Description - Credit, Intermediation, and the Macroeconomy by Sudipto Bhattacharya
Developments in theories of financial markets and institutions, using the tools of the economics of uncertainty and of contracts, as well as results in game theory, have, over the last two decades, constituted an exciting and burgeoning field of research. This collection of readings draws together highlights of the 'second generation' literature in this area, emphasizing the theoretical, institutional, and policy-oriented regulatory implications of some of the key modelling techniques in the field. The collection divides into seven sections covering the monitoring role of banks and other intermediaries; liquidity demand and the role of banks and the government; bank runs and financial crises; bank regulation; inter-bank competition and bank--firm relationships; comparative financial systems; and imperfect credit markets and the macroeconomy. Each section comprises four articles previously published in top-ranking economics and finance journals, plus a discussion by a prominent scholar, who provides a synthesis and critique of the literature, and suggests promising directions for future research and application of results.
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(234mm x 156mm x 47mm)
Oxford University Press
Publisher: Oxford University Press
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Author Biography - Sudipto Bhattacharya
Sudipto Bhattacharya is currently Professor of Finance in the Department of Accounting and Finance at the London School of Economics and Political Science. Previously, he has taught at the Universities of Chicago, Stanford, Berkeley, Michigan, and Delhi.
Arnoud Boot is Professor of Corporate Finance and Financial Markets at the Faculty of Economics and Econometrics at the University of Amsterdam and advisor to the Riksbanken (Central Bank of Sweden). He is also Research Fellow at the Centre for Economic Policy Research (CEPR) in London and at the Davidson Institute of the University of Michigan.
Anjan Thakor is Edward J. Frey Professor of Banking and Finance at the University of Michigan Business School. He previously held appointments at Indiana University and UCLA.