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Entrepreneurial Moral Hazard and Bank Monitoring: A Model of the Credit Channel Author info | Abstract | Publisher info | Download info | Related research | Statistics Repullo,R.
Suarez,J.
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This paper considers a model of firms' financing based on the existence of a moral hazard problem in the choice of investment projects by a heterogeneous population of entrepreneurs. Two alternative ways of funding these projects, called unmonitored (or market) and monitored (or bank) lending, are analyzed.
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Paper provided by Centro de Estudios Monetarios Y Financieros- in its series Papers with number
9604.
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Length: 42 pages
Date of creation: 1996Date of revision:
Handle: RePEc:fth:cemfdt:9604Contact details of provider: Postal: Centro de Estudios Monetarios Y Financieros. Casado del Alisal, 5-28014 Madrid, Spain. Phone: 914290551 Fax: 914291056 Email: Web page: http://www.cemfi.es/ More information through EDIRC
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Keywords: MODELS ; MORAL HAZARD ; BANKS ; MONEY ; MONETARY POLICY ; Other versions of this item:
Find related papers by JEL classification: D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.:
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Oliner, Stephen D & Rudebusch, Glenn D, 1996.
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The Quarterly Journal of Economics ,
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Mark Gertler & Simon Gilchrist, 1991.
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Kiyotaki, Nobuhiro & Moore, John, 1997.
"Credit Cycles ,"
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Gertler, Mark & Gilchrist, Simon, 1993.
" The Role of Credit Market Imperfections in the Monetary Transmission Mechanism: Arguments and Evidence ,"
Scandinavian Journal of Economics ,
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American Economic Review ,
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Other versions: Bruce C. Greenwald & Joseph E. Stiglitz, 1993.
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Other versions: Holmstrom, Bengt & Tirole, Jean, 1997.
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"The Credit Crunch ,"
Brookings Papers on Economic Activity ,
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Bernanke, Ben & Gertler, Mark & Gilchrist, Simon, 1996.
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The Review of Economics and Statistics ,
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Ben Bernanke & Mark Gertler & Simon Gilchrist, 1994.
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Other versions: Bhattacharya Sudipto & Chiesa Gabriella, 1995.
"Proprietary Information, Financial Intermediation, and Research Incentives ,"
Journal of Financial Intermediation ,
Elsevier, vol. 4(4), pages 328-357, October.
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Kashyap, Anil K. & Stein, Jeremy C., 1995.
"The impact of monetary policy on bank balance sheets ,"
Carnegie-Rochester Conference Series on Public Policy ,
Elsevier, vol. 42(1), pages 151-195, June.
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"Credit, Money, and Aggregate Demand ,"
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"Money, Income, Prices, and Interest Rates ,"
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American Economic Association, vol. 82(3), pages 472-92, June.
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Simona MATEUT & Spiros BOUGHEAS & Paul MIZEN, 2003.
"Trade Credit, Bank Lending and Monetary Policy Transmission ,"
Economics Working Papers
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Mateut, Simona & Spiros Bougheas & Paul Mizen, 2003.
"Trade Credit, Bank Lending and Monetary Policy Transmission ,"
Royal Economic Society Annual Conference 2003
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"Trade credit, bank lending and monetary policy transmission ,"
European Economic Review ,
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"Multiple Lending and Constrained Efficiency in the Credit Market ,"
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Andrea, ATTAR & Eloisa, CAMPIONI & Gwena‘l, PIASER, 2005.
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Jacobson, Tor & Kindell, Rikard & Lindé, Jesper & Roszbach, Kasper F., 2008.
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Tinbergen Institute Discussion Papers
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Katheryn N. Russ & Diego Valderrama, 2009.
"A Theory of Banks, Bonds, and the Distribution of Firm Size ,"
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Russ, Katheryn N. & Valderrama, Diego, 2009.
"A Theory of Banks, Bonds, and the Distribution of Firm Size ,"
Working Papers
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"A theory of banks, bonds, and the distribution of firm size ,"
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"An empirical study of the cyclical effects of monetary policy in Spain (1977-1997) ,"
Investigaciones Economicas ,
Fundación SEPI, vol. 25(1), pages 3-30, January.
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