Motivation, background and problem statement: Fixed and mobile broadband substitutability has recently been a debate in the telecom industry as the issue affects infrastructure investment decisions of service providers and service obligation regulation decision of telecom authorities. Previous...

We demonstrate that the co-existence of different motives for liquidity preferences profoundly affects the efficiency of financial intermediation. Liquidity preferences arise because consumers wish to take precautions against sudden and unforeseen expenditure needs, and because investors want to...