; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Entrepreneurial Moral Hazard and Bank Monitoring: A Model of the Credit Channel"; ; "batchuser@example.com"; "Suarez, Javier", "Repullo, Rafael"; "Federal Reserve Bank of Minneapolis"; "E50 - Monetary Policy, Central Banking, and the Supply of Money and Credit: General", "D82 - Asymmetric and Private Information; Mechanism Design", "L26 - Entrepreneurship", "E44 - Financial Markets and the Macroeconomy"; "This paper develops a model of the choice between bank and market finance by entrepreneurial firms that differ in the value of their net worth. The monitoring associated with bank finance ameliorates a moral hazard problem between the entrepreneurs and their lenders. The model is used to analyze the different strands of the credit view of the transmission of monetary policy. In particular, we derive the empirical implications of a broad credit channel, and compare them to those obtained when the model is extended to incorporate some elements of the bank lending channel."^^; "1999-03-01"; "2019-05-21T16:22:47.573116292+00:00"^^; "https://doi.org/10.21034/dp.129"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "Wed Apr 22 16:38:55 2020"; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "649", "767"; "Discussion paper (Federal Reserve Bank of Minneapolis. Institute for Empirical Macroeconomics)"; "129"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Institute for Empirical Macroeconomics"; ; "Publication" . ; .