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Bruce D. Smith

(deceased)

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Champ, B. & Smith, B.D., 1991. "Currency Elasticity and Banking Panics: theory and Evidence," University of Western Ontario, The Centre for the Study of International Economic Relations Working Papers 9109, University of Western Ontario, The Centre for the Study of International Economic Relations.

    Mentioned in:

    1. The Very Model of a Modern Monetary Economist
      by George Selgin in Free Banking on 2015-05-19 00:38:16
    2. 10 Things Every Economist Should Know About The Gold Standard
      by Tyler Durden in Zero Hedge on 2015-08-20 07:45:00
    3. Ten Things Every Economist Should Know about the Gold Standard
      by George Selgin in Free Banking on 2015-05-28 07:42:24
    4. Ten Things Every Economist Should Know about the Gold Standard
      by George Selgin in Free Banking on 2015-06-04 19:44:07
  2. Bruce Champ & Bruce D. Smith & Stephen D. Williamson, 1996. "Currency Elasticity and Banking Panics: Theory and Evidence," Canadian Journal of Economics, Canadian Economics Association, vol. 29(4), pages 828-864, November.

    Mentioned in:

    1. The Very Model of a Modern Monetary Economist
      by George Selgin in Free Banking on 2015-05-19 00:38:16
    2. 10 Things Every Economist Should Know About The Gold Standard
      by Tyler Durden in Zero Hedge on 2015-08-20 07:45:00
    3. Ten Things Every Economist Should Know about the Gold Standard
      by George Selgin in Free Banking on 2015-05-28 07:42:24
    4. Ten Things Every Economist Should Know about the Gold Standard
      by George Selgin in Free Banking on 2015-06-04 19:44:07
  3. Author Profile
    1. What Do We Want Out of Macroeconomics?
      by Josh in The Everyday Economist on 2014-09-24 02:00:57

Working papers

  1. Bruce D. Smith & Beatrix Paal & Ke Wang, 2005. "Monopoly versus Competition in Banking: Some Implications for Growth and Welfare," 2005 Meeting Papers 435, Society for Economic Dynamics.

    Cited by:

    1. Tetsuo Ono, 2020. "Fiscal rules in a monetary economy: Implications for growth and welfare," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 22(1), pages 190-219, February.
    2. Edgar A. Ghossoub & Robert R. Reed, 2021. "Banking Competition, Capital Accumulation, And Interest On Reserves," Economic Inquiry, Western Economic Association International, vol. 59(2), pages 671-695, April.
    3. Tarishi Matsuoka, 2011. "Monetary Policy and Banking Structure," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(6), pages 1109-1129, September.
    4. Carlos Gustavo Machicado, 2007. "Growth and Banking Structure in a Partially Dollarized Economy," Development Research Working Paper Series 02/2007, Institute for Advanced Development Studies.
    5. Nguyen, My & Perera, Shrimal & Skully, Michael, 2017. "Bank market power, asset liquidity and funding liquidity: International evidence," International Review of Financial Analysis, Elsevier, vol. 54(C), pages 23-38.
    6. Edgar A. Ghossoub, 2013. "Banking Competition: Implications for Welfare and Monetary Policy," Working Papers 0182eco, College of Business, University of Texas at San Antonio.
    7. Edgar A. Ghossoub & Robert Reed & Thanarak Laosuthi, 2008. "The Role of Financial Sector Competition for Monetary Policy," Working Papers 0069, College of Business, University of Texas at San Antonio.
    8. Edgar Ghossoub, 2010. "Liquidity Risk and Financial Competition: Implications on Asset Prices and Monetary Policy," Working Papers 0003, College of Business, University of Texas at San Antonio.
    9. Ghossoub, Edgar A., 2012. "Liquidity risk and financial competition: Implications for asset prices and monetary policy," European Economic Review, Elsevier, vol. 56(2), pages 155-173.
    10. Edgar A. Ghossoub & Thanarak Laosuthi & Robert R. Reed, 2012. "The role of financial sector competition for monetary policy," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 45(1), pages 270-287, February.
    11. Edgar A. Ghossoub & Thanarak Laosuthi & Robert R. Reed, 2012. "The role of financial sector competition for monetary policy," Canadian Journal of Economics, Canadian Economics Association, vol. 45(1), pages 270-287, February.
    12. Edgar A. Ghossoub, 2015. "Inflation Thresholds and the Efficiency of the Banking Sector," Working Papers 0159eco, College of Business, University of Texas at San Antonio.
    13. Ghossoub, Edgar A., 2023. "Economic growth, inflation, and banking sector competition," Economic Modelling, Elsevier, vol. 129(C).

  2. Mr. Bruce D. Smith & Mr. Gianni De Nicolo & John H. Boyd, 2003. "Crisis in Competitive Versus Monopolistic Banking Systems," IMF Working Papers 2003/188, International Monetary Fund.

    Cited by:

