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Shadow Banking, Relationship Banking, and the Economics of Depression

Bianco, Antonio - 2018

developed here suggests that securitisation does not per se affect the financial sustainability of the growth process, but …

Persistent link: https://www.econbiz.de/10012930485

Inefficiency and Regulation of Private Liquidity

Benigno, Pierpaolo - 2019

We propose a simple model to study the efficiency of private liquidity creation by financial intermediaries. Liquidity is provided by both safe and risky debt, and liquidity crises arise when risky debt is defaulted on and stops providing liquidity services. Because of a novel externality...

Persistent link: https://www.econbiz.de/10012889838

Demand for Crash Insurance, Intermediary Constraints, and Risk Premia in Financial Markets

Chen, Hui - 2019

We propose a new measure of financial intermediary constraints based on how the intermediaries manage their tail risk exposures. Using a unique dataset for the trading activities in the market of deep out-of-the-money S&P 500 put options, we identify periods when the variations in the net amount...

Persistent link: https://www.econbiz.de/10012905688

Financial Intermediation, Leverage, and Macroeconomic Instability

Phelan, Gregory - 2016

This paper investigates how financial-sector leverage affects macroeconomic instability and welfare. In the model, banks borrow (use leverage) to allocate resources to productive projects and provide liquidity. When banks do not actively issue new equity, aggregate outcomes depend on the level...

Persistent link: https://www.econbiz.de/10012983289

Banks, Growth and Geography

Singh, Raju - 2009

This paper presents a general equilibrium endogenous growth model, in which financial intermediaries evaluate the … being financed, and thereby accelerates economic growth. This positive effect does not depend on the degree of individuals …

Persistent link: https://www.econbiz.de/10013156010

Distress in the Financial Sector and Economic Activity

Carlson, Mark A. - 2010

This paper explores the relationship between the health of the financial sector and the rest of the economy. We develop an indicator of financial sector health using a distance-to-default measure based on a Merton-style option pricing model. Our measure spans over three decades and appears to...

Persistent link: https://www.econbiz.de/10013136451

Cutting out the Middleman: Crowdinvesting, Efficiency, and Inequality

Grüner, Hans Peter; Siemroth, Christoph - C.E.P.R. Discussion Papers - 2015

We show that direct investments by consumers without the use of financial intermediaries can efficiently allocate financial capital to firms seeking funding for production of a novel consumption good. In our setting, consumers are also investors, and their privately known consumption preferences...

Persistent link: https://www.econbiz.de/10011201361

Non-bank financial intermediation in Canada : an update

Bédard-Pagé, Guillaume - 2019

Non-bank financing provides an important funding source for the economy and is a valuable alternative to traditional banking. It helps enhance the efficiency and resiliency of the financial system while giving customers more choices for their financial services. Unlike banking, it is not...

Persistent link: https://www.econbiz.de/10011986738

Does finance matter for growth? what the data show

Sarkar, Prabirjit - Volkswirtschaftliche Fakultät, … - 2011

private sector relative to GDP) and growth for a sample of 65 less developed countries over a long period, 1980-2006. Using …, the pooled mean group model and dynamic fixed effect model show two opposite long-term relationships: finance-to-growth … relationship is negative whereas growth-to-finance link is positive. …

Persistent link: https://www.econbiz.de/10009277852

Impact of Khartoum Stock Exchange market performance on economic growth: An autoregressive distributed lag ARDL bounds testing model

Elhassan, Tomader; Braima, Bakhita - In: Economies 8 (2020) 4, pp. 1-16

This study examines the impact of the Khartoum Stock Exchange market performance on economic growth in Sudan from Q1 … performance on economic growth. The results show that the Khartoum Stock Exchange market performance has a limited impact on … economic growth. The results of the ARDL test reveal that the speed of adjustment towards long-run equilibrium after a short …

Persistent link: https://www.econbiz.de/10013199715