腐漫网

时间：2026年4月1日10:00-11:30(周三)

地点：明德主楼729

主讲人：Randall Wright  威斯康星大学麦迪逊分校商学院教授

主持人：朱萸副教授

题目：Intermediation and Imperfect Credit

摘要：

We study environments with intermediation(trade via middlemen)and credit that is constrained(either exogenously,or endogenously due to limited commitment).Existing models of middlemen assume they have advantages in search,bargaining,information,etc.Here they have advantages using credit,because they are better at credibly promising payments or enforcing others'payments.With exogenous debt limits there is a unique equilibrium transaction pattern-direct trade,indirect trade,or both-depending on parameters.With endogenous limits,there are multiple equilibria,including ones where credit conditions fluctuate as self-fulfilling prophecies.Depending on details,intermediaries may attenuate or amplify credit cycles.

主讲人简介：

Randall Wright教授现任威斯康辛大学麦迪逊分校商学院和经济系联席讲座教授，计量腐漫网 会会士。他在货币腐漫网 和宏观腐漫网 界有巨大的影响力，是新货币主义的领军人物。Randall Wright教授的研究范围涵盖货币，银行，信用和金融市场等领域；并取得了丰硕的科研成果。他在Econometrica,American Economic Review,Review of Economic Studies,Journal of Political Economy等世界顶级期刊发表20余篇论文。