    1. Mensah, Jones Odei & Premaratne, Gamini, 2017. "Systemic interconnectedness among Asian Banks," Japan and the World Economy, Elsevier, vol. 41(C), pages 17-33.
    2. Brissimis, Sophocles N. & Delis, Manthos D., 2011. "Bank-level estimates of market power," European Journal of Operational Research, Elsevier, vol. 212(3), pages 508-517, August.
    3. Fiordelisi, Franco & Mare, Davide Salvatore & Molyneux, Philip, 2015. "State-Aid, Stability and Competition in European Banking," MPRA Paper 67473, University Library of Munich, Germany.
    4. Müller, Oliver & Uhde, André, 2013. "Cross-border bank lending: Empirical evidence on new determinants from OECD banking markets," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 23(C), pages 136-162.
    5. Cyril Monnet & Daniel R. Sanches, 2015. "Private money and banking regulation," Working Papers 15-19, Federal Reserve Bank of Philadelphia.
    6. Carletti, Elena & Leonello, Agnese, 2016. "Credit market competition and liquidity crises," Working Paper Series 1932, European Central Bank.
    7. Harry Xia & Kevin Lei & Jiaochen Liang, 2019. "Bank Competition, Efficiency, and Stability in Macau," Accounting and Finance Research, Sciedu Press, vol. 8(4), pages 157-157, November.
    8. Edgar A. Ghossoub & Robert R. Reed, 2019. "Banking competition, production externalities, and the effects of monetary policy," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 67(1), pages 91-154, February.
    9. Xiaoqing Maggie Fu & Yongjia Rebecca Lin & Philip Molyneux, 2015. "Bank Competition and Financial Stability in Asia Pacific," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Bank Competition, Efficiency and Liquidity Creation in Asia Pacific, chapter 3, pages 49-71, Palgrave Macmillan.
    10. Benedikt Frank, 2021. "The Financial Crisis in the 2000s: Further Effects Regarding Lending, Regulation and Efficiency," ACTA VSFS, University of Finance and Administration, vol. 15(2), pages 155-175.
    11. Rakan Fuad Aldomy & Chan Kok Thim & Nguyen Thi Phuong Lan & Mariati Binti Norhashim, 2020. "Bank Concentration and Financial Risk in Jordan," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 16(3), pages 31-44.
    12. Nevermann, Daniel & Heckmann, Lotta, 2023. "Effects of mergers on network models of the financial system," Discussion Papers 29/2023, Deutsche Bundesbank.
    13. Edgar A. Ghossoub & Robert R. Reed, 2021. "Banking Competition, Capital Accumulation, And Interest On Reserves," Economic Inquiry, Western Economic Association International, vol. 59(2), pages 671-695, April.
    14. Mekki Hamdaoui, 2017. "RETRACTED ARTICLE: Liberalization, Regulatory Delays and Vulnerability to Systemic Banking Crisis," International Economic Journal, Taylor & Francis Journals, vol. 31(4), pages 490-534, October.
    15. Yasuhiro Yamamoto, 2020. "Less competitive bank markets: Conventional and unconventional monetary policies through bank‐lending channels," International Finance, Wiley Blackwell, vol. 23(2), pages 277-296, August.
    16. Daniel Sanches, 2016. "On the Inherent Instability of Private Money," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 20, pages 198-214, April.
    17. Tarishi Matsuoka, 2011. "Monetary Policy and Banking Structure," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(6), pages 1109-1129, September.
    18. Uhde, André & Heimeshoff, Ulrich, 2009. "Consolidation in banking and financial stability in Europe: Empirical evidence," Journal of Banking & Finance, Elsevier, vol. 33(7), pages 1299-1311, July.
    19. Shijaku, Gerti, 2017. "Bank Stability and Competition: Evidence from Albanian Banking Market," MPRA Paper 79891, University Library of Munich, Germany.
    20. Ana Carolina Garriga, 2017. "Regulatory lags, liberalization, and vulnerability to banking crises," Regulation & Governance, John Wiley & Sons, vol. 11(2), pages 143-165, June.
    21. Lapteacru, Ion, 2017. "Market power and risk of Central and Eastern European banks: Does more powerful mean safer?," Economic Modelling, Elsevier, vol. 63(C), pages 46-59.
    22. Shijaku, Gerti, 2016. "Does concentration matter for bank stability - evidence from Albanian Banking System," MPRA Paper 79086, University Library of Munich, Germany.
    23. Yulia Ushakova & Anna Kruglova, 2018. "Competition in Russia's Banking Sector Prior to and After Supervision Policy Enhancement: Conclusions Based on Interest Rate Dispersion and Spread," Russian Journal of Money and Finance, Bank of Russia, vol. 77(2), pages 22-50, June.
    24. Rahman, Md Lutfur & Troster, Victor & Uddin, Gazi Salah & Yahya, Muhammad, 2022. "Systemic risk contribution of banks and non-bank financial institutions across frequencies: The Australian experience," International Review of Financial Analysis, Elsevier, vol. 79(C).
    25. Tarishi Matsuoka & Makoto Watanabe, 2017. "Banking Panics and Liquidity in a Monetary Economy," Tinbergen Institute Discussion Papers 17-091/VII, Tinbergen Institute.
    26. Ivana Catturani & Erika Dalpiaz, 2017. "Alternative classifications of Italian banks:Do different grouping rules mislead results on the risk profile of banks?," DEM Working Papers 2017/11, Department of Economics and Management.
    27. Samantas, Ioannis G., 2017. "On the optimality of bank competition policy," International Review of Financial Analysis, Elsevier, vol. 54(C), pages 39-53.
    28. Marcella Lucchetta, 2017. "Banking competition and welfare," Annals of Finance, Springer, vol. 13(1), pages 31-53, February.
    29. Tabak, Benjamin M. & Gomes, Guilherme M.R. & da Silva Medeiros, Maurício, 2015. "The impact of market power at bank level in risk-taking: The Brazilian case," International Review of Financial Analysis, Elsevier, vol. 40(C), pages 154-165.
    30. Edgar A. Ghossoub, 2013. "Banking Competition: Implications for Welfare and Monetary Policy," Working Papers 0182eco, College of Business, University of Texas at San Antonio.
    31. Matsuoka, Tarishi, 2013. "Sunspot bank runs in competitive versus monopolistic banking systems," Economics Letters, Elsevier, vol. 118(2), pages 247-249.
    32. Bank for International Settlements, 2010. "Long-term issues in international banking," CGFS Papers, Bank for International Settlements, number 41, december.
    33. Gao, Jiahong & Reed, Robert R., 2021. "Sunspot bank runs and fragility: The role of financial sector competition," European Economic Review, Elsevier, vol. 139(C).
    34. Cetorelli, Nicola & Peretto, Pietro F., 2012. "Credit quantity and credit quality: Bank competition and capital accumulation," Journal of Economic Theory, Elsevier, vol. 147(3), pages 967-998.
    35. Begoña Torre Olmo & María Cantero Saiz & Sergio Sanfilippo Azofra, 2021. "Sustainable Banking, Market Power, and Efficiency: Effects on Banks’ Profitability and Risk," Sustainability, MDPI, vol. 13(3), pages 1-24, January.
    36. Chao Gu & Cyril Monnet & Ed Nosal & Randall Wright, 2023. "Diamond-Dybvig and Beyond: On the Instability of Banking," FRB Atlanta Working Paper 2023-02, Federal Reserve Bank of Atlanta.
    37. Shijaku, Gerti, 2016. "Does bank competition affect bank stability after the global financial crisis?," MPRA Paper 79084, University Library of Munich, Germany.
    38. Petra Rùèková & Nicole Škuláòová, 2021. "How Selected Macroeconomic Factors Affect the Corporate Profitability of Transportation and Storage Companies in Selected European Economies," ACTA VSFS, University of Finance and Administration, vol. 15(2), pages 176-197.
    39. Calomiris, Charles W. (Каломирис, Чарльз) & Haber, Stephen H. (Хабер, Стивен Х.), 2016. "Fragile by design: The Political Origins of Banking Crises and Scarce Credit [Непрочные По Конструкции: Политические Причины Банковских Кризисов И Дефицита Кредитов]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 4, pages 7-34, August.
    40. Edgar A. Ghossoub & Robert Reed & Thanarak Laosuthi, 2008. "The Role of Financial Sector Competition for Monetary Policy," Working Papers 0069, College of Business, University of Texas at San Antonio.
    41. Skeie, David R., 2008. "Banking with nominal deposits and inside money," Journal of Financial Intermediation, Elsevier, vol. 17(4), pages 562-584, October.
    42. Dwumfour, Richard Adjei, 2017. "Explaining banking stability in Sub-Saharan Africa," Research in International Business and Finance, Elsevier, vol. 41(C), pages 260-279.
    43. BARRA, Cristian & ZOTTI, Roberto, 2017. "Bank Performance, Financial Stability and Market Competition: do Cooperative and Non-Cooperative Banks Behave Differently?," CELPE Discussion Papers 143, CELPE - CEnter for Labor and Political Economics, University of Salerno, Italy.
    44. Matsuoka, Tarishi & Watanabe, Makoto, 2019. "Banking crises and liquidity in a monetary economy," Journal of Economic Dynamics and Control, Elsevier, vol. 108(C).
    45. Edgar Ghossoub, 2010. "Liquidity Risk and Financial Competition: Implications on Asset Prices and Monetary Policy," Working Papers 0003, College of Business, University of Texas at San Antonio.
    46. Mr. Martin Cihak & Simon Wolfe & Mr. Klaus Schaeck, 2006. "Are More Competitive Banking Systems More Stable?," IMF Working Papers 2006/143, International Monetary Fund.
    47. Jordan Kjosevski & Mihail Petkovski, 2017. "Determinants of Bank Profitability in the Republic of Macedonia – a Panel Data Analysis," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 41-65.
    48. Alejandro Micco & Ugo Panizza, 2006. "Bank Concentration and Credit Volatility," World Scientific Book Chapters, in: Gerard Caprio Jr & Douglas D Evanoff & George G Kaufman (ed.), Cross-Border Banking Regulatory Challenges, chapter 12, pages 183-197, World Scientific Publishing Co. Pte. Ltd..
    49. Ghossoub, Edgar A., 2012. "Liquidity risk and financial competition: Implications for asset prices and monetary policy," European Economic Review, Elsevier, vol. 56(2), pages 155-173.
    50. Uhde, André, 2021. "Tax avoidance through securitization," The Quarterly Review of Economics and Finance, Elsevier, vol. 79(C), pages 411-421.
    51. Jeungbo Shim, 2017. "An Investigation Of Market Concentration And Financial Stability In Property–Liability Insurance Industry," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 84(2), pages 567-597, June.
    52. Gerti Shijaku, 2017. "How Does Competition Affect Bank Stability After the Global Crises in the Case of the Albanian Banking System?," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 15(2), pages 175-208.
    53. Hamdaoui, Mekki & Maktouf, Samir, 2020. "Financial reforms and banking system vulnerability: The role of regulatory frameworks," Structural Change and Economic Dynamics, Elsevier, vol. 52(C), pages 184-205.
    54. Bijoy Rakshit & Samaresh Bardhan, 2020. "Does Bank Competition Enhance or Hinder Financial Stability? Evidence from Indian Banking," Journal of Central Banking Theory and Practice, Central bank of Montenegro, vol. 9(special i), pages 75-102.
    55. Edgar A. Ghossoub & Thanarak Laosuthi & Robert R. Reed, 2012. "The role of financial sector competition for monetary policy," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 45(1), pages 270-287, February.
    56. Badarau, Cristina & Lapteacru, Ion, 2020. "Bank risk, competition and bank connectedness with firms: A literature review," Research in International Business and Finance, Elsevier, vol. 51(C).
    57. Samantas, Ioannis, 2013. "Bank competition and financial (in)stability in Europe: A sensitivity analysis," MPRA Paper 51621, University Library of Munich, Germany.
    58. Edgar A. Ghossoub, 2015. "Inflation Thresholds and the Efficiency of the Banking Sector," Working Papers 0159eco, College of Business, University of Texas at San Antonio.
    59. Elena Deryugina & Alexey Ponomarenko & Andrey Sinyakov, 2021. "Exploring the conjunction between the structures of deposit and credit markets in the digital economy under information asymmetry," Bank of Russia Working Paper Series wps78, Bank of Russia.
    60. Shaofang Li, 2021. "Quality of Bank Capital, Competition, and Risk-Taking: Some International Evidence," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 57(12), pages 3455-3488, September.
    61. Omar Khlaif Gharaibeh & Buthiena Kharabsheh & Khaldoon Ahmad Al Daoud, 2022. "Risks, Bank Concentration and their Impact on Stability in Jordanian Commercial Banks," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 11, September.
    62. Sergio SANFILIPPO AZOFRA & Maria CANTERO SAIZ & Begona TORRE OLMO & Carlos LOPEZ GUTIERREZ, 2013. "Financial Crises, Concentration and Efficiency: Effects on Performance and Risk of Banks," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 63(6), pages 537-558, December.
    63. Anna Kruglova & Yulia Ushakova, 2017. "Effect of Banking Sector Resolution on Competition and Stability," Bank of Russia Working Paper Series wps22, Bank of Russia.
    64. Edgar A. Ghossoub, 2016. "Commercial Banks, Credit Unions, and Monetary Policy," Working Papers 0174eco, College of Business, University of Texas at San Antonio.
    65. Ghossoub, Edgar A., 2023. "Economic growth, inflation, and banking sector competition," Economic Modelling, Elsevier, vol. 129(C).
    66. Hasan, Iftekhar & Marinc, Matej, 2013. "Should competition policy in banking be amended during crises? Lessons from the EU," Bank of Finland Research Discussion Papers 7/2013, Bank of Finland.
    67. Doumpos, Michael & Gaganis, Chrysovalantis & Pasiouras, Fotios, 2015. "Central bank independence, financial supervision structure and bank soundness: An empirical analysis around the crisis," Journal of Banking & Finance, Elsevier, vol. 61(S1), pages 69-83.
    68. Weiß, Gregor N.F. & Bostandzic, Denefa & Neumann, Sascha, 2014. "What factors drive systemic risk during international financial crises?," Journal of Banking & Finance, Elsevier, vol. 41(C), pages 78-96.
    69. Ioannis G. Samantas, 2016. "On the optimality of bank competition policy," Working Papers 209, Bank of Greece.
    70. Gianni De Nicolò & Marcella Lucchetta, 2013. "Bank Competition and Financial Stability: A General Equilibrium Exposition," CESifo Working Paper Series 4123, CESifo.
    71. Kouki, Imen & Al-Nasser, Amjad, 2017. "The implication of banking competition: Evidence from African countries," Research in International Business and Finance, Elsevier, vol. 39(PB), pages 878-895.
    72. Eichler, Stefan, 2015. "How Do Political Factors Shape the Bank Risk-Sovereign Risk Nexus in Emerging Markets?," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 112877, Verein für Socialpolitik / German Economic Association.

