Intermediation Variety
收藏NBER2019-06-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w25946
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资源简介：
We explain the emergence of a variety of intermediaries in a model based only on differences in their funding costs. Banks have a low cost of capital due to, say, safety nets or money-like liabilities. We show, however, that this can be a disadvantage, because it exacerbates soft-budget-constraint
提供机构：
美国国家经济研究局
创建时间：
2019-06-01
