Incomplete Markets and Financial Instability. The Role of Information
Considering the way that the world economy has evolved over the last 30-40 years, there was a transition from a predominant real economy to a predominant financial economy. Once, there were prevalent economic crises (when the real economy was important); today, the economies all around the world face prevalent financial crises; therefore, it is extremely important to study the role of financial markets, especially the incomplete markets feature (given by the imperfect information). The paper aims to analyze the relationship between imperfect information and incomplete financial markets and the way they are affecting the financial stability.
References listed on IDEAS
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- Vlieghe, Gertjan W, 2007.
"Imperfect credit markets: implications for monetary policy,"
12957, University Library of Munich, Germany.
- Vlieghe, Gertjan, 2010. "Imperfect credit markets: implications for monetary policy," Bank of England working papers 385, Bank of England.
- Victoria Saporta, 1997. "Which Inter-dealer Market Prevails? An analysis of inter-dealer trading in opaque markets," Bank of England working papers 59, Bank of England.
- Tan, Kang Yong & Tanaka, Misa, 2008. "International monetary co-operation in a world of imperfect information," Bank of England working papers 344, Bank of England.
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