表日期1999/06/05
作品名稱Financial contracts and regime switching in business cycles
作品名稱(其他語言)
著者林志鴻
作品所屬單位淡江大學國際貿易學系暨國際企業研究所
出版者臺北縣淡水鎮淡江大學
會議名稱國際經濟企業與經貿法規學術研討會
會議地點臺北縣, 臺灣
摘要A theoretical model of financial intermediary- productive borrower bilateral monopoly with regime switching in business cycles is developed. This paper implies that the market power shifting either from an intermediary to a productive firm (Borrower) or from a productive firm to an intermediary has a direct effect on the composition of the optimal financial contract. This paper suggests that: (1 ) a loan-rate-taking financial intermediary dominated by a productive borrower is reluctant to grant new services during cyclical expansions and (2) a loan-rate-setting financial intermediary is willing to grant new services during cyclical contractions. Innovations in the financial intermediary's service are discouraged by monopsony power in the intermediary-borrower bilateral structure during cyclical expansions.
關鍵字景氣循環;財務契約;制度變遷;獨佔解;金融中介;Business Cycle;Financial Contract;Regime Switching;Monopoly Solution;Financial Intermediary
語言英文
收錄於
會議性質國內
校內研討會地點淡水校園
研討會時間19990605~19990605
通訊作者
國別
公開徵稿
出版型式
出處國際經濟企業與經貿法規學術研討會論文集, pp.235-251
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