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Banks as coordinators of economic growth and stability : microfoundation for macroeconomy with externality
Ueda, Kenichi - In: Journal of economic theory 148 (2013) 1, pp. 322-352
Persistent link: https://www.econbiz.de/10009723621
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Banks as Coordinators of Economic Growth and Stability : Microfoundation for Macroeconomy with Externality
Ueda, Kenichi - 2012
Competition among banks promotes growth and stability for an economy with production externality. Following Arrow and Debreu (1954), I formulate a standard growth model with externality — a two-period version of Romer (1986) — as a game among consumers, firms, and intermediaries. The...
Persistent link: https://www.econbiz.de/10013116440
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Banks as Coordinators of Economic Growth.
Ueda, Kenichi - 2006
Intro -- Contents -- I. INTRODUCTION -- II. MODEL SETTING AND CHARACTERISTICS -- III. UNIQUE EQUILIBRIUM CANDIDATE WITH STRATEGIC INTERMEDIATION -- IV. EXISTENCE OF AN EQUILIBRIUM WITH FREE RECONTRACTING OPPORTUNITY -- V. DISCUSSION -- VI. CONCLUDING REMARKS -- REFERENCES -- APPENDIX I. PROOFS...
Persistent link: https://www.econbiz.de/10012691170
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Banks As Coordinators of Economic Growth
Ueda, Kenichi - 2006
quantity, banks control firms'' investments. Each bank forms a firm group endogenously and internalizes externalities directly …This paper formally identifies an important role of banks: Banks competitively internalize production externalities and … facilitate economic growth. I formulate a canonical growth model with externalities as a game among consumers, firms, and banks …
Persistent link: https://www.econbiz.de/10014399670
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Liquidity, innovation and growth
Berentsen, Aleksander; Rojas Breu, Mariana; Shi, Shouyong - 2009
Persistent link: https://www.econbiz.de/10003942214
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Liquidity, innovation and growth
Berentsen, Aleksander; Rojas Breu, Mariana; Shi, Shouyong - In: Journal of monetary economics 59 (2012) 8, pp. 721-737
Persistent link: https://www.econbiz.de/10009702394
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Liquidity, Innovation and Growth
Berentsen, Aleksander - 2012
Many countries simultaneously suffer from high inflation, low growth and poorly developed financial sectors. In this paper, we integrate a microfounded model of money and finance into a model of endogenous growth to examine the effects of inflation on welfare, growth and the size of the...
Persistent link: https://www.econbiz.de/10013116769
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Financiers vs. engineers : should the financial sector be taxed or subsidized?
Philippon, Thomas - 2007
Persistent link: https://www.econbiz.de/10003588001
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Financiers vs. Engineers : Should the Financial Sector be Taxed or Subsidized?
Philippon, Thomas - 2007
I study the allocation of human capital in an economy with production externalities, financial constraints and career … choices. Agents choose to become entrepreneurs, workers or financiers. Entrepreneurship has positive externalities, but …
Persistent link: https://www.econbiz.de/10012465087
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Micro-foundations of external economies
Markusen, James R. - In: The Canadian journal of economics 23 (1990) 3, pp. 495-508
Persistent link: https://www.econbiz.de/10001123990