Liquidity Preference, Costly State Verification, and Optimal Financial Intermediation PDF Download

Author: Anne Patricia Villamil
Publisher:
ISBN:
Category :
Languages : en
Pages : 40

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Author: George M. Constantinides
Publisher: Newnes
ISBN: 0444535950
Category : Business & Economics
Languages : en
Pages : 859

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Book Description
In the 11 articles in this first of two parts, top scholars summarize and analyze recent scholarship in corporate finance. Covering subjects from corporate taxes to behavioral corporate finance and econometric issues, their articles reveal how specializations resonate with each other and indicate likely directions for future research. By including both established and emerging topics, Volume 2 will have the same long shelf life and high citations that characterize Volume 1 (2003). - Presents coherent summaries of major finance fields, marking important advances and revisions - Describes the best corporate finance research created about the 2008 financial crises - Exposes readers to a wide range of subjects described and analyzed by the best scholars

Author: Nikolaos Koutroulis
Publisher:
ISBN:
Category :
Languages : en
Pages : 116

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Author: George M. Constantinides
Publisher: Newnes
ISBN: 0444594655
Category : Business & Economics
Languages : en
Pages : 1732

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Book Description
This two-volume set of 23 articles authoritatively describes recent scholarship in corporate finance and asset pricing. Volume 1 concentrates on corporate finance, encompassing topics such as financial innovation and securitization, dynamic security design, and family firms. Volume 2 focuses on asset pricing with articles on market liquidity, credit derivatives, and asset pricing theory, among others. Both volumes present scholarship about the 2008 financial crisis in contexts that highlight both continuity and divergence in research. For those who seek insightful perspectives and important details, they demonstrate how corporate finance studies have interpreted recent events and incorporated their lessons. - Covers core and newly-developing fields - Explains how the 2008 financial crises affected theoretical and empirical research - Exposes readers to a wide range of subjects described and analyzed by the best scholars

Author: Peter Hammond
Publisher: OUP Oxford
ISBN: 0191590134
Category : Business & Economics
Languages : en
Pages : 370

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Book Description
This collection celebrates the career of Sir James Mirrlees, who received the 1996 Nobel Prize in Economics for his work on income taxation and its extension to information and incentive problems. His contributions have proved fundamental to the development of a wide range of areas in economics. The 17 papers contained in this volume focus on themes that are representative of Mirrlees' work, including the economics of information, welfare, taxation, project appraisal, and industrial organization. All the contributors have spent time working closely with Mirrlees - either as his co-author or his student - and all are recognized authorities in their fields. The significant new contributions that this collection offers will have wide-ranging appeal, and should prove particularly interesting to scholars working in the areas of microeconomics, microeconomic theory, mathematical economics, and welfare economics.

Author: B. Hillier
Publisher: Bloomsbury Publishing
ISBN: 1349254851
Category : Business & Economics
Languages : en
Pages : 199

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Book Description
This book presents recent developments in the economics of asymmetric information. The problems of selection and moral hazard, with hidden actions or hidden information, are introduced by examining how they affect the market for investment finance. The ideas are then used to analyse the market for insurance, signalling and screening models of education, efficiency wages, industrial regulation, public procurement and auctions. Coverage is thorough while avoiding excessive mathematical detail. Diagrams and verbal reasoning make the ideas accessible to intermediate level undergraduate students and beyond.

Author: Robert M. Townsend
Publisher: MIT Press
ISBN: 026253987X
Category : Business & Economics
Languages : en
Pages : 241

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Book Description
An economic analysis of what distributed ledgers can do, examining key components and discussing applications in both developed and emerging market economies. Distributed ledger technology (DLT) has the potential to transform economic organization and financial structures. In this book, Robert Townsend steps back from the hype and controversy surrounding DLT (and the related, but not synonymous, innovations of blockchain and Bitcoin) to offer an economic analysis of what distributed ledgers can do and a blueprint for the optimal design and regulation of financial systems. Townsend examines the key components of distributed ledgers, discussing, evaluating, and illustrating each in the context of historical and contemporary economies, reviewing featured applications in both developed economies and emerging-market countries, and indicating where future innovations can have large impact. Throughout, Townsend emphasizes the general equilibrium impact of DLT innovations, the welfare gains from these innovations, and related regulatory innovations. He analyzes four crucial components of distributed ledgers—ledgers as accounts, e-messages and e-value transfers, cryptography, and contracts—assesses each in terms of both economics and computer science, and forges some middle ground. Relatedly, Townsend highlights hybrid systems in which some of these components allow useful innovation while legacy or alternative pieces deal with the problem of scale. The specific applications he analyzes include an intelligent financial automated system that provides financial services to unbanked and under-banked populations, and cross-border payments systems, including financial systems that can integrate credit and insurance with clearing and settlement. Finally, Townsend considers cryptocurrencies, discussing the role and value of tokens in economies with distributed ledger systems.

Author: Jin Cao
Publisher: Routledge
ISBN: 1000465497
Category : Business & Economics
Languages : en
Pages : 484

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Book Description
The Economics of Banking provides an accessible overview of banking theory and practice. It introduces readers to the building blocks of fundamental theories and provides guidance on state-of-the-art research, reflecting the dramatic changes in the banking industry and banking research over the past two decades. This textbook explores market failure and financial frictions that motivate the role of financial intermediaries, explains the microeconomic incentives and behavior of participants in banking, examines microlevel market stress caused by economic recessions and financial crises, and looks at the role of monetary authorities and banking regulators to reduce systemic fragility as well as to improve macroeconomic stability. It delivers broad coverage of both the micro and macroeconomics of banking, central banking and banking regulation, striking a fine balance between rigorous theoretical foundations, sound empirical evidence for banking theories at work, and practical knowledge for banking and policymaking in the real world. The Economics of Banking is suitable for advanced undergraduate, master’s, or early PhD students of economics and finance, and will also be valuable reading for bankers and banking regulators.

Author: James Morrow
Publisher: Houghton Mifflin Harcourt
ISBN: 9780156180429
Category : Fiction
Languages : en
Pages : 172

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Book Description
Jack Sperry is a loyal citizen of Veritas, the City of Truth, until tragedy strikes his life, and he must hide from truth in order to save his son's life.

Author: Scott Pelley
Publisher: Harlequin
ISBN: 1488053626
Category : Biography & Autobiography
Languages : en
Pages : 529

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Book Description
This inspiring memoir of life on the frontlines of history is a “riveting blend of investigative reporting, color commentary, and personal reminiscence” (Publishers Weekly, starred review). A 60 Minutes correspondent and former anchor of the CBS Evening News, Scott Pelley writes as a witness to events that changed our world. In moving, detailed prose, he stands with firefighters at the collapsing World Trade Center on 9/11, advances with American troops in combat in Afghanistan and Iraq, and reveals private moments with presidents (and would-be presidents) he’s known for decades. Pelley also offers a resounding defense of free speech and a free press as the rights that guarantee all others. Above all, Truth Worth Telling offers a collection of inspiring tales that reminds us of the importance of sticking to our values in uncertain times. For readers who believe that values matter, and that truth is worth telling, Pelley writes, “I have written this book for you.”