  3. Stacey L. Schreft & Bruce Smith, 2003. "The social value of risk-free government debt," Research Working Paper RWP 03-02, Federal Reserve Bank of Kansas City.

    Cited by:

    1. Bhattacharya, Joydeep & Singh, Rajesh, 2008. "Optimal choice of monetary policy instruments in an economy with real and liquidity shocks," Journal of Economic Dynamics and Control, Elsevier, vol. 32(4), pages 1273-1311, April.
    2. Joseph H. Haslag & Antoine Martin, 2007. "Optimality of the Friedman Rule in an Overlapping Generations Model with Spatial Separation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(7), pages 1741-1758, October.

  4. James B. Bullard & Bruce Smith, 2002. "Intermediaries and payments instruments," Working Papers 2002-006, Federal Reserve Bank of St. Louis.

    Cited by:

    1. Gabriele Camera & Yiting Li, 2008. "Another Example of a Credit System that Co‐Exists with Money," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(6), pages 1295-1308, September.
    2. David Andolfatto & Ed Nosal, 2003. "A Theory of Money and Banking," Macroeconomics 0310003, University Library of Munich, Germany.
    3. Kahn, Charles M. & Roberds, William, 2007. "Transferability, finality, and debt settlement," Journal of Monetary Economics, Elsevier, vol. 54(4), pages 955-978, May.
    4. Warren E. Weber, 2003. "Interbank payments relationships in the antebellum United States: evidence from Pennsylvania," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 27(Sum), pages 2-16.
    5. Allen Head & Junfeng Qiu, 2007. "Elastic Money, Inflation, And Interest Rate Policy," Working Paper 1152, Economics Department, Queen's University.
    6. Ghossoub, Edgar A. & Reed, Robert R., 2014. "The cost of capital, asset prices, and the effects of monetary policy," Journal of Macroeconomics, Elsevier, vol. 42(C), pages 211-228.
    7. James B. Bullard & Aarti Singh, 2016. "Incomplete Credit Markets and Monetary Policy with Heterogeneous Labor Supply : a presentation at Bank of Korea 2016 Conference, Employment and Growth, Seoul, Korea, May 30, 2016," Speech 270, Federal Reserve Bank of St. Louis.
    8. Xavier Cuadras Morató, 2005. "Circulation of Private Notes during a Currency Shortage," Working Papers 164, Barcelona School of Economics.
    9. Bullard, James & Smith, Bruce D., 2003. "The value of inside and outside money," Journal of Monetary Economics, Elsevier, vol. 50(2), pages 389-417, March.
    10. Peck, James & Spear, Stephen E., 2003. "Introduction to a Festschrift for Karl Shell," Journal of Economic Theory, Elsevier, vol. 109(2), pages 153-155, April.
    11. Junfeng Qiu, 2011. "Bank money, aggregate liquidity, and asset prices," Annals of Economics and Finance, Society for AEF, vol. 12(2), pages 295-346, November.
    12. Azariadis, Costas & Bullard, James & Singh, Aarti & Suda, Jacek, 2015. "Incomplete Credit Markets and Monetary Policy," Working Papers 2015-12, University of Sydney, School of Economics, revised Feb 2019.
    13. Kahn, Charles M. & Roberds, William, 2009. "Why pay? An introduction to payments economics," Journal of Financial Intermediation, Elsevier, vol. 18(1), pages 1-23, January.

  5. Stacey L. Schreft & Bruce Smith, 2001. "The conduct of monetary policy with a shrinking stock of government debt," Research Working Paper RWP 01-09, Federal Reserve Bank of Kansas City.

    Cited by:

    1. Joydeep Bhattacharya & Joseph H. Haslag & Antoine Martin, 2005. "Heterogeneity, Redistribution, And The Friedman Rule," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 46(2), pages 437-454, May.
    2. Gaetano Antinolfi & Todd Keister, 2003. "Discount Window Policy, Banking Crises, and Indeterminacy of Equilibrium," Working Papers 0305, Centro de Investigacion Economica, ITAM.
    3. Rangan Gupta, 2005. "Costly State Monitoring and Reserve Requirements," Annals of Economics and Finance, Society for AEF, vol. 6(2), pages 263-288, November.
    4. Machicado, Carlos Gustavo, 2008. "Liquidity shocks and the dollarization of a banking system," Journal of Macroeconomics, Elsevier, vol. 30(1), pages 369-381, March.
    5. Tetsuo Ono, 2020. "Fiscal rules in a monetary economy: Implications for growth and welfare," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 22(1), pages 190-219, February.
    6. Jung, Kuk Mo, 2016. "Uncertainty-Induced Dynamic Inefficiency and the Optimal Inflation Rate," MPRA Paper 69715, University Library of Munich, Germany.
    7. Carlos Gustavo Machicado, 2007. "Growth and Banking Structure in a Partially Dollarized Economy," Development Research Working Paper Series 02/2007, Institute for Advanced Development Studies.
    8. Joseph H. Haslag & Antoine Martin, 2007. "Optimality of the Friedman Rule in an Overlapping Generations Model with Spatial Separation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(7), pages 1741-1758, October.
    9. Eisei Ohtaki, 2014. "Asymmetric liquidity shocks and optimal monetary policy," Economics Bulletin, AccessEcon, vol. 34(2), pages 1068-1080.
    10. Joseph Haslag & Chao Gu, 2012. "Unconventional Optimal Repurchase Agreements," 2012 Meeting Papers 431, Society for Economic Dynamics.
    11. Huber, Samuel & Kim, Jaehong, 2020. "An overlapping generations model for monetary policy analysis," European Economic Review, Elsevier, vol. 125(C).
    12. Chao Gu & Joseph Haslag, 2014. "Unconventional Optimal Open Market Purchases," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 17(3), pages 543-558, July.
    13. Lukas Altermatt & Christian Wipf, 2020. "Liquidity, the Mundell-Tobin Effect, and the Friedman Rule," Diskussionsschriften dp2013, Universitaet Bern, Departement Volkswirtschaft.
    14. Edda Claus & Mardi Dungey & Renee Fry, 2006. "Monetary Policy In Illiquid Markets: Options For A Small Open Economy," CAMA Working Papers 2006-17, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    15. Chao Gu & Joseph Haslag, 2011. "Endogenous Credit Cycles," Working Papers 1114, Department of Economics, University of Missouri.
    16. Eisei Ohtaki, 2013. "Asymmetric Liquidity Shocks and Optimality of the Freidman Rule," Working Papers e058, Tokyo Center for Economic Research.
    17. Juan Carlos Medina Guirado, 2020. "Unconventional monetary policy and credit market activity," Estudios Regionales en Economía, Población y Desarrollo. Cuadernos de Trabajo de la Universidad Autónoma de Ciudad Juárez. 57, Cuerpo Académico 41 de la Universidad Autónoma de Ciudad Juárez, revised 04 Jan 2020.
    18. Stacey Schreft & Bruce Smith, 2008. "The social value of risk-free government debt," Annals of Finance, Springer, vol. 4(2), pages 131-155, March.
    19. Eisei Ohtaki, 2016. "Optimality of the Friedman rule under ambiguity," Working Papers e103, Tokyo Center for Economic Research.
    20. Eisei Ohtaki, 2023. "Climate change, financial intermediation, and monetary policy," Working Papers e179, Tokyo Center for Economic Research.

