A theory of domestic and international trade finance /
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| Author / Creator: | Ahn, JaeBin, author. |
|---|---|
| Imprint: | [Washington, D.C.] : International Monetary Fund, ©2011. |
| Description: | 1 online resource (36 pages) |
| Language: | English |
| Series: | IMF working paper ; WP/11/262 IMF working paper ; WP/11/262. |
| Subject: | |
| Format: | E-Resource Book |
| URL for this record: | http://pi.lib.uchicago.edu/1001/cat/bib/12499659 |
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| 050 | 4 | |a HF1008 |b .A36 2011eb | |
| 050 | 4 | |a HG3881.5.I58 |b W67 No. 11/262eb | |
| 100 | 1 | |a Ahn, JaeBin, |e author. |0 http://id.loc.gov/authorities/names/no2011180639 | |
| 245 | 1 | 2 | |a A theory of domestic and international trade finance / |c JaeBin Ahn. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2011. | ||
| 300 | |a 1 online resource (36 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper ; |v WP/11/262 | |
| 500 | |a At head of title: Research Department. | ||
| 500 | |a Title from PDF title page (IMF Web site, viewed November 23, 2011). | ||
| 500 | |a "November 2011." | ||
| 520 | |a This paper provides a theory model of trade finance to explain the "great trade collapse." The model shows that, first, the riskiness of international transactions rises relative to domestic transactions during economic downturns, and second, the exclusive use of a letter of credit in international transactions exacerbates a collapse in trade during a financial crisis. The basic model considers banks' optimal screening decisions in the presence of counterparty default risks. In equilibrium, banks will maintain a higher precision screening test for domestic firms and a lower precision screening test for foreign firms, which constitutes the main mechanism of the model. | ||
| 504 | |a Includes bibliographical references. | ||
| 505 | 0 | |a Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Baseline Model; A. Banks with Costly Screening; 1. Screening Tests for Transactions Under Open Account System; 2. Property of Screening Tests; III. Trade Finance Premium; A. Optimal Investment in Screening Tests; 3. Optimal Investment in Screening Tests; B. Counter-Cyclical Trade Finance Premium; IV. Extension: A Letter of Credit (L/C); A.A Letter of Credit (L/C); B. Optimal Payment System; 4. L/C vs OA: Simplified Illustration; C. Banking Crisis and A Letter of Credit. | |
| 505 | 8 | |a 5. Cyclicality of the Relative Export Sales (L/C) to Domestic Sales (OA)V. Conclusion; References; Footnotes. | |
| 546 | |a English. | ||
| 650 | 0 | |a Commerce |x Econometric models. | |
| 650 | 0 | |a Bank loans |x Econometric models. | |
| 650 | 6 | |a Commerce |x Modèles économétriques. | |
| 650 | 6 | |a Prêts bancaires |x Modèles économétriques. | |
| 650 | 7 | |a Bank loans |x Econometric models. |2 fast |0 (OCoLC)fst00826709 | |
| 650 | 7 | |a Commerce |x Econometric models. |2 fast |0 (OCoLC)fst00869286 | |
| 655 | 4 | |a Electronic books. | |
| 710 | 2 | |a International Monetary Fund. |b Research Department, |e issuing body. |0 http://id.loc.gov/authorities/names/n77001219 | |
| 776 | 0 | 8 | |i Print version: |a Ahn, JaeBin. |t A Theory of Domestic and International Trade Finance. |d Washington : International Monetary Fund, ©2011 |z 9781463924607 |
| 830 | 0 | |a IMF working paper ; |v WP/11/262. |0 http://id.loc.gov/authorities/names/no89010263 | |
| 856 | 4 | 0 | |u http://elibrary.imf.org/view/journals/001/2011/262/001.2011.issue-262-en.xml |y INTERNATIONAL MONETARY FUND |
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| 928 | |t Library of Congress classification |a HF1008.A36 2011eb |l Online |c UC-FullText |u http://elibrary.imf.org/view/journals/001/2011/262/001.2011.issue-262-en.xml |z INTERNATIONAL MONETARY FUND |g ebooks |i 12143785 | ||