Credit Rationing: a Perspective from New Keynesian Economics
This research analyzes alternate explanations for credit rationing suggested by New Keynesian Economics and provides a classification of different theoretical contributions: a) financing and evaluating investment projects; b) relationship between lenders and borrowers; c) macroeconomics and structur...
| Autores: | , |
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| Tipo de documento: | artigo |
| Estado: | Versão publicada |
| Data de publicação: | 2012 |
| País: | México |
| Recursos: | UNIVERSIDAD NACIONAL AUTÓNOMA DE MÉXICO |
| Repositório: | Problemas del Desarrollo. Revista Latinoamericana de Economía |
| Idioma: | espanhol |
| OAI Identifier: | oai:ojs.pkp.sfu.ca:article/33487 |
| Acesso em linha: | https://www.probdes.iiec.unam.mx/index.php/pde/article/view/33487 |
| Access Level: | Acceso aberto |
| Palavra-chave: | New Keynesian Economics credit rationing imperfect information price rigidity Nueva Economía Keynesiana racionamiento de crédito información imperfecta rigidez de precios |
| Resumo: | This research analyzes alternate explanations for credit rationing suggested by New Keynesian Economics and provides a classification of different theoretical contributions: a) financing and evaluating investment projects; b) relationship between lenders and borrowers; c) macroeconomics and structure of the financial system. What these models have in common under this theoretical approach is the adoption of orthodox methodology in how they interpret imbalances in the credit market. They provide different hypothesis for the origin of the imbalance, such as market failures, rigid prices and imperfect information. The main critique to this approach is not the multitude of hypotheses offered, but rather the absence of an explanation concerning the link between the credit market, monetary policy and the real sector. |
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