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BEGIN:VEVENT
UID:556b78810c1e80b4ce70ea5f98f0726e
CATEGORIES:Seminars
CREATED:20170418T181836
SUMMARY:Lunch Seminar: Sergei Kovbasyuk - EIEF
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p style="text-align: justify;"><strong>Endogenous Credit Cycles</strong></
 p><p style="text-align: justify;">Abstract:<br /> We study a dynamic contin
 uous-time model of a credit market, where borrower’s type is unknown to the
  lenders, and a credit bureau reports information about borrowers’ past. Cr
 edit bureau has limited memory: records older than a certain limit are dele
 ted. When credit memory is long the model generates endogenous, determinist
 ic credit cycles in the absence of any aggregate shocks. Aggregate lending 
 booms and busts happen sequentially and stem from the endogenous amount of 
 information about borrowers produced by the market and reported by the cred
 it bureau. Shortening credit bureau’s memory makes cycles shorter.</p>
DTSTAMP:20260502T120252Z
DTSTART:20160707T130000Z
DTEND:20160707T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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