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Incomplete Markets and Financial Instability. The Role of Information

  • Cristian Ionescu

    ()

    (Academy of Economic Studies, Romania)

Registered author(s):

    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.

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    File URL: http://upet.ro/annals/economics/pdf/2012/part1/Ionescu_C-2.pdf
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    Article provided by University of Petrosani, Romania in its journal Annals of the University of Petrosani - Economics.

    Volume (Year): 12 (2012)
    Issue (Month): 1 ()
    Pages: 141-150

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    Handle: RePEc:pet:annals:v:12:y:2012:i:1:p:141-150
    Contact details of provider: Web page: http://www.upet.ro/

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    1. Vlieghe, Gertjan W, 2007. "Imperfect credit markets: implications for monetary policy," MPRA Paper 12957, University Library of Munich, Germany.
    2. Suleyman Basak & Georgy Chabakauri, 2011. "Dynamic Hedging in Incomplete Markets: A Simple Solution," FMG Discussion Papers dp680, Financial Markets Group.
    3. 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.
    4. 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.
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