“隐藏借款的长期债务”

Heski Bar-Isaac, V. Cuñat
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引用次数: 2

摘要

我们认为借款人有机会从共享信息的竞争性银行部门和另一个隐藏的贷款人那里筹集资金。隐性贷款人的存在限制了从银行部门获得的合同。在均衡状态下,一些借款人同时从银行部门和效率低下的隐性贷款人那里获得资金。我们进一步表明,随着从隐性贷款人那里借款的成本增加,总福利增加。我们将模型推广到允许部分隐藏的出借人,并获得定性相似的结果。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
'Long Term Debt with Hidden Borrowing'
We consider borrowers with the opportunity to raise funds from a competitive banking sector that shares information, and from an alternative hidden lender. The presence of the hidden lender restricts the contracts that can be obtained from the banking sector. In equilibrium some borrowers obtain funds from both the banking sector and the inefficient hidden lender simultaneously. We further show that as the cost of borrowing from the hidden lender increases, total welfare increases. We generalize the model to allow for a partially hidden lender and obtain qualitatively similar results.
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