Microeconomic Models Of Credit Contracting
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Microeconomic Models Of Credit Contracting
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Author : Karel Janda
language : en
Publisher: LAP Lambert Academic Publishing
Release Date : 2009-09
Microeconomic Models Of Credit Contracting written by Karel Janda and has been published by LAP Lambert Academic Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-09 with categories.
This book deals with the problems of optimal financial contracting under asymmetric information. The chapters 2 and 3 are motivated by the problems faced by entrepreneurs and investors in the economics in transition. These two chapters take the debt form of the financial contract as given and analyze the problems of renegotiation and government credit support. The chapter 4 is devoted to the derivation and characterization of optimal financial contracts for financing investment projects with absolute priority violation. This chapter models the situation of ex post asymmetric information between entrepreneurs and lenders.
Microeconomics Of Banking Second Edition
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Author : Xavier Freixas
language : en
Publisher: MIT Press
Release Date : 2008-03-14
Microeconomics Of Banking Second Edition written by Xavier Freixas and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-03-14 with Business & Economics categories.
The second edition of an essential text on the microeconomic foundations of banking surveys the latest research in banking theory, with new material that covers recent developments in the field. Over the last thirty years, a new paradigm in banking theory has overturned economists' traditional vision of the banking sector. The asymmetric information model, extremely powerful in many areas of economic theory, has proven useful in banking theory both for explaining the role of banks in the economy and for pointing out structural weaknesses in the banking sector that may justify government intervention. In the past, banking courses in most doctoral programs in economics, business, or finance focused either on management or monetary issues and their macroeconomic consequences; a microeconomic theory of banking did not exist because the Arrow-Debreu general equilibrium model of complete contingent markets (the standard reference at the time) was unable to explain the role of banks in the economy. This text provides students with a guide to the microeconomic theory of banking that has emerged since then, examining the main issues and offering the necessary tools for understanding how they have been modeled. This second edition covers the recent dramatic developments in academic research on the microeconomics of banking, with a focus on four important topics: the theory of two-sided markets and its implications for the payment card industry; “non-price competition” and its effect on the competition-stability tradeoff and the entry of new banks; the transmission of monetary policy and the effect on the functioning of the credit market of capital requirements for banks; and the theoretical foundations of banking regulation, which have been clarified, although recent developments in risk modeling have not yet led to a significant parallel development of economic modeling. Praise for the first edition: "The book is a major contribution to the literature on the theory of banking and intermediation. It brings together and synthesizes a broad range of material in an accessible way. I recommend it to all serious scholars and students of the subject. The authors are to be congratulated on a superb achievement."—Franklin Allen, Nippon Life Professor of Finance and Economics, Wharton School, University of Pennsylvania "This book provides the first comprehensive treatment of the microeconomics of banking. It gives an impressive synthesis of an enormous body of research developed over the last twenty years. It is clearly written and apleasure to read. What I found particularly useful is the great effort that Xavier Freixas and Jean-Charles Rochet have taken to systematically integrate the theory of financial intermediation into classical microeconomics and finance theory. This book is likely to become essential reading for all graduate students in economics, business, and finance."—Patrick Bolton, Barbara and David Zalaznick Professor of Business, Columbia University Graduate School of Business "The authors have provided an extremely thorough and up-to-date survey of microeconomic theories of financial intermediation. This work manages to be both rigorous and pleasant to read. Such a book was long overdue and shouldbe required reading for anybody interested in the economics of banking and finance."—Mathias Dewatripont, Professor of Economics, ECARES, Universit
Default Risk In Implicit Contract Models Of The Credit Market
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Author : Nilss Olekalns
language : en
Publisher:
Release Date : 1991
Default Risk In Implicit Contract Models Of The Credit Market written by Nilss Olekalns and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Credit categories.
Microeconomics Of Banking Third Edition
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Author : Xavier Freixas
language : en
Publisher: MIT Press
Release Date : 2023-08-22
Microeconomics Of Banking Third Edition written by Xavier Freixas and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-08-22 with Business & Economics categories.
The third edition of a leading text on the microeconomic foundations of banking, comprehensively updated with new coverage of the 2008 Global Financial Crisis, fintech, and the latest research in banking theory. The banking industry has undergone seismic change in the twenty-first century, from the overhaul of regulation in the wake of the 2008 Global Financial Crisis to the digitalization of the economy and the disruption of traditional business models by ascendant tech giants. Now in a comprehensively updated third edition, this essential graduate-level text on the microeconomic foundations of banking provides the rigorous theoretical approach required to understand these new structures and norms, functioning as a user’s guide to recent academic literature. Microeconomics of Banking offers a comprehensive view of the evolution of banking theory and the rapidly changing realm of financial intermediation, examining the central issues and offering the necessary tools for understanding how they have been modeled. New edition highlights: Up-to-date coverage of the latest research in banking theory as well as the events of the global financial crisis and resultant Basel III regulatory framework New chapters on liquidity and systemic risk New material throughout on cryptocurrencies, fintech, and other facets of a digitalized economy
Credit Supply And Productivity Growth
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Author : Francesco Manaresi
language : en
Publisher: International Monetary Fund
Release Date : 2019-05-17
Credit Supply And Productivity Growth written by Francesco Manaresi and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-17 with Business & Economics categories.
