أعرض تسجيلة المادة بشكل مبسط

dc.creator Fecht, Falko
dc.creator Huang, Kevin
dc.creator Martin, Antoine
dc.date 2005
dc.date.accessioned 2013-10-16T07:05:22Z
dc.date.available 2013-10-16T07:05:22Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/19511
dc.identifier ppn:483236489
dc.identifier RePEc:zbw:bubdp1:2937
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/19511
dc.description We build a model in which financial intermediaries provide insurance to households against a liquidity shock. Households can also invest directly on a financial market if they pay a cost. In equilibrium, the ability of intermediaries to share risk is constrained by the market. This can be beneficial because intermediaries invest less in the productive technology when they provide more risk-sharing. Our model predicts that bank-oriented economies should grow slower than more market-oriented economies, which is consistent with some recent empirical evidence. We show that the mix of intermediaries and market that maximizes welfare under a given level of financial development depends on economic fundamentals. We also show the optimal mix of two structurally very similar economies can be very different.
dc.language eng
dc.relation Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2005,03
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject E44
dc.subject G20
dc.subject G10
dc.subject ddc:330
dc.subject Financial Intermediaries
dc.subject Risk Sharing
dc.subject Finance and Growth
dc.subject Comparing Financial Systems
dc.subject Finanzintermediär
dc.subject Finanzmarkt
dc.subject Investition
dc.subject Allokation
dc.subject Wirtschaftswachstum
dc.subject Overlapping Generations
dc.title Financial intermediaries, markets and growth
dc.type doc-type:workingPaper


الملفات في هذه المادة

الملفات الحجم الصيغة عرض

لا توجد أي ملفات مرتبطة بهذه المادة.

هذه المادة تبدو في المجموعات التالية:

أعرض تسجيلة المادة بشكل مبسط