现代产业经济学系列讲座第241期
时 间：2023年5月16日（周二）15:30-17:00
地 点：史带楼802室
题 目：A Model of Supply Chain Finance
主讲人：胡博 助理教授 复旦经院
主持人：从佳佳 副教授
摘 要：
This article presents a model where a middleman utilizes a supply chain finance (SCF) program to select and finance suppliers. The program pools liquidity and offers immediate payment to the participating suppliers with pressing liquidity needs. We show that the middleman optimizes the selection by not only choosing profitable suppliers but also suppliers with negative profitability but can contribute to the liquidity pool. Inserting the model into an otherwise standard monetary framework, we show that with higher nominal interest rates, the SCF program emphasizes the liquidity contribution more and the profitability contribution less. Given the suppliers' liquidity shocks, deviating from the Friedman rule, where only suppliers with positive profitability are selected, may lead to welfare gains.
讲座人简介：
Hu Bo is currently an Assistant Professor at the School of Economics at Fudan University. He obtained his Ph.D. from VU Universiteit Amsterdam and the Tinbergen Institute in 2019. His research interests include search economics, payment, intermediaries, and applied economic theory in general. He has published his work in leading economic journals such as the Rand Journal of Economics and the Economic Research Journal (Chinese). He has also led projects funded by the National Natural Science Foundation and the Shanghai Pujiang Talent Program.
应用经济学系
2023-5-11
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