Self-fulfilling credit market freezes:
"This paper develops a model of a self-fulfilling credit market freeze and uses it to study alternative governmental responses to such a crisis. We study an economy in which operating firms are interdependent, with their success depending on the ability of other operating firms to obtain financ...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
2010
|
| Schriftenreihe: | NBER working paper series
16031 |
| Zusammenfassung: | "This paper develops a model of a self-fulfilling credit market freeze and uses it to study alternative governmental responses to such a crisis. We study an economy in which operating firms are interdependent, with their success depending on the ability of other operating firms to obtain financing. In such an economy, an inefficient credit market freeze may arise in which banks abstain from lending to operating firms with good projects because of their self-fulfilling expectations that other banks will not be making such loans. Our model enables us to study the effectiveness of alternative measures for getting an economy out of an inefficient credit market freeze. In particular, we study the effectiveness of interest rate cuts, infusion of capital into banks, direct lending to operating firms by the government, and the provision of government capital or guarantees to finance or encourage privately managed lending. Our analysis provides a framework for analyzing and evaluating the standard and nonstandard instruments used by authorities during the financial crisis of 2008-2009"--National Bureau of Economic Research web site |
| Beschreibung: | Parallel als Online-Ausg. erschienen |
| Beschreibung: | 41 S. |
Internformat
MARC
| LEADER | 00000nam a2200000 cb4500 | ||
|---|---|---|---|
| 001 | BV036520910 | ||
| 003 | DE-604 | ||
| 005 | 20100927 | ||
| 007 | t | ||
| 008 | 100624s2010 |||| 00||| eng d | ||
| 035 | |a (DE-599)GBV629788588 | ||
| 040 | |a DE-604 |b ger | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-M382 | ||
| 100 | 1 | |a Bebchuk, Lucian A. |d 1955- |e Verfasser |0 (DE-588)124080219 |4 aut | |
| 245 | 1 | 0 | |a Self-fulfilling credit market freezes |c Lucian A. Bebchuk ; Itay Goldstein |
| 264 | 1 | |a Cambridge, Mass. |c 2010 | |
| 300 | |a 41 S. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 490 | 1 | |a NBER working paper series |v 16031 | |
| 500 | |a Parallel als Online-Ausg. erschienen | ||
| 520 | 1 | |a "This paper develops a model of a self-fulfilling credit market freeze and uses it to study alternative governmental responses to such a crisis. We study an economy in which operating firms are interdependent, with their success depending on the ability of other operating firms to obtain financing. In such an economy, an inefficient credit market freeze may arise in which banks abstain from lending to operating firms with good projects because of their self-fulfilling expectations that other banks will not be making such loans. Our model enables us to study the effectiveness of alternative measures for getting an economy out of an inefficient credit market freeze. In particular, we study the effectiveness of interest rate cuts, infusion of capital into banks, direct lending to operating firms by the government, and the provision of government capital or guarantees to finance or encourage privately managed lending. Our analysis provides a framework for analyzing and evaluating the standard and nonstandard instruments used by authorities during the financial crisis of 2008-2009"--National Bureau of Economic Research web site | |
| 700 | 1 | |a Goldstein, Itay |d 1973- |e Verfasser |0 (DE-588)129796840 |4 aut | |
| 830 | 0 | |a NBER working paper series |v 16031 |w (DE-604)BV002801238 |9 16031 | |
| 999 | |a oai:aleph.bib-bvb.de:BVB01-020442917 | ||
Datensatz im Suchindex
| _version_ | 1804143093371371520 |
|---|---|
| any_adam_object | |
| author | Bebchuk, Lucian A. 1955- Goldstein, Itay 1973- |
| author_GND | (DE-588)124080219 (DE-588)129796840 |
| author_facet | Bebchuk, Lucian A. 1955- Goldstein, Itay 1973- |
| author_role | aut aut |
| author_sort | Bebchuk, Lucian A. 1955- |
| author_variant | l a b la lab i g ig |
| building | Verbundindex |
| bvnumber | BV036520910 |
| ctrlnum | (DE-599)GBV629788588 |
| format | Book |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>02056nam a2200289 cb4500</leader><controlfield tag="001">BV036520910</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="005">20100927 </controlfield><controlfield tag="007">t</controlfield><controlfield tag="008">100624s2010 |||| 00||| eng d</controlfield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)GBV629788588</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-M382</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Bebchuk, Lucian A.</subfield><subfield code="d">1955-</subfield><subfield code="e">Verfasser</subfield><subfield code="0">(DE-588)124080219</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Self-fulfilling credit market freezes</subfield><subfield code="c">Lucian A. Bebchuk ; Itay Goldstein</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Cambridge, Mass.