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The measurement of financial intermediation in Japan

Capelle-Blancard, Gunther; Couppey-Soubeyran, Jézabel; … - HAL - 2005

In this paper, we compute financial intermediation ratios for Japan (1970-2003) on a book value basis. According to our results, the intermediation ratio has remained quite stable, at around 85%. However, this stability is the result of two opposing trends : a decrease in credits and an increase...

Persistent link: https://www.econbiz.de/10010750624

The measurement of financial intermediation in Japan

Capelle-Blancard, Gunther; Couppey-Soubeyran, Jézabel; … - HAL - 2008

In this paper, we examine the evolution of the Japanese financial structure, in order to challenge the expected incidences of the financial liberalization. We compute financial intermediation ratios for Japan (1979-2004) on a book value basis. According to our results, the intermediation ratio...

Persistent link: https://www.econbiz.de/10010750735

Schumpeter on money, banking and finance: An institutionalist perspective

Festré, Agnès; Nasica, Eric - HAL - 2009

In this paper, we provide an institutional interpretation of Schumpeter's analysis of money, banking and finance. This interpretation is founded on an overall investigation into Schumpeter's writings addressing those issues from different perspectives.In section 1, we discuss the widespread...

Persistent link: https://www.econbiz.de/10008788989

Paving the way for reconsidering the working of market economies: the Minsky perspective

Ülgen, Faruk - HAL - 2012

This essay develops the financial instability hypothesis of Hyman Minsky through an analysis of the pitfalls of the liberal regulatory framework in order to deal with long-standing and long-lasting financial issues of capitalist economies. It argues that the roots of the 2007/08 crisis are...

Persistent link: https://www.econbiz.de/10010899268

Unemployment and finance: how do financial and labour market factors interact?

Gatti, Donatella; Vaubourg, Anne-Gaël - HAL - 2009

Using data for 18 OECD countries over the period 1980-2004, we investigate how labour and financial factors interact to determine unemployment. We show that the impact of financial variables depends strongly on the labour market context. Increased market capitalization as well as decreased...

Persistent link: https://www.econbiz.de/10010930162

Optimal Preventive Bank Supervision: Combining Random Audits and Continuous Intervention

Belhaj, Mohamed; Klimenko, Nataliya - HAL - 2012

Early regulator interventions into problem banks is one of the key suggestions of Basel II. However, no guidance is given on their design. To fill this gap, we outline an incentive-based preventive supervision strategy that eliminates bad asset management in banks. Two supervision techniques are...

Persistent link: https://www.econbiz.de/10010933829

Welfare, Competition, Specialization and Growth

Onori, Daria - HAL - 2011

In this paper we consider a simple model of horizontal differentiation and derive the closed form solutions for the level of the variables in the decentralized economy and in the social planner case. This enables us to analyze consumers' welfare as a function of the parameter representing market...

Persistent link: https://www.econbiz.de/10008877006

Hidden Information, Bargaining Power, And Efficiency: An Experiment

Cabrales, Antonio; Charness, Gary; Villeval, Marie-Claire - HAL - 2011

number of agents because competition reduces the agents' informational monopoly power. However, this environment also … tendency to choose more 'generous' (and more efficient) contract menus over time. We find that competition leads to a … substantially higher probability of trade, and that, overall, competition between agents generates the most efficient outcomes. …

Persistent link: https://www.econbiz.de/10009220690

Competition, Innovation and Distance to Frontier

Amable, Bruno; Demmou, Lilas; Ledezma, Ivan - HAL - 2008

According to a recent literature, the positive effect of competition is supposed to be growing with the proximity to … the technological frontier. Using a variety of indicators, the paper tests the effect of competition and regulation on … 1979-2003. Results show no evidence of a positive effect of competition growing with the proximity to the frontier. Two …

Persistent link: https://www.econbiz.de/10010738552

Competition, R&D and the cost of innovation

Askenazy, Philippe; Cahn, Christophe; Irac, Delphine - HAL - 2008

competition on R&D to the cost of innovation. The effect of competition on R&D is an inverted U-shape. However, the shape is … flatter and competition policy is therefore less relevant for innovation when innovations are relatively costly. Intuitively …

Persistent link: https://www.econbiz.de/10010738755