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We report evidence that bank liquidity ratios (liquid assets as a percentage of total assets) decrease during the process of economic development. To reconcile this observation with the increasing importance of financial markets and the increasing direct participation of individual investors in...
Persistent link: https://www.econbiz.de/10013007735
This paper builds, identifies and estimates a model of the labor market that features strategic interactions in wage setting and two-sided heterogeneity in order to shed light on the sources of wage inequality. We provide a tractable characterization of the model equilibrium and demonstrate its...
Persistent link: https://www.econbiz.de/10014544771
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How does the presence of decentralized market-based liquidity channels affect financial liberalization and contagion? In order to answer this question, I extend the Diamond and Dybvig (1983) model of financial intermediation to a two-country environment, in which banks in each country enjoy a...
Persistent link: https://www.econbiz.de/10013007734
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