Governments use monetary policies to counteract the effects of financial crises. In this paper we examine the subsidy that such quot;safety netquot; policies provide to the banking industry. Using a model of uncertainty-driven financial crises, we show that any monetary policy designed to...

As well as a two-fold contribution to the literature as highlighted in their paper“, Financial Disruptions and the Cyclical Upgrading of Labor” (2017:8), and elaborated on by Epstein et al, the reconciliation of two quantitative limitations of current general equilibrium theories...

Implications of the digital economy and its impact on the Economics of Employment in the 21st Century are reflected through lower wages which have been fueled through the rise of Information Technology, with the consequential advents of phenomena such as the Fourth Industrial Revolution and the...

In this paper a modified version of Bernanke and Blinder�s (1988) model of the bank lending channel of monetary policy under asymmetric information is presented. If, aside from reserve requirements, banks have to meet capital adequacy requirements as well, then the results suggested by...

Une manière de vérifier la pertinence de la théorie de la croissance endogène est de tester en économie fermée l’existence d’une relation entre l’innovation et la productivité globale des facteurs. Plus récemment, cette approche a été élargie afin de tenir compte des...

In a heterogeneous financial system, we study a capital crunch transmission on total investment. We develop a model of endogenous credit allocation in which investors, small and large banks differ according to their level of capital and monitoring technology. In a context of moral hazard,...

The paper investigates how monetary policy shocks influence the composition of firms' external finance given that firms are heterogeneous. Heterogeneity stems from differences in the availability of internal funds and in the monitoring costs associated with bank finance. These costs are...

This Article presents European money market funds from multiple dimensions and shows the diversity of these funds — a diversity rooted in the historical developments of diverse European financial markets. The events of the financial crisis and liquidity squeeze confronting European money...

Investment in Capital Markets creates a strategic vision on the financial capital investment in the capital markets with the aim to get an increased return premium in the short and long time periods. The book is written with a main goal to explain the pros and cons of the financial capital...

We study the relationship between symmetry, efficient markets and monetary neutrality. We find that information symmetry can lead markets to reach efficient outcomes and will produce the prices which fluctuate randomly. However, information symmetry is almost impossible to achieve without...