  6. James B. Bullard & Bruce Smith, 2001. "The value of inside and outside money," Working Papers 2000-027, Federal Reserve Bank of St. Louis.

    Cited by:

    1. Carolyn Sissoko, 2007. "Why Inside Money Matters," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(8), pages 2097-2105, December.
    2. Sissoko, Carolyn, 2007. "An Idealized View of Financial Intermediation," Economics Discussion Papers 2007-16, Kiel Institute for the World Economy (IfW Kiel).
    3. Ghossoub, Edgar A. & Reed, Robert R., 2014. "The cost of capital, asset prices, and the effects of monetary policy," Journal of Macroeconomics, Elsevier, vol. 42(C), pages 211-228.
    4. James B. Bullard & Aarti Singh, 2016. "Incomplete Credit Markets and Monetary Policy with Heterogeneous Labor Supply : a presentation at Bank of Korea 2016 Conference, Employment and Growth, Seoul, Korea, May 30, 2016," Speech 270, Federal Reserve Bank of St. Louis.
    5. Bullard, James & Smith, Bruce D., 2003. "Intermediaries and payments instruments," Journal of Economic Theory, Elsevier, vol. 109(2), pages 172-197, April.
    6. Xavier Cuadras Morató, 2005. "Circulation of Private Notes during a Currency Shortage," Working Papers 164, Barcelona School of Economics.
    7. Bullard, James & Smith, Bruce D., 2003. "The value of inside and outside money," Journal of Monetary Economics, Elsevier, vol. 50(2), pages 389-417, March.
    8. Jia, Pengfei, 2021. "Trust Shocks, Financial Crises, and Money," MPRA Paper 106343, University Library of Munich, Germany.
    9. Marko Backovic & Zoran Popovic, 2012. "The Analysis Of Model Of General Economic Equilibrium And Financial Instability Of Economic System," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 8(1), pages 63-85.
    10. David C. Mills, 2007. "Imperfect monitoring and the discounting of inside money," Finance and Economics Discussion Series 2007-58, Board of Governors of the Federal Reserve System (U.S.).
    11. Costas Azariadis & James B. Bullard & Bruce Smith, 2000. "Private and public circulating liabilities," Working Papers 2000-012, Federal Reserve Bank of St. Louis.
    12. Li, Yan, 2009. "The theory of fiat money and private money as alternative media of exchange," International Review of Economics & Finance, Elsevier, vol. 18(4), pages 568-582, October.
    13. Hanna Armelius & Carl Andreas Claussen & Scott Hendry, 2020. "Is Central Bank Currency Fundamental to the Monetary System?," Discussion Papers 2020-2, Bank of Canada.
    14. Amy Hongfei Sun, 2007. "Banking, Inside Money And Outside Money," Working Paper 1146, Economics Department, Queen's University.
    15. Mr. Marco Arnone & Mr. Luca Bandiera, 2004. "Monetary Policy, Monetary Areas, and Financial Development with Electronic Money," IMF Working Papers 2004/122, International Monetary Fund.
    16. Lacker, Jeffrey M. & Weinberg, John A., 2003. "Payment economics: studying the mechanics of exchange," Journal of Monetary Economics, Elsevier, vol. 50(2), pages 381-387, March.

  7. Marco A. Espinosa-Vega & Bruce Smith, 2001. "Socially excessive bankruptcy costs and the benefits of interest rate ceilings on loans," FRB Atlanta Working Paper 2001-27, Federal Reserve Bank of Atlanta.

    Cited by:

    1. Sadia Afrin & Ilias Skamnelos & Waheduzzaman Sarder, 2022. "Drivers of intermediation costs, financial repression and stability," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 46(2), pages 283-307, April.
    2. Godwin Olasehinde-Williams & Oktay Özkan, 2022. "Is interest rate uncertainty a predictor of investment volatility? evidence from the wild bootstrap likelihood ratio approach," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 46(3), pages 507-521, July.
    3. Mr. Etibar Jafarov & Mr. Rodolfo Maino & Mr. Marco Pani, 2019. "Financial Repression is Knocking at the Door, Again," IMF Working Papers 2019/211, International Monetary Fund.
    4. Arend, Mario, 2009. "A Small Open Economy with Heterogenous Agents Facing Interest Rate Ceilings on Loans," MPRA Paper 19427, University Library of Munich, Germany.
    5. Robert Mayer, 2013. "When and Why Usury Should be Prohibited," Journal of Business Ethics, Springer, vol. 116(3), pages 513-527, September.

  8. Mr. Mohsin S. Khan & Mr. Abdelhak S Senhadji & Mr. Bruce D. Smith, 2001. "Inflation and Financial Depth," IMF Working Papers 2001/044, International Monetary Fund.

    Cited by:

