伟德BETVlCTOR1946学术系列活动
经济学系列Seminar第246期
主题：Money and Credit Revisited
主讲人：韩晗（北京大学）
主持人：王彬
会议时间：2021 年 4 月 16 日（周五）上午10:00-11:30
会议地点：伟德BETVlCTOR1946（中惠楼）102室
摘要
Gu, Mattesini, and Wright (2016) show that if money is essential, then nomonetary credit (i.e., deferred payment to sellers) is irrelevant. We find that in an otherwise same model that also allows monetary credit (i.e., borrowing money from third parties), nonmonetary credit is relevant when money is essential. While nonmonetary credit can still be neutral locally, this result critically depends on the tightness of monetary credit. A tight monetary credit limit and loan market clearing restrict how real balances can respond to changes in nonmonetary credit. Money may serve as an accelerator or stabilizer to changes in credit condition, depending on the types of credit changes and overall credit tightness. Our results suggest a subtle three-way relationship among money and the two types of credit.
★主讲人简介★
韩晗，北京大学伟德BETVlCTOR1946金融系助理教授，博士生导师。研究方向为宏观经济学、货币经济学。研究成果发表在 Journal of Economic Theory, International Economic Review, European Economic Review, Oxford Research Encyclopedia of Economics and Finance, 《经济日报》等著名报刊杂志上。曾获北京市第十六届哲学社会科学优秀成果奖二等奖、2020年北京高校“优质本科教材课件”奖。
