主讲人：Edward Green 教授
宾西法尼亚州立大学经济系
题 目：Heterogeneous Producers Facing Common Shocks: An Overlapping Generations Example
时 间：2005年6月15日（星期三）下午14:00-15:30
地 点：北京大学中国经济研究中心万众楼小教室
工作语言：英文
联系电话：62751475
演讲简介
Ben Bernanke and Mark Gertler conjecture that small firms are rationed in credit markets because they have less collateral relative to their scale of operations than large firms have, and that their resulting inability to borrow makes them particularly sensitive to business- cycle shocks. An alternate model of small firms' sensitivity to the business cycle, not invoking nonprice rationing or other market imperfections, is presented here. The model suggests an observation, by which it might be possible to discriminate between the two theories.