</subfield><subfield code="c">2010</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">41 S.</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">n</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">nc</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="1" ind2=" "><subfield code="a">NBER working paper series</subfield><subfield code="v">16031</subfield></datafield><datafield tag="500" ind1=" " ind2=" "><subfield code="a">Parallel als Online-Ausg. erschienen</subfield></datafield><datafield tag="520" ind1="1" ind2=" "><subfield code="a">"This paper develops a model of a self-fulfilling credit market freeze and uses it to study alternative governmental responses to such a crisis. We study an economy in which operating firms are interdependent, with their success depending on the ability of other operating firms to obtain financing. In such an economy, an inefficient credit market freeze may arise in which banks abstain from lending to operating firms with good projects because of their self-fulfilling expectations that other banks will not be making such loans. Our model enables us to study the effectiveness of alternative measures for getting an economy out of an inefficient credit market freeze. In particular, we study the effectiveness of interest rate cuts, infusion of capital into banks, direct lending to operating firms by the government, and the provision of government capital or guarantees to finance or encourage privately managed lending. Our analysis provides a framework for analyzing and evaluating the standard and nonstandard instruments used by authorities during the financial crisis of 2008-2009"--National Bureau of Economic Research web site</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Goldstein, Itay</subfield><subfield code="d">1973-</subfield><subfield code="e">Verfasser</subfield><subfield code="0">(DE-588)129796840</subfield><subfield code="4">aut</subfield></datafield><datafield tag="830" ind1=" " ind2="0"><subfield code="a">NBER working paper series</subfield><subfield code="v">16031</subfield><subfield code="w">(DE-604)BV002801238</subfield><subfield code="9">16031</subfield></datafield><datafield tag="999" ind1=" " ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-020442917</subfield></datafield></record></collection> |
| id | DE-604.BV036520910 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-09T22:42:11Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-020442917 |
| open_access_boolean | |
| owner | DE-M382 |
| owner_facet | DE-M382 |
| physical | 41 S. |
| publishDate | 2010 |
| publishDateSearch | 2010 |
| publishDateSort | 2010 |
| record_format | marc |
| series | NBER working paper series |
| series2 | NBER working paper series |
| spelling | Bebchuk, Lucian A. 1955- Verfasser (DE-588)124080219 aut Self-fulfilling credit market freezes Lucian A. Bebchuk ; Itay Goldstein Cambridge, Mass. 2010 41 S. txt rdacontent n rdamedia nc rdacarrier NBER working paper series 16031 Parallel als Online-Ausg. erschienen "This paper develops a model of a self-fulfilling credit market freeze and uses it to study alternative governmental responses to such a crisis. We study an economy in which operating firms are interdependent, with their success depending on the ability of other operating firms to obtain financing. In such an economy, an inefficient credit market freeze may arise in which banks abstain from lending to operating firms with good projects because of their self-fulfilling expectations that other banks will not be making such loans. Our model enables us to study the effectiveness of alternative measures for getting an economy out of an inefficient credit market freeze. In particular, we study the effectiveness of interest rate cuts, infusion of capital into banks, direct lending to operating firms by the government, and the provision of government capital or guarantees to finance or encourage privately managed lending. Our analysis provides a framework for analyzing and evaluating the standard and nonstandard instruments used by authorities during the financial crisis of 2008-2009"--National Bureau of Economic Research web site Goldstein, Itay 1973- Verfasser (DE-588)129796840 aut NBER working paper series 16031 (DE-604)BV002801238 16031 |
| spellingShingle | Bebchuk, Lucian A. 1955- Goldstein, Itay 1973- Self-fulfilling credit market freezes NBER working paper series |
| title | Self-fulfilling credit market freezes |
| title_auth | Self-fulfilling credit market freezes |
| title_exact_search | Self-fulfilling credit market freezes |
| title_full | Self-fulfilling credit market freezes Lucian A. Bebchuk ; Itay Goldstein |
| title_fullStr | Self-fulfilling credit market freezes Lucian A. Bebchuk ; Itay Goldstein |
| title_full_unstemmed | Self-fulfilling credit market freezes Lucian A. Bebchuk ; Itay Goldstein |
| title_short | Self-fulfilling credit market freezes |
| title_sort | self fulfilling credit market freezes |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT bebchukluciana selffulfillingcreditmarketfreezes AT goldsteinitay selffulfillingcreditmarketfreezes |