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Macroeconomic Evolution after a Production Shock: the Role for Financial Intermediation
Vinogradov, Dmitri V. - Alfred-Weber-Institut für Wirtschaftswissenschaften, … - 2006
economy and compares abilities of market-based and bank-based financial systems in processing the shock. Unregulated banking …
Persistent link: https://www.econbiz.de/10005150955
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Macroeconomic evolution after a shock: the role for financial intermediation
Vinogradov, Dmitri - EconWPA - 2003
An overlapping generations model with two production factors and two types of agents is considered in presence of …nancial intermediation. The research focuses at the analysis of the consequences of a suddain negative production shock on a …nancial intermediation capacities and consequently...
Persistent link: https://www.econbiz.de/10005126268
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Bank Competition and Financial Stability: A General Equilibrium Exposition
Nicolò, Gianni De; Lucchetta, Marcella - CESifo - 2013
failures. In this model, there is no trade-off between bank competition and financial stability. … mechanisms for bank risk-taking studied in a large partial equilibrium literature. We show that competitive equilibriums maximize … banks is higher than that of banks enjoying monopoly rents, and is robust to the introduction of social costs of bank …
Persistent link: https://www.econbiz.de/10010627559
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Balance of Payments and Determinacy.
Polemarchakis, H; Salto, M - Center for Operations Research and Econometrics (CORE), … - 1995
In economies of overlapping genenrations, competitive equilibrium allocations and interest rates may be indeterminate. In a world economy with multiple countries, a competitive equilibrium need not satisfy the condition that the balance of payments be in equilibrium. In a stationaryeconomy with...
Persistent link: https://www.econbiz.de/10005207649
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Imperfect Competition and General Equilibrium Elements for a New Approach.
D'Aspremont, C.; Dos Santos Ferreira, R.; Gerard-Varet, L.A. - Groupement de Recherche en Économie Quantitative … - 1996
The paper examines some issues linked to the integration of market power in general equilibrium. The first part reviews the different existing approaches: subjective and objective, in terms of quantities and in terms of prices. The second part presents a semi-competitive model, based on a sector...
Persistent link: https://www.econbiz.de/10005779667
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Competitive Equilibria with Asymmetric Information: Existence with Entry Fees.
Bisin, A.; Gottardi, P. - C.V. Starr Center for Applied Economics, Department of … - 1999
This paper studies competitive equilibria in economies characterized by the presence of asymmetric information, where non-exclusive contracts with payoffs dependent on the agents' private information are traded on competitive markets. For such economies competitive equilibria may not exist with...
Persistent link: https://www.econbiz.de/10005168655
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Existence and Uniqueness of the Competitive Equilibrium for Infinite Dimensional Economies.
Accinelli, E. - 1999
In this paper, from the excess utility function we obtain a binary relation in the social weights space and then, for an infinite dimensional economy, we prove the existence of equilibrium in our approach we don't suppose the existence of a demand function. Finally, we obtain a condition for the...
Persistent link: https://www.econbiz.de/10005487142
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Imperfect Competition and General Equilibrium Elements for a New Approach.
d'Aspremont, C; Santos Ferreira, R-D; Gerard-Varet, L-A - Association of Southern European Economic Theorists - ASSET - 1997
The paper examines some issues linked to the integration of market power in general equilibrium. The first part reviews the different existing approaches : subjective and objective, in terms of quantitites and in terms of prices. The second part presents a semi-competitive model, based on a...
Persistent link: https://www.econbiz.de/10005609608
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Some Consequences of the Unknottedness of the Walras Correspondence.
Demichelis, S.; Germano, F. - Center for Operations Research and Econometrics (CORE), … - 1999
Two basic properties concerning the dynamic behavior of competitive equilibria of exchange economies with complete markets are derived essentially from the fact that the Walras correspondence has no knots.
Persistent link: https://www.econbiz.de/10005634135
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Imperfect Competition and Firm Efficiency: a General Equilibrium Approach.
Pompermaier, A. - Fächergruppe Volkswirtschaftslehre, Helmut Schmidt … - 2000
This paper presenta a general equilibrium model of imperfect competition in which firm efficiency depends on the level … of product market competition. X-efficiency is shown to arise to the extent unions directly affect the level of … to be not necessarily increasing in the degree of competition and lower total employment may lead to higher output and …
Persistent link: https://www.econbiz.de/10005661012