Detail Credit Rationing in An Open Economy   Oleh:  Zeira, Joseph Jenis: Article from Bulletin/Magazine Dalam koleksi: INTERNATIONAL ECONOMIC REVIEW vol. 32 no. 4 (1991), page 959-972. Topik: economy; credit rationing; open economy Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: II49.1 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel This paper claims that credit markets' imperfections matter significantly to open economies, and can alter basic macroeconomic results. This is demonstrated in the paper by use of an open economy model with individual credit rationing, due to asymmetric information and moral hazard. The paper concentrates on the effect of fiscal policy and shows that when credit is rationed, the standard result does not hold and a fiscal expansion may create a surplus instead of a deficit in the current account. Furthermore, the paper shows that whether credit is rationed or not depends on the tax burden. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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