【ECON201312】

宏观经济学研讨会

（总第141期）

【时间】2013年9月18日（周三）12：15－13：45

【地点】明商0202教室

【主讲】姚一旻　中国人民大学经济学院

【点评】陈朴　中国人民大学经济学院助理教授 明尼苏达大学经济学博士

【主题】The Macroeconomics of Microfinance (written by Francisco J. Buera, Joseph P. Kaboski, and Yongseok Shin, NBER Working Paper, 2012)

【摘要】We provide a quantitative evaluation of the aggregate and distributional impact of microfinance or credit programs targeted toward small businesses. We find that the redistributive impact of microfinance is stronger in general equilibrium than in partial equilibrium, but the impact on aggregate output and capital is smaller in general equilibrium. Aggregate TFP increases with microfinance in general equilibrium but decreases in partial equilibrium. When general equilibrium effects are accounted for, scaling up the microfinance program will have only a small impact on per-capita income, because the increase in TFP is counterbalanced by lower capital accumulation resulting from the redistribution of income from high-savers to low-savers. Nevertheless, the vast majority of the population will be positively affected by microfinance through the increase in equilibrium wages.

【主持】陈彦斌 教授

人大宏观经济学研讨会（Macro Workshop）旨在追踪宏观经济学国际最新进展，倡导构建符合国情的动态优化模型，并使用计算机模拟研究经济增长、收入分配和宏观政策等中国宏观经济重大问题。

联系人：陈小亮　　E_mail: chenxiaoliang2200@126.com

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