Capital Mobility in a Second Best World -- Moral Hazard With Costly Financial Intermediation
收藏NBER1998-08-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w6703
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资源简介：
This paper studies the welfare effects of financial integration in the presence of moral hazard. Entrepreneurs face a trade off between risk and return. Banks may mitigate the resultant excessive risk by costly monitoring, where greater risk reduction requires more resources devoted to risk
提供机构：
美国国家经济研究局
创建时间：
1998-08-01