    1. Gennady Bilych, 2013. "Is It Possible to Create Goods from Thin Air Using Money and an Expenditure Multiplier?," Business and Economic Research, Macrothink Institute, vol. 3(2), pages 156-172, December.
    2. Ho, Sin-Yu & Njindan Iyke, Bernard, 2018. "Short- and Long-term Impact of Trade Openness on Financial Development in Sub-Saharan Africa," MPRA Paper 84272, University Library of Munich, Germany.
    3. Mr. Mohsin S. Khan & Mr. Axel Schimmelpfennig, 2006. "Inflation in Pakistan: Money or Wheat?," IMF Working Papers 2006/060, International Monetary Fund.
    4. Huang, Ho-Chuan (River) & Yeh, Chih-Chuan, 2017. "Level, structure, and volatility of financial development and inflation targeting," Journal of Empirical Finance, Elsevier, vol. 44(C), pages 108-124.
    5. Jude Eggoh, 2012. "Inflation Effects on Finance-Growth Link: A Panel Smooth Threshold Approach," International Economic Journal, Taylor & Francis Journals, vol. 26(4), pages 711-725, June.
    6. J. François OUTREVILLE, 1999. "Financial Development, Human Capital And Political Stability," UNCTAD Discussion Papers 142, United Nations Conference on Trade and Development.
    7. Yann Algan & Xavier Ragot, 2005. "Monetary Policy with Heterogenous Agents and Credit Constraints," Sciences Po publications 2005 - 45, Sciences Po.
    8. Shagas, Natalia (Шагас, Наталья) & Bojechkova, A.V. (Божечкова, А.В.) & Perevyshin, Y.N. (Перевышин, Ю.Н.) & Perevyshina, E.A. (Перевышина, Е.А.), 2016. "Modeling of State Influence on the Processes of Economic Growth [Моделирование Воздействия Государства На Процессы Экономического Роста]," Working Papers 2132, Russian Presidential Academy of National Economy and Public Administration.
    9. Omay, Tolga & Öznur Kan, Elif, 2010. "Re-examining the threshold effects in the inflation-growth nexus with cross-sectionally dependent non-linear panel: Evidence from six industrialized economies," Economic Modelling, Elsevier, vol. 27(5), pages 996-1005, September.
    10. Alicia García Herrero & Sonsoles Gallego Herrero & Jesús Saurina Salas, 2003. "The Asian and European Banking Systems: The case of Spain in the quest for development and stability," Finance 0304007, University Library of Munich, Germany.
    11. Mihasonirina Andrianaivo & Charles Amo Yartey, 2009. "Understanding the Growth of African Financial Markets," IMF Working Papers 2009/182, International Monetary Fund.
    12. Adamopoulos Antonios, 2010. "Credit Market Development and Economic Growth: An Empirical Analysis for Ireland," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 3-18.
    13. Valev, Neven & Buyukkarabacak, Berrak & Beck, Thorsten & Rioja, Felix, 2009. "Who Gets the Credit? And Does It Matter? Household vs. Firm Lending across Countries," CEPR Discussion Papers 7400, C.E.P.R. Discussion Papers.
    14. Halil D. Kaya, 2021. "The Impact Of The 2008 Global Crisis On The Efficiency Of The Financial System," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 5, pages 86-97, October.
    15. Ceyhun Elgin & Burak Uras, 2013. "Is informality a barrier to financial development?," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 4(3), pages 309-331, August.
    16. A.R. Kemal & Abdul Qayyum & Muhammad Nadim Hanif, 2007. "Financial Development and Economic Growth: Evidence from a Heterogeneous Panel of High Income Countries," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 12(1), pages 1-34, Jan-Jun.
    17. Kremer, Stephanie & Bick, Alexander & Nautz, Dieter, 2009. "Inflation and growth: new evidence from a dynamic panel threshold analysis," Discussion Papers 2009/9, Free University Berlin, School of Business & Economics.
    18. Shahbaz, Muhammad & Mallick, Hrushikesh & Kumar, Mantu & Hammoudeh, Shawkat, 2017. "Is globalization detrimental to financial development? Further evidence from a very large emerging economy with significant orientation towards policies," MPRA Paper 78805, University Library of Munich, Germany, revised 24 Apr 2017.
    19. Burdekin, Richard C.K. & Denzau, Arthur T. & Keil, Manfred W. & Sitthiyot, Thitithep & Willett, Thomas D., 2004. "When does inflation hurt economic growth? Different nonlinearities for different economies," Journal of Macroeconomics, Elsevier, vol. 26(3), pages 519-532, September.
    20. Max Gillman & Mark N. Harris, 2004. "Inflation, Financial Development and Endogenous Growth," Monash Econometrics and Business Statistics Working Papers 24/04, Monash University, Department of Econometrics and Business Statistics.
    21. Afangideh U. J. & Garbobiya T. S. & Umar F. B. & Usman N., 2020. "The Impact of Inflation on Financial Sector Development: Evidence from Nigeria," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 12(2), pages 1-56, February.
    22. Davtyan Azat, 2014. "GMM Estimation and Shapiro-Francia Normality Test: A Case Study of CEE Economies," International Journal of Economic Sciences, Prague University of Economics and Business, vol. 2014(1), pages 12-26.
    23. Ciżkowicz, Piotr & Rzońca, Andrzej, 2012. "Does inflation harm corporate investment? Empirical evidence from OECD countries," Economics Discussion Papers 2012-63, Kiel Institute for the World Economy (IfW Kiel).
    24. Tarishi Matsuoka & Makoto Watanabe, 2017. "Banking Panics and Liquidity in a Monetary Economy," Tinbergen Institute Discussion Papers 17-091/VII, Tinbergen Institute.
    25. World Bank, 2016. "Jordan Economic Monitor, Fall 2016," World Bank Publications - Reports 25463, The World Bank Group.
    26. Eduardo Levy-Yeyati, 2011. "Exchange Rate Regimes," Business School Working Papers 2011-02, Universidad Torcuato Di Tella.
    27. Levy Yeyati, Eduardo & Sturzenegger, Federico, 2010. "Monetary and Exchange Rate Policies," Handbook of Development Economics, in: Dani Rodrik & Mark Rosenzweig (ed.), Handbook of Development Economics, edition 1, volume 5, chapter 0, pages 4215-4281, Elsevier.
    28. Jean-Pierre Allegret & Sana Azzabi, 2014. "Intégration financière internationale et croissance économique dans les pays émergents et en développement : le canal du développement financier," Post-Print hal-01385944, HAL.
    29. Ketteni, Elena & Kottaridi, Constantina, 2019. "Credit market deregulation and economic growth: Further insights using a marginal integration approach," Journal of Macroeconomics, Elsevier, vol. 62(C).
    30. Emmanuel Nii Abbey, 2013. "Inflation and Financial Development: Evidence," American Journal of Economics and Business Administration, Science Publications, vol. 4(4), pages 227-236, July.
    31. Kumar Debasis Dutta & Mallika Saha, 2023. "Does financial development cause sustainable development? A PVAR approach," Economic Change and Restructuring, Springer, vol. 56(2), pages 879-917, April.
    32. Markus Arpa & Thomas Reininger & Zoltan Walko, 2005. "Can Banking Intermediation in the Central and Eastern European Countries Ever Catch up with the Euro Area?," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue 2, pages 110-133.
    33. Mr. Saleh M. Nsouli & Mr. Norbert Funke, 2003. "The New Partnership for Africa's Development (NEPAD) Opportunities and Challenges," IMF Working Papers 2003/069, International Monetary Fund.
    34. Alexandros Kontonikas & Alberto Montagnoli & Nicola Spagnolo, 2006. "Stock Returns and Inflation: The Impact of Inflation Targeting," Working Papers 2005_11, Business School - Economics, University of Glasgow.
    35. Alexander Herman & Mr. Alexander D Klemm, 2017. "Financial Deepening in Mexico," IMF Working Papers 2017/019, International Monetary Fund.
    36. Paula Hernandez-Verme, 2004. "Inflation, growth and exchange rate regimes in small open economies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 24(4), pages 839-856, November.
    37. Khee Giap Tan & Sasidaran Gopalan & Phuong Anh Nguyen Le, 2017. "Financial Deepening and Economic Growth in Transition Economies of Southeast Asia: A Geweke Causality Analysis," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 20(03), pages 1-25, September.
    38. Halil D. Kaya, 2021. "The Impact Of The 2008 Global Crisis On The Depth Of The Financial System," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 5, pages 5-18, October.
    39. Massomeh Hajilee & Omar M. Al Nasser, 2017. "Financial Depth and Exchange Rate Volatility," The American Economist, Sage Publications, vol. 62(1), pages 19-30, March.
    40. Ehigiamusoe, Kizito Uyi & Vinitha Guptan & Narayanan, Suresh, 2019. "The effects of income and inflation on financial development: Evidence from heterogeneous panels," Economics Discussion Papers 2019-11, Kiel Institute for the World Economy (IfW Kiel).
    41. López-Laborda, Julio & Peña, Guillermo, 2017. "Does financial VAT affect the size of the financial sector?," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 11, pages 1-28.
    42. Nasir, Iqbal & Saima, Nawaz, 2010. "Investment, inflation and economic growth nexus," MPRA Paper 27163, University Library of Munich, Germany.
    43. Akhand Akhtar Hossain, 2009. "Central Banking and Monetary Policy in the Asia-Pacific," Books, Edward Elgar Publishing, number 12777.
    44. Matsuoka, Tarishi & Watanabe, Makoto, 2019. "Banking crises and liquidity in a monetary economy," Journal of Economic Dynamics and Control, Elsevier, vol. 108(C).
    45. Assenza, Tiziana & Agliari, Anna & Delli Gatti, Domenico & Santoro, Emiliano, 2009. "Borrowing constraints and complex dynamics in an OLG framework," Journal of Economic Behavior & Organization, Elsevier, vol. 72(2), pages 656-669, November.
    46. John H. Boyd & Bruce A. Champ, 2003. "Inflation and financial market performance: what have we learned in the last ten years?," Working Papers (Old Series) 0317, Federal Reserve Bank of Cleveland.
    47. Rishod Davlatov & Solomon Boamah & Mukut Sikder & Xuecheng Dou, 2023. "Import and Export of Beef Products in Tajikistan and Its Impact on the Domestic Market," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 15(7), pages 1-68, July.
    48. Chris Doucouliagos & Jakob de Haan & Jan-Egbert Sturm, 2022. "What drives financial development? A Meta-regression analysis [A new database of financial reforms]," Oxford Economic Papers, Oxford University Press, vol. 74(3), pages 840-868.
    49. Cottarelli, Carlo & Dell'Ariccia, Giovanni & Vladkova-Hollar, Ivanna, 2005. "Early birds, late risers, and sleeping beauties: Bank credit growth to the private sector in Central and Eastern Europe and in the Balkans," Journal of Banking & Finance, Elsevier, vol. 29(1), pages 83-104, January.
    50. Adolfo Barajas & Ralph Chami & Seyed Reza Yousefi, 2016. "The Finance and Growth Nexus Re-Examined: Do All Countries Benefit Equally?," Journal of Banking and Financial Economics, University of Warsaw, Faculty of Management, vol. 1(5), pages 5-38, June.
    51. Demirguc-Kunt, Asli & Levine, Ross, 1999. "Bank-based and market-based financial systems - cross-country comparisons," Policy Research Working Paper Series 2143, The World Bank.
    52. López-Laborda, Julio & Peña, Guillermo, 2016. "Is financial VAT neutral to financial sector size?," Economics Discussion Papers 2016-31, Kiel Institute for the World Economy (IfW Kiel).
    53. Paula Hernandez-Verme, 2009. "Inflation, Growth and Exchange Rate Regimes in Small Open Economies," Department of Economics and Finance Working Papers EC200906, Universidad de Guanajuato, Department of Economics and Finance.
    54. Mohsin S. Khan & Axel Schimmelpfennig, 2006. "Inflation in Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 45(2), pages 185-202.
    55. Ayyagari, Meghana & Beck, Thorsten & Demirguc-Kunt, Asl, 2003. "Small and medium enterprises across the globe : a new database," Policy Research Working Paper Series 3127, The World Bank.
    56. Eggoh, Jude C. & Khan, Muhammad, 2014. "On the nonlinear relationship between inflation and economic growth," Research in Economics, Elsevier, vol. 68(2), pages 133-143.
    57. Bhattacharya, Joydeep, 2003. "Monetary policy and the distribution of income," ISU General Staff Papers 200304220700001192, Iowa State University, Department of Economics.
    58. Huang, Ho-Chuan & Lin, Shu-Chin & Kim, Dong-Hyeon & Yeh, Chih-Chuan, 2010. "Inflation and the finance-growth nexus," Economic Modelling, Elsevier, vol. 27(1), pages 229-236, January.
    59. Mr. Amat Adarov & Mr. Robert Tchaidze, 2011. "Development of Financial Markets in Central Europe: the Case of the CE4 Countries," IMF Working Papers 2011/101, International Monetary Fund.
    60. Qayyum, Abdul & Siddiqui, Rehana & Hanif, Muhammad Nadim, 2004. "Financial Development and Economic Growth: Evidence from Heterogeneous Panel Data of Low Income Countries," MPRA Paper 23431, University Library of Munich, Germany.
    61. International Monetary Fund, 2005. "Republic of Kazakhstan: Selected Issues," IMF Staff Country Reports 2005/240, International Monetary Fund.
    62. Ratna Sahay & Martin Cihák & Papa N’Diaye & Adolfo Barajas & Ran Bi & Diana Ayala & Yuan Gao & Annette Kyobe & Lam Nguyen & Christian Saborowski & Katsiaryna Svirydzenka & Seyed Reza Yousefi, 2015. "Repensar la profundización financiera: estabilidad y crecimiento en los mercados emergentes," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 17(33), pages 73-107, July-Dece.
    63. Athanasios Vazakidis & Antonios Adamopoulos, 2009. "Credit Market Development and Economic Growth," American Journal of Economics and Business Administration, Science Publications, vol. 1(1), pages 34-40, March.
    64. Gerard Tchouassi, 2016. "Do Economic Reforms Spur Bancarisation Rate in the CEMAC Region? Empirical Analysis," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 8(4), pages 123-131, April.
    65. Lucía Cuadro Sáez & Sonsoles Gallego Herrero & Alicia García Herrero, 2003. "Why Do Countries Develop More Financially Than Others? The Role Of The Central Bank And Banking Supervision," Finance 0304006, University Library of Munich, Germany.
    66. Celil Aydin & Fatma Gundogdu Odabasioglu, 2017. "Financial Development and Economic Growth: The Case of Turkey and Romania," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 7(6), pages 23-38, June.
    67. Ahiadorme, Johnson Worlanyo, 2022. "Monetary policy in search of macroeconomic stability and inclusive growth," Research in Economics, Elsevier, vol. 76(4), pages 308-324.
    68. Kizito Uyi Ehigiamusoe & Vinitha Guptan & Suresh Narayanan, 2021. "Rethinking the impact of GDP on financial development: Evidence from heterogeneous panels," African Development Review, African Development Bank, vol. 33(1), pages 1-13, March.
    69. Toprak, Metin, 2001. "Yükselen Piyasalarda Finansal Kriz [Financial Crises in Emerging Markets]," MPRA Paper 9092, University Library of Munich, Germany, revised 2001.
    70. Ghossoub, Edgar A., 2023. "Economic growth, inflation, and banking sector competition," Economic Modelling, Elsevier, vol. 129(C).
    71. HAMI Mahyar, 2017. "The Effect Of Inflation On Financial Development Indicators In Iran (2000-2015)," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 12(2), pages 53-62, August.
    72. M. Kabir Hassan & Benito Sanchez, 2007. "Efficiency Determinants and Dynamic Efficiency Changes in Latin American Banking Industries," NFI Working Papers 2007-WP-32, Indiana State University, Scott College of Business, Networks Financial Institute.
    73. Morell, Joe & Shaw, Frances & Lyons, Paul & McCann, Fergal, 2022. "Rising interest rates and higher inflation: implications for the banking sector," Financial Stability Notes 15/FS/22, Central Bank of Ireland.
    74. Billmeier, Andreas & Massa, Isabella, 2009. "What drives stock market development in emerging markets--institutions, remittances, or natural resources?," Emerging Markets Review, Elsevier, vol. 10(1), pages 23-35, March.

