In this paper, we address the question whether increasing households' financial market access improves welfare in a financial system in which there is intense competition among banks for private households' funds. Following earlier work by Diamond and by Fecht, we use a model in which the degree...

Following Diamond (1997) and Fecht (2004) we use a model in which financial market access of households restrains the efficiency of the liquidity insurance that banks' deposit contracts provide to households that are subject to idiosyncratic liquidity shocks. But in contrast to these approaches...

Following Diamond (1997) and Fecht (2004) we use a model in which financial market access of households restrains the efficiency of the liquidity insurance that banks' deposit contracts provide to households that are subject to idiosyncratic liquidity shocks. But in contrast to these approaches...

Unser Aufsatz beschäftigt sich mit der Logik des Weiterbildungsverhaltens von Unternehmen. Wir kommen zu dem Ergebnis, daß das Weiterbildungsverhalten nicht ausschließlich einem ökonomischem Kalkül folgt, sondern nur erklärt werden kann, wenn man die Wirkungsweise betrieblicher...