We study the impact of bank credit on firm productivity. We exploit a matched firm-bank database covering all the credit relationships of Italian corporations, together with a natural experiment, to measure idiosyncratic supply-side shocks to credit availability and to estimate a production model augmented with financial frictions. We find that a contraction in credit supply causes a reduction of firm TFP growth and also harms IT-adoption, innovation, exporting, and adoption of superior management practices, while a credit expansion has limited impact. Quantitatively, the credit contraction between 2007 and 2009 accounts for about a quarter of observed the decline in TFP.
Development Microeconomics
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Author : Pranab Bardhan
language : en
Publisher: OUP Oxford
Release Date : 1999-05-06
Development Microeconomics written by Pranab Bardhan and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-05-06 with Business & Economics categories.
Traditional development economics has recently been revolutionized by the application of new economic tools and concepts. Development Microeconomics is the first in a series of books which will look at the entire spectrum of development economics issues, combining the strengths of conventional developmental thought with the insights of contemporary mainstream economics. The main new conceptual tool used is the application of the theory of imperfect information and the effects this has on the the behaviour of economic agents. This helps to explain why perfect competition models rarely have success when dealing with developing economies. The authors also stress the necessity of balance in dealing with many of the classic problems in development studiesthe importance of both the individual as economic agent and cultural norms as the framework of social behaviour; the dual relationship between equity and efficiency in economic policy-making; the importance of market rivalry and the potential of market breakdown. Designed specifically for graduate students, this book analyses the key microeconomic problems facing the very poorest sectors of developing economies. It utilises simple theoretical models, and is presented in a compact and analytical form. High technical sophistication is avoided, and the only pre-requisite is some familiarity with the tools of general microecomic theory at a first-year graduate or advanced undergraduate level.
The Theory Of Credit Contracts
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Author : Christian Prem
language : en
Publisher: Springer Nature
Release Date : 2020-02-08
The Theory Of Credit Contracts written by Christian Prem and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-02-08 with Business & Economics categories.
In this book Christian Prem features new innovations on several levels. On a conceptual level he presents a complete restructuring and modularisation of the field of lending theory. On a formal level he bestows great care on providing precise definitions and promotes notational standardisation. On a technical level the development of an algorithm to solve repayment games automatically is thoroughly documented. Eventually, new theoretic results on the performance of various credit schemes are established, the quality of existing lending schemes is scrutinised and new more efficient mechanisms are presented. The content therefore inspires theorists as well as it provides well-grounded advice to practitioners in the lending industry. Altogether this thesis is a major step towards improving the quality and applicability of lending theory.
Monetary Theory And Policy
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Author : Carl E. Walsh
language : en
Publisher: MIT Press
Release Date : 2003
Monetary Theory And Policy written by Carl E. Walsh and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business & Economics categories.
An overview of recent theoretical and policy-related developments in monetary economics.
Advanced Microeconomics
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Author : Bibhas Saha
language : en
Publisher: Taylor & Francis
Release Date : 2024-07-08
Advanced Microeconomics written by Bibhas Saha and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-07-08 with Business & Economics categories.
Advanced Microeconomics presents microeconomic problems in an intuitive way. Using lucid narratives to build on students’ initial understanding of economics and economic reality, equations and diagrams are incorporated to provide accessibility to students with a basic level of calculus to reach precise quantitative answers. It covers the standard areas of microeconomics such as consumer theory, producer theory, economics of uncertainty, general equilibrium and markets. The book also includes new developments such as behavioural economics, prospect and regret theory, public-sector firms, bargaining, signalling games, adverse selection and moral hazard. Real-life applications are given throughout the chapters, clearly showing students how the advanced theory connects to the real world. Each chapter provides a set of exercises for independent problem-solving. Learning is also supported by lists of key terms, chapter summaries and further reading suggestions. Advanced technical materials are presented in optional appendices. Digital supplements include quiz questions, solutions to exercises and instructor materials. The flexible chapter sequencing in the book enables instructors to create their preferred syllabus. Developing students’ intuitive appreciation for the theory as well as mathematical analysis, this is the ideal textbook for microeconomics courses at master’s level (MSc and MRes) and advanced undergraduate level.
The Microeconomics Of Insurance
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Author : Ray Rees
language : en
Publisher: Now Publishers Inc
Release Date : 2008
The Microeconomics Of Insurance written by Ray Rees and has been published by Now Publishers Inc this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Business & Economics categories.
In this relatively short survey, we present the core elements of the microeconomic analysis of insurance markets at a level suitable for senior undergraduate and graduate economics students. The aim of this analysis is to understand how insurance markets work, what their fundamental economic functions are, and how efficiently they may be expected to carry these out.