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Credit Expansion and Credit Misallocation
Journal of Monetary Economics, 2011This paper develops a general equilibrium model to analyze the interaction between two sectors with differing degree of financial friction in the context of liquidity injections (credit expansion). We show that if too much liquidity is injected into the economy, overheating can build up in the sector with lower friction, crowding liquidity out of the ...
Bleck, Alexander, Liu, Xuewen
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Credit Risk and Credit Rationing
The Quarterly Journal of Economics, 1960I. Approaches to credit rationing, 258. — II. The influence of credit risk on loan payoff, 259. — III. Implications for lender behavior and borrower access to credit, 267. — IV. The central bank's influence, 275.
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Credit, Credit Derivatives, and Credit Default
2011After some empirics we want to build up some theory. This will be done in this and the next chapter. As shown in ch. 19, one of the accelerating and magnifying forces in the recent financially driven boom-bust cycle seems to have come from credit and credit derivatives. Before going into the securitization of debt instruments, which played an important
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British Journal of Sociology, 2003
ABSTRACTThis paper analyses financial credit in order to re‐examine the work of Norbert Elias, particularly his association of interdependency complexity with social discipline, and his approach to contradiction. Following a discussion of these issues, the paper examines Elias's writing on money and explores the emergence of financial credit networks ...
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ABSTRACTThis paper analyses financial credit in order to re‐examine the work of Norbert Elias, particularly his association of interdependency complexity with social discipline, and his approach to contradiction. Following a discussion of these issues, the paper examines Elias's writing on money and explores the emergence of financial credit networks ...
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Buyer’s Credits, Lines of Credit and Supplier’s Credits
1995These structures have evolved to provide credit terms to buyers to support their purchase of bigger ticket imports. They are often, though not necessarily, guaranteed by a state Export Credit Agency (ECA) from the exporter’s country. ECA support will be dealt with later but will be mentioned where it is relevant to the structures described in this ...
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