Gersbach, Hans; Uhlig, Harald - 2006
, Germany, gersbach@uni-hd.de, and
Harald Uhlig, Humboldt University, Berlin, Unter den Linden 6, D-10099 Berlin, Germany … standard banks and financial markets
coexist, social efficiency is always lower compared to a situation where only
standard … in terms of (m,α) are
not highly effective.
To determine the social efficiency of the presence of financial markets, we …
