Macroeconomic Evolution after a Production Shock: the Role for Financial Intermediation

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Macroeconomic Evolution after a Production Shock: the Role for Financial Intermediation

Author Info

Dmitri V. Vinogradov () (Universität Heidelberg, Alfred-Weber-Institut für Wirtschaftswissenschaften, Universität Heidelberg, Alfred-Weber-Institut für Wirtschaftswissenschaften)

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Dmitri Vinogradov

Abstract

Financial intermediaries may increase economic efficiency through intertemporal risk smoothing. However without an adequate regulation, intermediation may fail to do this. This paper studies the effects of a production shock in a closed economy and compares abilities of market-based and bank-based financial systems in processing the shock. Unregulated banking system may collapse in absence of a proper regulation. The paper studies several types of regulatory interventions, which may improve the performance of the banking system.

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Publisher Info
Paper provided by University of Heidelberg, Department of Economics in its series Working Papers with number 0430.

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Length: 36 pages
Date of creation: Aug 2006
Date of revision: Aug 2006
Handle: RePEc:awi:wpaper:0430

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Find related papers by JEL classification:
D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages
G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
E53 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Deposit Insurance
O16 - Economic Development, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment

This paper has been announced in the following NEP Reports:

NEP-ALL-2007-01-14 (All new papers)
NEP-BAN-2007-01-14 (Banking)
NEP-MAC-2007-01-14 (Macroeconomics)
NEP-REG-2007-01-14 (Regulation)

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This page was last updated on 2009-11-26.

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