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Central Banks and the Financial System
Giavazzi, Francesco - 2010
Financial systems are inherently fragile because of the very function which makes them valuable: liquidity transformation. Regulatory reforms can strengthen the financial system and decrease the risk of liquidity crises, but they cannot eliminate it completely. This leaves monetary policy with a...
Persistent link: https://www.econbiz.de/10012462427
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Bank-Based or Market-Based Financial Systems : Which is Better?
Levine, Ross - 2002
For over a century, economists and policy makers have debated the relative merits of bank-based versus market …-based financial systems. Recent research, however, argues that classifying countries as bank-based or market is not a very fruitful … robustly linked with economic growth, there is no support for either the bank-based or market-based view …
Persistent link: https://www.econbiz.de/10012469571
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Financial development and growth in the short and long run
Fisman, Raymond - 2004
"We analyze the relationship between financial development and inter-industry resource allocation in the short- and long-run. We suggest that in the long-run, economies with high rates of financial development will devote relatively more resources to industries with a 'natural' reliance on...
Persistent link: https://www.econbiz.de/10010523015
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Finance and Growth : Theory and Evidence
Levine, Ross - 2004
is not driving this relationship. Furthermore, theory and evidence imply that better developed financial systems ease …
Persistent link: https://www.econbiz.de/10012467924
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Financial Development and Growth in the Short and Long Run
Fisman, Raymond - 2004
We analyze the relationship between financial development and inter-industry resource allocation in the short- and long-run. We suggest that in the long-run, economies with high rates of financial development will devote relatively more resources to industries with a 'natural' reliance on...
Persistent link: https://www.econbiz.de/10012468457
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Financial Intermediation and Aggregate Fluctuations : A Quantative Analysis
Cooper, Russell - 1994
This paper investigates the quantitative implications of two business cycle models in which aggregate fluctuations arise in response to variations in the process of financial intermediation. In the first, fundamental shocks in the capital accumulation process lead to fluctuations in the real...
Persistent link: https://www.econbiz.de/10012474096
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Financial Repression and Capital Mobility : Why Capital Flows and Covered Interest Rate Differentials Fail to Measure Capital Market Integration
Dooley, Michael P. - 1995
discourage and sterilize international capital flows. In this paper we utilize an open economy macro model incorporating bank …
Persistent link: https://www.econbiz.de/10012473522
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Intermediary Asset Pricing
He, Zhiguo - 2008
effectiveness of a variety of central bank policies, including reducing intermediaries' borrowing costs, infusing equity capital …
Persistent link: https://www.econbiz.de/10012464130
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Intermediary Asset Pricing and the Financial Crisis
He, Zhiguo - 2018
growing areas of research in finance. This article explains the theory behind intermediary asset pricing and in particular how …
Persistent link: https://www.econbiz.de/10012453299
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Unstable Banking
Shleifer, Andrei - 2009
. Banks maximize profits, and there are no conflicts of interest between bank shareholders and creditors. The theory explains …We propose a theory of financial intermediaries operating in markets influenced by investor sentiment. In our model …
Persistent link: https://www.econbiz.de/10012463705