The Economics of financial Matching
AbstractIn this paper we try to place the phenomenon of financial matching in the broader context of financial economics. We explore the conceptual links with collateral, leverage, role of capital in financial intermediaries and non-financial corporations, the risk-shifting between the financial and the non-financial sectors, and public policy implications. A broader research agenda is outlined. Although this is a far cry from a survey, we summarized two paradigms of financial economics which can buttress this endeavor. Finally, we prepared a small analytical example to analyze financial matching in a corporate governance setting.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Department of Economics - dECON in its series Documentos de Trabajo (working papers) with number 1002.
Length: 16 pages
Date of creation: Dec 2002
Date of revision:
Contact details of provider:
Postal: Constituyente 1502, 6to piso, CP 11200, Montevideo
Phone: (598) 2410-6449
Fax: (598) 2410-6450
Web page: http://www.fcs.edu.uy/subcategoria.php?SubCatId=48&CatId=53
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Holmström, Bengt & Tirole, Jean, 1994.
"Financial Intermediation, Loanable Funds and the Real Sector,"
IDEI Working Papers
40, Institut d'Économie Industrielle (IDEI), Toulouse.
- Holmstrom, Bengt & Tirole, Jean, 1997. "Financial Intermediation, Loanable Funds, and the Real Sector," The Quarterly Journal of Economics, MIT Press, vol. 112(3), pages 663-91, August.
- Bengt Holmstrom & Jean Tirole, 1994. "Financial Intermediation, Loanable Funds and the Real Sector," Working papers 95-1, Massachusetts Institute of Technology (MIT), Department of Economics.
- Holmstrom, B & Tirole, J, 1996.
"Private and Public Supply of Liquidity,"
96-21, Massachusetts Institute of Technology (MIT), Department of Economics.
- Tirole, Jean, 2001.
Econometric Society, vol. 69(1), pages 1-35, January.
- Michael Magill & Martine Quinzii, 2002. "Theory of Incomplete Markets, Volume 1," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262632543, June.
- Gorton, Gary & Winton, Andrew, 2003.
Handbook of the Economics of Finance,
in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, edition 1, volume 1, chapter 8, pages 431-552
- Gary Gorton & Andrew Winton, 2002. "Financial Intermediation," NBER Working Papers 8928, National Bureau of Economic Research, Inc.
- Gary Gorton & Andrew Winton, 2002. "Financial Intermediation," Center for Financial Institutions Working Papers 02-28, Wharton School Center for Financial Institutions, University of Pennsylvania.
- Pesendorfer Wolfgang, 1995.
"Financial Innovation in a General Equilibrium Model,"
Journal of Economic Theory,
Elsevier, vol. 65(1), pages 79-116, February.
- Wolfgang Pesendorfer, 1991. "Financial Innovation in a General Equilibrium Model," UCLA Economics Working Papers 635, UCLA Department of Economics.
- Geanakoplos, John, 1990. "An introduction to general equilibrium with incomplete asset markets," Journal of Mathematical Economics, Elsevier, vol. 19(1-2), pages 1-38.
- Luis Felipe Cespedes & Roberto Chang & Andres Velasco, 2002. "IS-LM-BP in the Pampas," NBER Working Papers 9337, National Bureau of Economic Research, Inc.
- George A. Akerlof & Paul M. Romer, 1993. "Looting: The Economic Underworld of Bankruptcy for Profit," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 24(2), pages 1-74.
- Bengt Holmstrom & Jean Tirole, 1998.
"LAPM: A Liquidity-based Asset Pricing Model,"
NBER Working Papers
6673, National Bureau of Economic Research, Inc.
- John Geanakoplos, 1996. "Promises Promises," Cowles Foundation Discussion Papers 1143, Cowles Foundation for Research in Economics, Yale University.
- Ricardo J. Caballero & Arvind Krishnamurthy, 2003. "Excessive Dollar Debt: Financial Development and Underinsurance," Journal of Finance, American Finance Association, vol. 58(2), pages 867-894, 04.
- Bengt Holmstrom & Jean Tirole, 2002. "Domestic and International Supply of Liquidity," American Economic Review, American Economic Association, vol. 92(2), pages 42-45, May.
- Pradeep Dubey & John Geanakoplos & Martin Shubik, 2000. "Default in a General Equilibrium Model with Incomplete Markets," Cowles Foundation Discussion Papers 1247, Cowles Foundation for Research in Economics, Yale University.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Irene Musio) or (Héctor Pastori).
If references are entirely missing, you can add them using this form.