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Macroeconomic Evolution after a Production Shock: the Role for Financial Intermediation

Vinogradov, Dmitri V. - 2006

Financial intermediaries may increase economic efficiency through intertemporal risk smoothing. However without an adequate regulation, intermediation may fail to do this. This paper studies the effects of a production shock in a closed economy and compares abilities of market-based and...

Persistent link: https://www.econbiz.de/10011422146

Fiscal Deficits, Financial Fragility, and the Effectiveness of Government Policies

Kirchner, Markus; van Wijnbergen, Sweder - 2012

Recent macro developments in the euro area have highlighted the interactions between fiscal policy, sovereign debt, and financial fragility. We take a structural macroeconomic model with frictions in the financial intermediation process, in line with recent research, but introduce asset choice...

Persistent link: https://www.econbiz.de/10010326246

Financial Development, Economic Growth and Corporate Governance

Winkler, Adalbert - 1998

development. The second part of the paper seeks to identify the determinants of financial development based on Diamond's theory of …

Persistent link: https://www.econbiz.de/10010330134

The Shadow Banking System - Survey and Typological Framework

Poschmann, Jenny - 2012

Even though the sector of Non-bank financial intermediaries (NBFI) or shadow banks represent a large part of the contemporary financial system, these institutions received almost no attention in macroeconomic studies so far. Their presence has significant influence on the conduct of monetary...

Persistent link: https://www.econbiz.de/10010334475

The Theory of Financial Intermediation: An Essay On What It Does (Not) Explain

Scholtens, Bert; van Wensveen, Dick - 2003

This essay reflects upon the relationship between the current theory of financial intermediation and real …-world practice. Our critical analysis of this theory leads to several building blocks of a new theory of financial intermediation …. Current financial intermediation theory builds on the notion that intermediaries serve to reduce transaction costs and …

Persistent link: https://www.econbiz.de/10011689907

Banking with Contingent Contracts, Macroeconomic Risks, and Banking Crises

Gersbach, Hans - 2008

We examine banking competition when deposit or loan contracts contingent on macroeconomic shocks become feasible. We show that the risk allocation is efficient, provided that banks are not bailed out. In this case, banks may shift part of the risk to depositors. The private sector insures the...

Persistent link: https://www.econbiz.de/10011753157

Deposit Insurance in General Equilibrium

Gersbach, Hans; Britz, Volker; Haller, Hans - 2016

We study the consequences and optimal design of bank deposit insurance in a general equilibrium model. The model involves two production sectors. One sector is financed by issuing bonds to risk-averse households. Firms in the other sector are monitored and financed by banks. Households fund...

Persistent link: https://www.econbiz.de/10011753322

A macroeconomic framework for quantifying systemic risk

He, Zhiguo; Krishnamurthy, Arvind - 2012

Systemic risk arises when shocks lead to states where a disruption in financial intermediation adversely affects the economy and feeds back into further disrupting financial intermediation. We present a macroeconomic model with a financial intermediary sector subject to an equity capital...

Persistent link: https://www.econbiz.de/10011506753

Optimal Firm Size, Taxes, and Lay-offs

Burdett, Kenneth - 1987

Persistent link: https://www.econbiz.de/10010335156

Rural Financial Markets in Developing Countries

Conning, Jonathan; Udry, Christopher - 2005

This review examines portions of the vast literature on rural financial markets and household behavior in the face of risk and uncertainty. We place particular emphasis on studying the important role of financial intermediaries, competition and regulation in shaping the changing structure and...

Persistent link: https://www.econbiz.de/10010369143

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