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 presented a business-cycle model incorporating financial frictions and firm productivity heterogeneity. In this model, firms with productivity above a threshold remain operational, while imperfect contract enforcement incentivizes loan defaults. We analyzed the link between credit constraints and aggregate output, and the incentive constraints arising from firm value functions based on default and non-default scenarios.
本期預告
We will explore the competitive equilibrium, examining the potential for self-fulfilling equilibria and the monotonic relationship between the productivity threshold and the aggregate loan-to-output ratio. We will also discuss how technology shocks can be amplified by credit constraints and resource reallocation mechanisms.
點評老師
王忏 明洋
時間
10月19日18:30-21:30
地點
學術會堂712
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
撰稿：孫敏娴
審稿：明洋
排版：曲泰萊
編輯：沈嘉怡
審核：王穎
