The field of librarianship has undergone traumatic shifts (mostly downward) due to the global financial meltdown that began in the fall of 2008. Libraries have been deeply affected by the worst recession since the Great Depression. While "Advances in Librarianship" endeavors to identify trends...

This paper studies implications of intermediation costs in credit markets. The presence of intermediation costs increases the amount of risky projects therefore results in financial fragility. Moreover, for an open economy that has a perfectly liberal capital account, prudent firms finance their...