研讨論文
Credit Constraints and Self-Fulfilling Business Cycles (AEJ: Macro. Liu and Wang, 2014)
主講人
孫敏娴（中經管2021級博士生）
上期回顧
We measured the credit constraints through a financial factor represented by the ratio of working capital loans to aggregate output. We demonstrated how changes in equity value directly impact firms' borrowing capacity, leading to a procyclical reallocation of productive factors and increased aggregate productivity.
本期預告
We will focus on equilibrium indeterminacy, particularly considering the effect of expectations of higher future output. We aim to show how indeterminacy arises and explain why a sufficiently large financial multiplier can generate self-fulfilling business cycles.
時間
10月26日 18:30-21:30
地點
學術會堂712
主持人/點評老師
王忏 明洋
活動對象
韦德体育bevictor、金融學院學生
人數規模
30人
主辦單位
韦德体育bevictor中國經濟與管理研究院、金融學院聯合主辦
END
撰稿：孫敏娴
審稿：汪雄劍、明洋
排版：宋一慧
編輯：沈嘉怡
審核: 王穎