  9. Beatrix Paal & Bruce D. Smith, 2001. "The sub-optimality of the Friedman rule and the optimum quantity of money," CERS-IE WORKING PAPERS 0113, Institute of Economics, Centre for Economic and Regional Studies.

    Cited by:

    1. Ennis, Huberto M. & Keister, Todd, 2003. "Economic growth, liquidity, and bank runs," Journal of Economic Theory, Elsevier, vol. 109(2), pages 220-245, April.
    2. Joydeep Bhattacharya & Joseph H. Haslag & Antoine Martin, 2005. "The Tobin effect and the Friedman rule," Staff Reports 224, Federal Reserve Bank of New York.
    3. Akyol, Ahmet, 2004. "Optimal monetary policy in an economy with incomplete markets and idiosyncratic risk," Journal of Monetary Economics, Elsevier, vol. 51(6), pages 1245-1269, September.
    4. Khan, Mohsin S. & Senhadji, Abdelhak S. & Smith, Bruce D., 2006. "Inflation And Financial Depth," Macroeconomic Dynamics, Cambridge University Press, vol. 10(2), pages 165-182, April.
    5. Joseph H. Haslag & Joydeep Bhattacharya & Antoine Martin & Rajesh Singh, 2004. "Who is Afraid of the Friedman Rule?," Working Papers 0421, Department of Economics, University of Missouri, revised 21 Dec 2004.
    6. Firouz Gahvari, 2009. "Friedman Rule in a Model with Endogenous Growth and Cash-in-advance Constraint," CESifo Working Paper Series 2708, CESifo.
    7. Bruce D. Smith & Beatrix Paal & Ke Wang, 2005. "Monopoly versus Competition in Banking: Some Implications for Growth and Welfare," 2005 Meeting Papers 435, Society for Economic Dynamics.
    8. Smith, Bruce D., 2001. "Introduction to Monetary and Financial Arrangements," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 1-21, July.
    9. KOBAYASHI Keiichiro, 2012. "Banking in the Lagos-Wright Monetary Economy," Discussion papers 12054, Research Institute of Economy, Trade and Industry (RIETI).
    10. Joseph H. Haslag & Antoine Martin, 2007. "Optimality of the Friedman Rule in an Overlapping Generations Model with Spatial Separation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(7), pages 1741-1758, October.
    11. Bhattacharya, Joydeep & Singh, Rajesh, 2006. "On the Usefulness of the Constrained Planning Problem in a Model of Money," Staff General Research Papers Archive 12660, Iowa State University, Department of Economics.
    12. Joe Haslag & Joydeep Bhattacharya & Steven Russell, 2003. "Understanding the Roles of Money, or When is the Friedman Rule Optimal, and Why?," Working Papers 0301, Department of Economics, University of Missouri.
    13. Edgar A. Ghossoub, 2013. "Banking Competition: Implications for Welfare and Monetary Policy," Working Papers 0182eco, College of Business, University of Texas at San Antonio.
    14. Bhattacharya, Joydeep & Haslag, Joseph & Martin, Antoine, 2009. "Optimal monetary policy and economic growth," European Economic Review, Elsevier, vol. 53(2), pages 210-221, February.
    15. Ariyanto, Anto, 2017. "CRITICAL REVIEW : Inflasi dan Pertumbuhan Jangka Panjang : Sebuah Teori Baru Keynesian dan Bukti semiparametrik Lanjut," INA-Rxiv 5ydqg, Center for Open Science.
    16. Zhou, Ge, 2011. "Money and Long-run Growth," MPRA Paper 33765, University Library of Munich, Germany.
    17. Stacey Schreft & Bruce Smith, 2008. "The social value of risk-free government debt," Annals of Finance, Springer, vol. 4(2), pages 131-155, March.
    18. Eisei Ohtaki, 2016. "Optimality of the Friedman rule under ambiguity," Working Papers e103, Tokyo Center for Economic Research.
    19. Boel, Paola & Camera, Gabriele, 2006. "Efficient monetary allocations and the illiquidity of bonds," Journal of Monetary Economics, Elsevier, vol. 53(7), pages 1693-1715, October.
    20. Max Gillman & Mark N Harris & Michal Kejak, 2007. "The Interaction of Inflation and Financial Development with Endogenous Growth," Money Macro and Finance (MMF) Research Group Conference 2006 29, Money Macro and Finance Research Group.
    21. Bhattacharya, Joydeep & Singh, Rajesh, 2007. "Optimal choice of monetary instruments in an economy with real and liquidity shocks," ISU General Staff Papers 200705030700001160, Iowa State University, Department of Economics.
    22. Joseph H. Haslag & Joydeep Bhattacharya & Antoine Martin, 2004. "Sub-Optimality of the Friedman Rule in Townsends Turnpike and Limited Communication Models of money: Do finite lives and initial dates matter?," Working Papers 0415, Department of Economics, University of Missouri, revised 21 Dec 2004.

