An Explanation Of Credit Rationing Based Upon The Theory Of Implicit Contracts

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An Explanation Of Credit Rationing Based Upon The Theory Of Implicit Contracts

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Author : Joel Fried
language : en
Publisher: London, Ont. : Department of Economics, University of Western Ontario
Release Date : 1979

An Explanation Of Credit Rationing Based Upon The Theory Of Implicit Contracts written by Joel Fried and has been published by London, Ont. : Department of Economics, University of Western Ontario this book supported file pdf, txt, epub, kindle and other format this book has been release on 1979 with Bank loans categories.

Rationing In A Theory Of The Banking Firm

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Author : Timothy M. Devinney
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06

Rationing In A Theory Of The Banking Firm written by Timothy M. Devinney and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Science categories.

The existence of non-price rationing in credit markets is a subj ect, not only of paramount importance, but of considerable controversy, which is ultimately linked with our understanding, or lack thereof, of the basic nature of the banking firm. A recognition of this phenomenon is critical to the understanding of the banking firm in its major role as a financial intermediary. The banking firm serves as an intermediary in two important spheres, between borrower and lender, and between spenders and the monetary authorities. The basic economic formulation of borrower-lender behavior, the simple Fisherian consumption loan model, while beautiful in its simplicity, fail s to acknowledge any role for a non-neutral financial intermediary. The bank, in its second intermediary role, leads one to question the assumption of both neoclassical and Keynsian monetary theories that monetary changes are diffused across the economy (the proverbial monetary helicopter). Monetary policy effects on spending and investment will clearly be biased by the policies of the banks. The major focus of the present work is the development of a theory of credit rationing based upon the existence of risk reducing information technologies. Implicit in the analysis is a discussion of the role of the banking firm as something more than a tr·aditional financial intermediary. The present analysis will focus on the bank as an intermediary between borrower and lender. It will be shown that in .

Credit Rationing Implicit Contracts Risk Aversion The Variability Of Interest Rates

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Author : Nilss Olekalns
language : en
Publisher:
Release Date : 1990

Credit Rationing Implicit Contracts Risk Aversion The Variability Of Interest Rates written by Nilss Olekalns and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Bank loans categories.

Microeconomics Of Banking Second Edition

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Author : Xavier Freixas
language : en
Publisher: MIT Press
Release Date : 2008-03-14

Microeconomics Of Banking Second Edition written by Xavier Freixas and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-03-14 with Business & Economics categories.

The second edition of an essential text on the microeconomic foundations of banking surveys the latest research in banking theory, with new material that covers recent developments in the field. Over the last thirty years, a new paradigm in banking theory has overturned economists' traditional vision of the banking sector. The asymmetric information model, extremely powerful in many areas of economic theory, has proven useful in banking theory both for explaining the role of banks in the economy and for pointing out structural weaknesses in the banking sector that may justify government intervention. In the past, banking courses in most doctoral programs in economics, business, or finance focused either on management or monetary issues and their macroeconomic consequences; a microeconomic theory of banking did not exist because the Arrow-Debreu general equilibrium model of complete contingent markets (the standard reference at the time) was unable to explain the role of banks in the economy. This text provides students with a guide to the microeconomic theory of banking that has emerged since then, examining the main issues and offering the necessary tools for understanding how they have been modeled. This second edition covers the recent dramatic developments in academic research on the microeconomics of banking, with a focus on four important topics: the theory of two-sided markets and its implications for the payment card industry; “non-price competition” and its effect on the competition-stability tradeoff and the entry of new banks; the transmission of monetary policy and the effect on the functioning of the credit market of capital requirements for banks; and the theoretical foundations of banking regulation, which have been clarified, although recent developments in risk modeling have not yet led to a significant parallel development of economic modeling. Praise for the first edition: "The book is a major contribution to the literature on the theory of banking and intermediation. It brings together and synthesizes a broad range of material in an accessible way. I recommend it to all serious scholars and students of the subject. The authors are to be congratulated on a superb achievement."—Franklin Allen, Nippon Life Professor of Finance and Economics, Wharton School, University of Pennsylvania "This book provides the first comprehensive treatment of the microeconomics of banking. It gives an impressive synthesis of an enormous body of research developed over the last twenty years. It is clearly written and apleasure to read. What I found particularly useful is the great effort that Xavier Freixas and Jean-Charles Rochet have taken to systematically integrate the theory of financial intermediation into classical microeconomics and finance theory. This book is likely to become essential reading for all graduate students in economics, business, and finance."—Patrick Bolton, Barbara and David Zalaznick Professor of Business, Columbia University Graduate School of Business "The authors have provided an extremely thorough and up-to-date survey of microeconomic theories of financial intermediation. This work manages to be both rigorous and pleasant to read. Such a book was long overdue and shouldbe required reading for anybody interested in the economics of banking and finance."—Mathias Dewatripont, Professor of Economics, ECARES, Universit

Economic Review

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Author :
language : en
Publisher:
Release Date : 1986

Economic Review written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Federal Reserve banks categories.

National Union Catalog

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Author :
language : en
Publisher:
Release Date : 1981

National Union Catalog written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1981 with Catalogs, Union categories.

Includes entries for maps and atlases.

The Economics Of Entrepreneurship

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Author : Simon C. Parker
language : en
Publisher: Cambridge University Press
Release Date : 2009-11-12

The Economics Of Entrepreneurship written by Simon C. Parker and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-11-12 with Business & Economics categories.

A theoretical and empirical investigation of how economics can contribute to our understanding of entrepreneurship.

Canadiana

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Author :
language : en
Publisher:
Release Date : 1987

Canadiana written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1987 with Canada categories.

The Japanese Economy

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Author : Peter Drysdale
language : en
Publisher: Taylor & Francis
Release Date : 1998

The Japanese Economy written by Peter Drysdale and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Business & Economics categories.

Allocation Information And Markets

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Author : John Eatwell
language : en
Publisher: Springer
Release Date : 1989-09-21

Allocation Information And Markets written by John Eatwell and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989-09-21 with Business & Economics categories.

This is an extract from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. This volume concentrates on the topic of allocation information and markets.