Recent Developments on Money and Finance: Exploring Links between Market Frictions, Financial Systems and Monetary Allocations - Couverture souple
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Synopsis
This book assembles current theoretical contributions to monetary theory, banking and finance. The papers published in this collection span a wide variety of themes, from monetary policy to the optimal design of financial systems, from the study of the causes of financial crises to payment systems design. Thereby, the book serves as a useful reference to all researchers interested in the study of financial systems and monetary economics. The papers contribute to two strands of literature: A first group of papers focuses on topics related to the optimality of financial mechanisms, banking regulation, financial crises, financial fragility, and payment systems. A second group of papers is broadly concerned with the efficiency of the decentralized monetary solution in economies characterized by equilibrium heterogeneity.
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Présentation de l'éditeur
This book assembles current theoretical contributions to monetary theory, banking and finance. The papers published in this collection span a wide variety of themes, from monetary policy to the optimal design of financial systems, from the study of the causes of financial crises to payment systems design. Thereby, the book serves as a useful reference to all researchers interested in the study of financial systems and monetary economics. The papers contribute to two strands of literature: A first group of papers focuses on topics related to the optimality of financial mechanisms, banking regulation, financial crises, financial fragility, and payment systems. A second group of papers is broadly concerned with the efficiency of the decentralized monetary solution in economies characterized by equilibrium heterogeneity.
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Recent Developments on Money and Finance: Exploring Links between Market Frictions, Financial Systems and Monetary Allocations (Studies in Economic Theory, 24)
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Recent Developments on Money and Finance
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Springer Berlin Heidelberg Feb 2010, 2010
ISBN 10 : 3642066178
ISBN 13 : 9783642066177
Neuf
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Taschenbuch. Etat : Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -nomic activity. The paper highlights how the interaction of domestic informational frictions, perfect capital mobility, and foreign interest rates can combine to provoke a sudden depreciation of the exchange rate and a prolonged decline in output. In particular,theauthorsdescribeconditionsunderwhichtwodifferentequilibriaexist. One has a high level of outputand a minorcostly-state-veri cationproblem,and the other equilibrium has a higher level of output and a severe costly-state-veri cation problem. In addition, the authors show how their model can successfully simulate a crisispaththatisqualitativelyconsistentwithoccurrencessuchastheMexican n- cial crisis in 1994. An importantlesson emergingfromthis work is that even a small change in external factors can generate a crisis path, when this initial shock hits a small open monetary economy, if the economy features a combination of domestic informational frictions with international capital ows. The next paper, by Hernandez-Verme, also focuses on the study of small open economieswithinthe contextofan overlappinggenerationsmodel. Unlike Antinol and Huybens, however, her main concern is the relative merits of different methods for achievingprice stability. To do so she mergesthe overlappinggenerationsmodel with a spatial model of Townsendto comparethe meritsof alternativeexchangerate regimes namely, xed and exible. This analysis is carried out within a context where nancial intermediaries perform a real allocative function, there are multiple reserverequirements,andtheeconomyissubjecttocreditmarketfrictions. She nds there is scope for endogenousvolatility, independent of the exchange rate regime in place. Another key nding is that under oating exchange rates, a positive trade-off between domestic in ation and output can be exploited under credit rationing but only if in ation is small. In fact, there exists an in ation threshold beyond which domestic output suffers. 280 pp. Englisch. N° de réf. du vendeur 9783642066177
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Recent Developments on Money and Finance
Edité par
Springer Berlin Heidelberg, 2010
ISBN 10 : 3642066178
ISBN 13 : 9783642066177
Neuf
Couverture souple
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Etat : New. Dieser Artikel ist ein Print on Demand Artikel und wird nach Ihrer Bestellung fuer Sie gedruckt. Recent developments on money and finance: an introduction.- Deposit Insurance and Bank Regulation in a Monetary Economy: A General Equilibrium Exposition.- A monetary mechanism for sharing capital: Diamond and Dybvig meet Kiyotaki and Wright.- Domestic fina. N° de réf. du vendeur 5045718
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Recent Developments on Money and Finance: Exploring Links between Market Frictions, Financial Systems and Monetary Allocations (Studies in Economic Theory, 24)
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Recent Developments on Money and Finance: Exploring Links between Market Frictions, Financial Systems and Monetary Allocations (Studies in Economic Theory)
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Recent Developments on Money and Finance | Exploring Links between Market Frictions, Financial Systems and Monetary Allocations
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Taschenbuch. Etat : Neu. Recent Developments on Money and Finance | Exploring Links between Market Frictions, Financial Systems and Monetary Allocations | Gabriele Camera | Taschenbuch | vi | Englisch | 2010 | Springer-Verlag GmbH | EAN 9783642066177 | Verantwortliche Person für die EU: Springer Verlag GmbH, Tiergartenstr. 17, 69121 Heidelberg, juergen[dot]hartmann[at]springer[dot]com | Anbieter: preigu. N° de réf. du vendeur 107220327
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Recent Developments on Money and Finance
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Springer Berlin Heidelberg, Springer Berlin Heidelberg Feb 2010, 2010
ISBN 10 : 3642066178
ISBN 13 : 9783642066177
Neuf
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Taschenbuch. Etat : Neu. Neuware -domestic in ation and output can be exploited under credit rationing but only if in ation is small. In fact, there exists an in ation threshold beyond which domestic output suffers.Springer Verlag GmbH, Tiergartenstr. 17, 69121 Heidelberg 280 pp. Englisch. N° de réf. du vendeur 9783642066177
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Recent Developments on Money and Finance : Exploring Links between Market Frictions, Financial Systems and Monetary Allocations
Edité par
Springer Berlin Heidelberg, 2010
ISBN 10 : 3642066178
ISBN 13 : 9783642066177
Neuf
Taschenbuch
Vendeur : AHA-BUCH GmbH, Einbeck, Allemagne
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Taschenbuch. Etat : Neu. Druck auf Anfrage Neuware - Printed after ordering - nomic activity. The paper highlights how the interaction of domestic informational frictions, perfect capital mobility, and foreign interest rates can combine to provoke a sudden depreciation of the exchange rate and a prolonged decline in output. In particular,theauthorsdescribeconditionsunderwhichtwodifferentequilibriaexist. One has a high level of outputand a minorcostly-state-veri cationproblem,and the other equilibrium has a higher level of output and a severe costly-state-veri cation problem. In addition, the authors show how their model can successfully simulate a crisispaththatisqualitativelyconsistentwithoccurrencessuchastheMexican n- cial crisis in 1994. An importantlesson emergingfromthis work is that even a small change in external factors can generate a crisis path, when this initial shock hits a small open monetary economy, if the economy features a combination of domestic informational frictions with international capital ows. The next paper, by Hernandez-Verme, also focuses on the study of small open economieswithinthe contextofan overlappinggenerationsmodel. Unlike Antinol and Huybens, however, her main concern is the relative merits of different methods for achievingprice stability. To do so she mergesthe overlappinggenerationsmodel with a spatial model of Townsendto comparethe meritsof alternativeexchangerate regimes namely, xed and exible. This analysis is carried out within a context where nancial intermediaries perform a real allocative function, there are multiple reserverequirements,andtheeconomyissubjecttocreditmarketfrictions. She nds there is scope for endogenousvolatility, independent of the exchange rate regime in place. Another key nding is that under oating exchange rates, a positive trade-off between domestic in ation and output can be exploited under credit rationing but only if in ation is small. In fact, there exists an in ation threshold beyond which domestic output suffers. N° de réf. du vendeur 9783642066177
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