{"title":"大流行时代的商业信贷计划","authors":"S. Hanson, J. Stein, Adi Sunderam, Eric Zwick","doi":"10.1353/eca.2020.0031","DOIUrl":null,"url":null,"abstract":"ABSTRACT:We develop a pair of models that speak to the goals and design of the sort of business lending and corporate bond purchase programs that have been introduced by governments in response to the ongoing COVID-19 pandemic. An overarching theme is that, in contrast to the classic lender-of-last-resort thinking that underpinned much of the response to the 2007–2009 global financial crisis, an effective policy response to the pandemic will require the government to accept the prospect of significant losses on credit extended to private sector firms.","PeriodicalId":51405,"journal":{"name":"Brookings Papers on Economic Activity","volume":"16 1","pages":"3 - 60"},"PeriodicalIF":2.7000,"publicationDate":"2021-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"31","resultStr":"{\"title\":\"Business Credit Programs in the Pandemic Era\",\"authors\":\"S. Hanson, J. Stein, Adi Sunderam, Eric Zwick\",\"doi\":\"10.1353/eca.2020.0031\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"ABSTRACT:We develop a pair of models that speak to the goals and design of the sort of business lending and corporate bond purchase programs that have been introduced by governments in response to the ongoing COVID-19 pandemic. An overarching theme is that, in contrast to the classic lender-of-last-resort thinking that underpinned much of the response to the 2007–2009 global financial crisis, an effective policy response to the pandemic will require the government to accept the prospect of significant losses on credit extended to private sector firms.\",\"PeriodicalId\":51405,\"journal\":{\"name\":\"Brookings Papers on Economic Activity\",\"volume\":\"16 1\",\"pages\":\"3 - 60\"},\"PeriodicalIF\":2.7000,\"publicationDate\":\"2021-10-12\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"31\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Brookings Papers on Economic Activity\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://doi.org/10.1353/eca.2020.0031\",\"RegionNum\":3,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"ECONOMICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Brookings Papers on Economic Activity","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1353/eca.2020.0031","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
ABSTRACT:We develop a pair of models that speak to the goals and design of the sort of business lending and corporate bond purchase programs that have been introduced by governments in response to the ongoing COVID-19 pandemic. An overarching theme is that, in contrast to the classic lender-of-last-resort thinking that underpinned much of the response to the 2007–2009 global financial crisis, an effective policy response to the pandemic will require the government to accept the prospect of significant losses on credit extended to private sector firms.
期刊介绍：
The Brookings Papers on Economic Activity (BPEA) is a semi-annual academic conference and journal that pairs rigorous research with real-time policy analysis to address the most urgent economic challenges of the day. Working drafts of the papers are presented and discussed at conferences typically held twice each year, and the final versions of the papers and comments along with summaries of the general discussions are published in the journal several months later. The views expressed by the authors, discussants and conference participants in BPEA are strictly those of the authors, discussants and conference participants, and not of the Brookings Institution. As an independent think tank, the Brookings Institution does not take institutional positions on any issue.
京公网安备 11010802042870号
京ICP备2023020795号-1
分享
求助内容：
应助结果提醒方式：
扫码关注我们
