Yongquan Cao - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T12:03:47+00:00Non-Performing Loans, Fiscal Costs and Credit Expansion in China
https://www.bankofcanada.ca/2018/11/staff-working-paper-2018-53/
This paper studies how the credit expansion policy pursued by the Chinese government in an effort to stimulate its economy in the post-crisis period affects bankāfirm loan contracts and the macroeconomy. We build a structural model with financial frictions in which the optimal loan contract reflects the trade-off between leverage and the probability of default.2018-11-01T13:08:43+00:00enNon-Performing Loans, Fiscal Costs and Credit Expansion in China2018-11-01Credit and credit aggregatesFiscal policyInternational topicsStaff Working Paper 2018-53https://www.bankofcanada.ca/wp-content/uploads/2018/11/swp2018-53.pdfNon-Performing Loans, Fiscal Costs and Credit Expansion in ChinaHuixin BiYongquan CaoWei DongNovember 2018EE4E44E6E62