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Financial intermediation and capital reallocation [PDF]
Journal of Financial Economics, 2020 We develop a general equilibrium framework to quantify the importance of intermediated capital reallocation in affecting macroeconomic fluctuations and asset returns. In our model, financial intermediaries intermediate capital reallocation between low productivity firms with excess capital and high productivity firms who need credit.
Hengjie Ai
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Financial Intermediation [PDF]
, 2003 The savings/investment process in capitalist economies is organized around financial intermediation, making them a central institution of economic growth. Financial intermediaries are firms that borrow from consumer/savers and lend to companies that need resources for investment.
Gary Gorton, Andrew Winton
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ON THE THEORY OF FINANCIAL INTERMEDIATION
The Journal of Finance, 1971THE ESSENTIAL CHARACTERISTIC of a financial intermediary is that it issues claims on itself and uses the proceeds to purchase other financial assets. The similarity between this process and the practices of commodity hedgers has been noted by Cootner [1].
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Liquidity Preference and Financial Intermediation
Review of Economic Studies, 1998zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Dutta, Jayasri, Kapur, Sandeep
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Financial Intermediation and Financial Accounts
1996This chapter describes broad-based developments in financial intermediation and the problems these developments have represented for aggregate financial accounts, and comments on the ability of the new System of National Accounts 1993 (SNA 1993) (United Nations, 1993) to deal with such problems.
Albert M. Teplin, John C. Dawson
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The Macroeconomics of Liquidity in Financial Intermediation
SSRN Electronic JournalIn financial crises, the premium on liquid assets such as US Treasuries increases alongside credit spreads. This paper explains the link between the liquidity premium and spreads. We present a theory of endogenous bank fragility arising from a coordination friction among bank creditors.
Porcellacchia, Davide, Sheedy, Kevin D.
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Financial intermediation and financial inclusion of the poor
International Journal of Ethics and Systems, 2018Drawing from the fact that institutions act as incentives and disincentives to human behaviour in financial markets, the purpose of this study is to examine the moderating role of institutional pillars in the relationship between financial intermediation and financial inclusion of the poor in rural Uganda.,The study used cross-sectional research design
George Okello Candiya Bongomin +3 more
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2012
This chapter deals with the mobility of capital. Romans made many investments in agriculture, cities, and roads, all of which are capital. They accumulated the needed capital with the help of Roman banks, which were remarkably similar to the first modern commercial banks in eighteenth-century London. In order to evaluate the sophistication of the Roman
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This chapter deals with the mobility of capital. Romans made many investments in agriculture, cities, and roads, all of which are capital. They accumulated the needed capital with the help of Roman banks, which were remarkably similar to the first modern commercial banks in eighteenth-century London. In order to evaluate the sophistication of the Roman
openaire +1 more source
Monetary Policy and Financial Intermediation
Journal of Money, Credit and Banking, 1994This paper develops a general equilibrium model of monetary nonneutrality that is a natural result of three basic assumptions: (1) financial intermediaries face reserve requirements on deposits, (2) financial intermediaries are the conduit for central bank monetary injections, and (3) monetary injections are not initially subject to reserve ...
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Financial Intermediation and Delegated Monitoring
The Review of Economic Studies, 1984Summary: This paper develops a theory of financial intermediation based on minimizing the cost of monitoring information which is useful for resolving incentive problems between borrowers and lenders. It presents a characterization of the costs of providing incentives for delegated monitoring by a financial intermediary.
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