【ECON20181205】  
 
      宏观经济学研讨会          （总第240期）      
 
      【时间】2018年4月18日（周三）12：15－13：45          【地点】明商0202教室          【主讲】韩少华 中国人民大学经济学院          【主题】Credit-Induced Boom and Bust（Marco Di Maggio & Amir Kermani, Review of Financial Studies, 2017）          【点评】郭豫媚 中央财经大学金融学院讲师          
         【摘要】This paper exploits the federal preemption of national banks in 2004 from local laws against predatory lending to gauge the effect of the supply of credit on the real economy. First, the preemption regulation resulted in an 11% increase in annual lending in the 2004–2006 period, which is associated with a 3.3% rise in annual house price growth rate and a 2.2% expansion of employment in nontradable sectors. This was followed by a sharp decline in subsequent years. Furthermore, we show that the increase in the supply of credit reduced delinquencies during boom years, but increased them in bust years.          
         【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：刘哲希    Email：Macro_Workshop@163.com          资料下载：www.docin.com/mydoc-88265459-1.html          更多讲座信息请访问：econ.ruc.edu.cn，www.yanjiuyuan.com.cn。      
 
      中国人民大学经济学院