  10. Marco A. Espinosa-Vega & Bruce Smith & Chong K. Yip, 2000. "Barriers to international capital flows: when, why, how big, and for whom?," FRB Atlanta Working Paper 2000-16, Federal Reserve Bank of Atlanta.

    Cited by:

    1. Jose Ricardo da Costa e Silva & Ryan A. Compton, 2008. "Capital Flows and Destabilizing Policy in Latin America," Economia, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics], vol. 9(3), pages 491-517.
    2. Gary Dymski, 2011. "The International Debt Crisis," Chapters, in: Jonathan Michie (ed.), The Handbook of Globalisation, Second Edition, chapter 6, Edward Elgar Publishing.
    3. Laurent Gheeraert & Joffrey Malek Mansour, 2005. "On the impact of private capital flows on economic growth and development," Working Papers CEB 05-003.RS, ULB -- Universite Libre de Bruxelles.

  11. Costas Azariadis & James B. Bullard & Bruce Smith, 2000. "Private and public circulating liabilities," Working Papers 2000-012, Federal Reserve Bank of St. Louis.

    Cited by:

    1. Claudio Vitari, 2014. "Electronic currencies for purposive degrowth?," Working paper serie RMT - Grenoble Ecole de Management hal-00975432, HAL.
    2. Cyril Monnet & Daniel R. Sanches, 2015. "Private money and banking regulation," Working Papers 15-19, Federal Reserve Bank of Philadelphia.
    3. Gabriele Camera & Yiting Li, 2008. "Another Example of a Credit System that Co‐Exists with Money," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 40(6), pages 1295-1308, September.
    4. Giuseppe Mastromatteo & Luigi Ventura, 2007. "The origin of money: A survey of the contemporary literature," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 54(2), pages 195-224, June.
    5. William D. Lastrapes & George Selgin, 2012. "Banknotes And Economic Growth," Scottish Journal of Political Economy, Scottish Economic Society, vol. 59(4), pages 390-418, September.
    6. Monnet, Cyril, 2002. "Optimal public money," Working Paper Series 159, European Central Bank.
    7. Cyril Monnet & Daniel R. Sanches, 2012. "Private liquidity and banking regulation," Working Papers 12-11, Federal Reserve Bank of Philadelphia.
    8. Daniel Sanches, 2016. "On The Welfare Properties Of Fractional Reserve Banking," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 57(3), pages 935-954, August.
    9. Daniel Sanches, 2016. "On the Inherent Instability of Private Money," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 20, pages 198-214, April.
    10. Daniel R. Sanches, 2013. "Banking crises and the role of bank coalitions," Working Papers 13-28, Federal Reserve Bank of Philadelphia.
    11. Jos van Bommel & Augusto Hasman & Margarita Samartin, 2011. "Financial Intermediation in an Overlapping Generations Model with Transaction Costs," LSF Research Working Paper Series 11-8, Luxembourg School of Finance, University of Luxembourg.
    12. Ghossoub, Edgar A. & Reed, Robert R., 2014. "The cost of capital, asset prices, and the effects of monetary policy," Journal of Macroeconomics, Elsevier, vol. 42(C), pages 211-228.
    13. James B. Bullard & Aarti Singh, 2016. "Incomplete Credit Markets and Monetary Policy with Heterogeneous Labor Supply : a presentation at Bank of Korea 2016 Conference, Employment and Growth, Seoul, Korea, May 30, 2016," Speech 270, Federal Reserve Bank of St. Louis.
    14. Daniel R. Sanches, 2015. "On the welfare properties of fractional reserve banking," Working Papers 15-20, Federal Reserve Bank of Philadelphia.
    15. Bullard, James & Smith, Bruce D., 2003. "Intermediaries and payments instruments," Journal of Economic Theory, Elsevier, vol. 109(2), pages 172-197, April.
    16. Bullard, James & Smith, Bruce D., 2003. "The value of inside and outside money," Journal of Monetary Economics, Elsevier, vol. 50(2), pages 389-417, March.
    17. James B. Bullard & Bruce Smith, 2001. "The value of inside and outside money: expanded version," Working Papers 2001-011, Federal Reserve Bank of St. Louis.
    18. Gomis-Porqueras, Pere & Haro, Àlex, 2009. "A geometric description of a macroeconomic model with a center manifold," Journal of Economic Dynamics and Control, Elsevier, vol. 33(6), pages 1217-1235, June.
    19. Claudio Vitari, 2014. "Can virtual currencies drive sustainable de-growth?," Grenoble Ecole de Management (Post-Print) halshs-01924234, HAL.
    20. David C. Mills, 2007. "Imperfect monitoring and the discounting of inside money," Finance and Economics Discussion Series 2007-58, Board of Governors of the Federal Reserve System (U.S.).
    21. Li, Yan, 2009. "The theory of fiat money and private money as alternative media of exchange," International Review of Economics & Finance, Elsevier, vol. 18(4), pages 568-582, October.
    22. Claudio Vitari, 2014. "Can virtual currencies drive sustainable de-growth?," Post-Print halshs-01924234, HAL.
    23. Azariadis, Costas & Bullard, James & Singh, Aarti & Suda, Jacek, 2015. "Incomplete Credit Markets and Monetary Policy," Working Papers 2015-12, University of Sydney, School of Economics, revised Feb 2019.
    24. Nobuhiro Kiyotaki & John Moore, 2002. "Evil Is the Root of All Money," American Economic Review, American Economic Association, vol. 92(2), pages 62-66, May.
    25. Claudio Vitari, 2016. "Electronic Currencies: a literature review [Monnaies électroniques : a revue de la littérature]," Grenoble Ecole de Management (Post-Print) halshs-01924191, HAL.
    26. Claudio Vitari, 2014. "Electronic currencies for purposive degrowth?," Working Papers hal-00975432, HAL.
    27. Li, Yiting, 2006. "Banks, private money, and government regulation," Journal of Monetary Economics, Elsevier, vol. 53(8), pages 2067-2083, November.
    28. Claudio Vitari, 2016. "Electronic Currencies: a literature review [Monnaies électroniques : a revue de la littérature]," Post-Print halshs-01924191, HAL.
    29. Nobuhiro Kiyotaki & John Moore, 2018. "Inside Money and Liquidity," Working Papers 2018-8, Princeton University. Economics Department..
    30. Holthausen, Cornelia & Monnet, Cyril, 2003. "Money and payments: a modern perspective," Working Paper Series 245, European Central Bank.

