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UID:556b78810c1e80b4ce70ea5f98f0726e
CATEGORIES:Seminars
CREATED:20170418T181836
SUMMARY:Lunch Seminar: Sergei Kovbasyuk - EIEF
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Endogenous Credit Cycles\nAbstract:\n We study a dynamic continuous-time mo
 del of a credit market, where borrower’s type is unknown to the lenders, an
 d a credit bureau reports information about borrowers’ past. Credit bureau 
 has limited memory: records older than a certain limit are deleted. When cr
 edit memory is long the model generates endogenous, deterministic credit cy
 cles in the absence of any aggregate shocks. Aggregate lending booms and bu
 sts happen sequentially and stem from the endogenous amount of information 
 about borrowers produced by the market and reported by the credit bureau. S
 hortening credit bureau’s memory makes cycles shorter.\n
DTSTAMP:20260502T120058Z
DTSTART:20160707T130000Z
DTEND:20160707T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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