會議論文
| 學年 | 87 |
|---|---|
| 學期 | 2 |
| 發表日期 | 1999-06-05 |
| 作品名稱 | Financial contracts and regime switching in business cycles |
| 作品名稱（其他語言） | |
| 著者 | 林志鴻 |
| 作品所屬單位 | 淡江大學國際貿易學系暨國際企業研究所 |
| 出版者 | 臺北縣淡水鎮：淡江大學 |
| 會議名稱 | 國際經濟、企業、與經貿法規學術研討會 |
| 會議地點 | 臺北縣, 臺灣 |
| 摘要 | A theoretical model of financial intermediary- productive borrower bilateral monopoly with regime switching in business cycles is developed. This paper implies that the market power shifting either from an intermediary to a productive firm (Borrower) or from a productive firm to an intermediary has a direct effect on the composition of the optimal financial contract. This paper suggests that: (1 ) a loan-rate-taking financial intermediary dominated by a productive borrower is reluctant to grant new services during cyclical expansions and (2) a loan-rate-setting financial intermediary is willing to grant new services during cyclical contractions. Innovations in the financial intermediary's service are discouraged by monopsony power in the intermediary-borrower bilateral structure during cyclical expansions. |
| 關鍵字 | 景氣循環;財務契約;制度變遷;獨佔解;金融中介;Business Cycle;Financial Contract;Regime Switching;Monopoly Solution;Financial Intermediary |
| 語言 | en |
| 收錄於 | |
| 會議性質 | 國內 |
| 校內研討會地點 | 淡水校園 |
| 研討會時間 | 19990605~19990605 |
| 通訊作者 | |
| 國別 | |
| 公開徵稿 | |
| 出版型式 | |
| 出處 | 國際經濟、企業、與經貿法規學術研討會論文集, pp.235-251 |
| 相關連結 |
機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/19192 ) |