A Theory of Liquidity and Regulation of Financial Intermediation
收藏NBER2007-03-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w12959
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资源简介：
This paper studies a mechanism design model of financial intermediation. There are two informational frictions: agents receive unobservable shocks and can participate in markets by engaging in trades unobservable to intermediaries. Without regulations, intermediaries provide no risk sharing because
提供机构：
美国国家经济研究局
创建时间：
2007-03-01
