时 间：2020年11月17日（周二）10:00-11:30
地 点：腾讯会议 ID：258 191 044
题 目：Money and Credit Revisited
主讲人：韩晗 北京大学经济学院助理教授
摘 要：
Gu, Mattesini, and Wright (2016) show that if money is essential, then credit is irrelevant. This paper extends their framework to allow indirect credit (i.e., borrowing money from third parties), in addition to direct credit (i.e., from sellers). We find that if direct credit is easy, then money is inessential; if direct credit is tight, money can be essential, and then credit is irrelevant only if the nominal interest rate on indirect credit is zero, which happens when both types of credit are sufficiently tight – otherwise, conditions of either type of credit matter in the monetary equilibrium.
中文版摘要：顾等（2016）的文章阐明了当货币和信用同时运用时，信用额度不是必要的，也就是信用额度的增减不改变均衡的结果和福利。我们引用间接信用重新研究这一问题。 我们发现如果间接信用不足时，在一定的参数区域内，货币和信用都是必要的。这个结论为探讨货币和信用的关系提供了新的角度。
报告人简介：
韩晗博士毕业于University of Wiconsin-Madison，现为北京大学经济学院助理教授。研究方向为宏观经济学，货币经济学，和金融中介等。韩晗博士的研究成果发表在 《Journal of Economic Theory》, 《International Economic Review》，《European Economic Review》，《Oxford Research Encyclopedia of Economics and Finance》等著名杂志上。