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Inside And Outside Liquidity

FORMAT: PDF EPUB MOBI
DATA DE LANÇAMENTO: 2013
TAMANHO POR ARQUIVO: 7,4
ISBN: 9780262518536
LÍNGUA: PORTUGUÊS
AUTOR: Holmstrom,Bengt Tirole,Jean
PREÇO: GRATUITO

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Two leading economists develop a theory explaining the demand for and supply of liquid assets.Why do financial institutions, industrial companies, and households hold low-yielding money balances, Treasury bills, and other liquid assets? When and to what extent can the state and international financial markets make up for a shortage of liquid assets, allowing agents to save and share risk more effectively? These questions are at the center of all financial crises, including the current global one.In Inside and Outside Liquidity, leading economists Bengt Holmstrom and Jean Tirole offer an original, unified perspective on these questions. In a slight, but important, departure from the standard theory of finance, they show how imperfect pledgeability of corporate income leads to a demand for as well as a shortage of liquidity with interesting implications for the pricing of assets, investment decisions, and liquidity management. The government has an active role to play in improving risk-sharing between consumers with limited commitment power and firms dealing with the high costs of potential liquidity shortages. In this perspective, private risk-sharing is always imperfect and may lead to financial crises that can be alleviated through government interventions.

...nside and outside liquidity provision". Error Reducing wasteful economizing on liquidity moves the money market closer to following the Friedman Rule ... Inside and Outside - Home | Facebook ... . More important is that safe money would provide a safeguard against runs. Inside and Outside Liquidity. Copyright: © All Rights Reserved. Download now. SaveSave Inside and Outside Liquidity - Holmstrom e Tirole For Later. 0 ratings0% found this document useful (0 votes). Monetary Economics. Lecture 23a: inside and outside liquidity, part one Chris Edmond. Liquidity: availability of assets for intertemporal smoothing ... Inside and Outside Liquidity ... . Monetary Economics. Lecture 23a: inside and outside liquidity, part one Chris Edmond. Liquidity: availability of assets for intertemporal smoothing Q. Is the private supply of liquid assets socially optimal? Outside liquidity is a more efficient source, but asymmetric information about asset quality can introduce a friction in the form of excessively early asset trading in anticipation of a liquidity shock, excessively high cash reserves, and too little origination of assets by banks. Inside and outside liquidity. This edition was published in 2011 by MIT Press in Cambridge, Mass. Table of Contents. Leverage. A simple model of liquidity demand. Aggregate liquidity shortages and liquidity premia. A liquidity asset pricing model (LAPM). Public provision of liquidity in a closed... Bengt Holmström, and Jean Tirole, Inside and Outside Liquidity, Paris, France: MIT Press, January 2011, 320 pages. In Inside and Outside Liquidity, leading economists Bengt Holmström and Jean Tirole offer an original, unified perspective on these questions. In a slight, but important, departure from the standard theory of finance, they show how imperfect pledgeability of corporate income leads to a demand for as... When liquidity shocks appear, firms can use their own assets, inside liquidity, to obtain cash; when they are not enough, government intervenes through bonds and measures such as the discount window, deposit insurance, unemployment benefits and other forms of outside liquidity... Inside and Outside Liquidity. Od autorů: Bengt Holmström, Jean Tirole. Bengt Holmstroem, Jean Tirole. Two leading economists deve...