Federal Reserve Bank of New York Staff Reports Financial Intermediaries and Monetary Economics To bias Adrian Hyun SongShin Staff Reportno. 398 October 2009 Revised May2010 This paper presents preliminary findings and is being distributed to economists and other interested readers solely to ...
The Wharton Financial Institutions Center The Wharton Financial Institutions Center provides a multi-disciplinary research approach to the problems and opportunities facing the financial services industry in its search for competitive excellence.
FINANCIAL INTERMEDIARIES AS MARKETS FOR FIRM ASSETS* Luis Araujoand Raoul Minetti This article proposesatheory of financial intermediation based on intermediaries *role in the reallocation of assets of distressed firms.
The Existence of Financial Intermediaries The most basic question with regard to financial intermediaries is: why do they exist? This question is related to the theory of the firm because a financial intermediary is a firm, perhaps a special kind of firm, but nevertheless a firm.
Financial intermediaries, markets, and growth Falko Fecht Kevin Huang Antoine Marti n ⁄ February 2004 Abstract This paper contributes to the literature comparing the relative performance of financial intermediaries and markets by studying an environment in which a trade-o between risk sharing ...
Financial Intermediaries, Financial Stability and Monetary Policy * Tobias Adrian and Hyun Song Shin This version: August 5th 2008 Abstract : In a market-based financial system, banking and capital market developments are inseparable.
2 I. Introduction Perhaps the most powerful trend in today's financial world is the versatility and diversity of products, institutions, people and ideas present in the industry.
Financial Intermediation as Delegated Monitoring: A Simple Example DouglasW. Diamond B anksandother financial intermediaries are the main source of external funds to firms.
Risk and Market Segmentation in Financial Intermediaries' Returns Risk and Market Segmentation in Financial Intermediaries’ Returns
FINANCIAL INTERMEDIARIES AS MARKETS FOR FIRM ASSETS Luis Araujo and Raoul Minetti ∗ Abstract We propose a theory of financial intermediaries as internal markets for corporate