Advanced Search
MyIDEAS: Login

Hétérogénéité du système bancaire et « capital crunch »

Contents:

Author Info

  • Olivier Bruno
  • Marc-Antoine Prunier

Abstract

In a heterogeneous financial system, we study a capital crunch transmission on total investment. We develop a model of endogenous credit allocation in which investors, small and large banks differ according to their level of capital and monitoring technology. In a context of moral hazard, imperfect substitutability between the different sources of external funds explains firms? optimal choice of financing and the credit allocation in the economy. We show that a shock on the capital of the small bank leads to a contraction of credit and total investment larger than a shock of the same strength on the capital of the large bank. This result is explained by imperfect credit reallocation and by an asymmetrical increase of the different banks? interest rate. Classification JEL : E5, D8, G2.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.cairn.info/load_pdf.php?ID_ARTICLE=RECO_584_0841
Download Restriction: restricted

File URL: http://www.cairn.info/revue-economique-2007-4-page-841.htm
Download Restriction: restricted

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Bibliographic Info

Article provided by Presses de Sciences-Po in its journal Revue économique.

Volume (Year): 58 (2007)
Issue (Month): 4 ()
Pages: 841-861

as in new window
Handle: RePEc:cai:recosp:reco_584_0841

Contact details of provider:
Web page: http://www.cairn.info/revue-economique.htm

Related research

Keywords:

Find related papers by JEL classification:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:cai:recosp:reco_584_0841. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jean-Baptiste de Vathaire).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.