  12. John H. Boyd & Pedro Gomis & Sungkyu Kwak & Bruce D. Smith, 2000. "A User's Guide to Banking Crises," Monash Economics Working Papers archive-36, Monash University, Department of Economics.

    Cited by:

    1. Daniel Kapp & Marco Vega, 2012. "Real Output Costs of Financial Crises: a Loss Distribution Approach," Documentos de Trabajo / Working Papers 2012-332, Departamento de Economía - Pontificia Universidad Católica del Perú.
    2. Ennis, Huberto M. & Keister, Todd, 2003. "Economic growth, liquidity, and bank runs," Journal of Economic Theory, Elsevier, vol. 109(2), pages 220-245, April.
    3. Boyd, John H & De Nicolo, Gianni & Smith, Bruce D, 2004. "Crises in Competitive versus Monopolistic Banking Systems," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 36(3), pages 487-506, June.
    4. Hoggarth, Glenn & Reis, Ricardo & Saporta, Victoria, 2002. "Costs of banking system instability: Some empirical evidence," Journal of Banking & Finance, Elsevier, vol. 26(5), pages 825-855, May.
    5. Huberto M. Ennis & Todd Keister, 2004. "Bank runs and investment decisions revisited," Working Paper 04-03, Federal Reserve Bank of Richmond.
    6. Gaetano Antinolfi & Todd Keister, 2003. "Discount Window Policy, Banking Crises, and Indeterminacy of Equilibrium," Working Papers 0305, Centro de Investigacion Economica, ITAM.
    7. Bruce D. Smith, 2002. "Monetary Policy, Banking Crises, and the Friedman Rule," American Economic Review, American Economic Association, vol. 92(2), pages 128-134, May.
    8. Smith, Bruce D., 2001. "Introduction to Monetary and Financial Arrangements," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 1-21, July.
    9. Caprio, Gerard & Honohan, Patrick, 2001. "Finance for Growth: Policy Choices in a Volatile World," MPRA Paper 9929, University Library of Munich, Germany.
    10. Russell W. Cooper & Dean Corbae, 2001. "Financial collapse and active monetary policy: a lesson from the Great Depression," Staff Report 289, Federal Reserve Bank of Minneapolis.
    11. Kapp, Daniel & Vega, Marco, 2012. "Real output costs of financial crises: a loss distribution approach," MPRA Paper 35706, University Library of Munich, Germany.
    12. Tarishi Matsuoka & Makoto Watanabe, 2017. "Banking Panics and Liquidity in a Monetary Economy," Tinbergen Institute Discussion Papers 17-091/VII, Tinbergen Institute.
    13. Jasmina Arifovic & Janet Hua Jiang, 2014. "Do Sunspots Matter? Evidence from an Experimental Study of Bank Runs," Staff Working Papers 14-12, Bank of Canada.
    14. KOBAYASHI Keiichiro, 2009. "A Monetary Model of Banking Crises," Discussion papers 09036, Research Institute of Economy, Trade and Industry (RIETI).
    15. Asli Demirgüç-Kunt & Ms. Enrica Detragiache, 2005. "Cross-Country Empirical Studies of Systemic Bank Distress: A Survey," IMF Working Papers 2005/096, International Monetary Fund.
    16. Arifovic, Jasmina & Jiang, Janet Hua, 2019. "Strategic uncertainty and the power of extrinsic signals– evidence from an experimental study of bank runs," Journal of Economic Behavior & Organization, Elsevier, vol. 167(C), pages 1-17.
    17. Hubert J. Kiss & Ismael Rodriguez-Lara & Alfonso Rosa-Garcia, 2020. "Who withdraws first? Line formation during bank runs," ThE Papers 20/02, Department of Economic Theory and Economic History of the University of Granada..
    18. Keiichiro Kobayashi, 2003. "A Theory of Banking Crises (Part 1)," Discussion papers 03016, Research Institute of Economy, Trade and Industry (RIETI).
    19. Ilan Goldfajn & Katherine Hennings & Hélio Mori, 2003. "Brazil’s Financial System: Resilience to Shocks, no Currency Substitution, but Struggling to Promote Growth," Working Papers Series 75, Central Bank of Brazil, Research Department.
    20. Chao Gu, 2010. "Asymmetric Information and Bank Runs," Working Papers 1005, Department of Economics, University of Missouri.
    21. Matsuoka, Tarishi & Watanabe, Makoto, 2019. "Banking crises and liquidity in a monetary economy," Journal of Economic Dynamics and Control, Elsevier, vol. 108(C).
    22. John H. Boyd & Bruce A. Champ, 2003. "Inflation and financial market performance: what have we learned in the last ten years?," Working Papers (Old Series) 0317, Federal Reserve Bank of Cleveland.
    23. Smith, Bruce D., 2001. "Banks, short-term debt and financial crises: theory, policy implications, and applications A comment," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 54(1), pages 73-83, June.
    24. Basabi Bhattacharya & Tanima Niyogi Sinha Roy, 2012. "Indicators of Banking Fragility in India: An Empirical Test," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 13(2), pages 265-290, September.
    25. Charles Calomiris, 2009. "Banking Crises and the Rules of the Game," NBER Working Papers 15403, National Bureau of Economic Research, Inc.
    26. Kobayashi, Keiichiro, 2007. "Forbearance impedes confidence recovery," Journal of Macroeconomics, Elsevier, vol. 29(1), pages 178-188, March.
    27. Keiichiro Kobayashi, 2003. "Deflation Caused by Bank Insolvency," Discussion papers 03022, Research Institute of Economy, Trade and Industry (RIETI).
    28. James Obilikwu, 2018. "The Imact of Capital, Concentration, Size and Liquidity on Banking Industry Performance in Nigeria," International Journal of Economics and Financial Issues, Econjournals, vol. 8(4), pages 54-60.
    29. Olga Andreeva, 2004. "Aggregate bankruptcy probabilities and their role in explaining banks’ loan losses," Working Paper 2004/02, Norges Bank.
    30. Keiichiro KOBAYASHI, 2005. "Forbearance Impedes Confidence Recovery (Revised)," Discussion papers 05002, Research Institute of Economy, Trade and Industry (RIETI).
    31. Aykut Kibritcioglu, 2002. "Monitoring Banking Sector Fragility," Macroeconomics 0206004, University Library of Munich, Germany, revised 17 Mar 2006.
    32. Aikman, David & Bridges, Jonathan & Burgess, Stephen & Galletly, Richard & Levina, Iren & O'Neill, Cian & Varadi, Alexandra, 2018. "Measuring risks to UK financial stability," Bank of England working papers 738, Bank of England.
    33. Corder, Matthew & Weale, Martin, 2011. "Banking crises and recessions: what can leading indicators tell us?," Discussion Papers 33, Monetary Policy Committee Unit, Bank of England.
    34. Hoerova, Marie, 2005. "Financial Deepening and Bank Runs," Working Papers 05-07, Cornell University, Center for Analytic Economics.
    35. Kibritcioglu, Aykut, 2002. "Excessive Risk-Taking, Banking Sector Fragility, and Banking Crises," Working Papers 02-0114, University of Illinois at Urbana-Champaign, College of Business.
    36. Charles W. Calomiris, 2007. "Bank Failures in Theory and History: The Great Depression and Other "Contagious" Events," NBER Working Papers 13597, National Bureau of Economic Research, Inc.
    37. Charles Calomiris & Joseph R. Mason, 2003. "How to Restructure Failed Banking Systems: Lessons from the U.S. in the 1930's and Japan in the 1990's," NBER Working Papers 9624, National Bureau of Economic Research, Inc.
    38. Doumpos, Michael & Gaganis, Chrysovalantis & Pasiouras, Fotios, 2015. "Central bank independence, financial supervision structure and bank soundness: An empirical analysis around the crisis," Journal of Banking & Finance, Elsevier, vol. 61(S1), pages 69-83.
    39. Raphael Solomon, 2004. "When Bad Things Happen to Good Banks: Contagious Bank Runs and Currency Crises," Staff Working Papers 04-18, Bank of Canada.
    40. Nargis Bharucha & Ellis W. Tallman, 2000. "Credit crunch or what? Australian banks during the 1986–93 credit cycle," Economic Review, Federal Reserve Bank of Atlanta, vol. 85(Q3), pages 13-34.
    41. Arifovic, Jasmina & Hua Jiang, Janet & Xu, Yiping, 2013. "Experimental evidence of bank runs as pure coordination failures," Journal of Economic Dynamics and Control, Elsevier, vol. 37(12), pages 2446-2465.
    42. Bank for International Settlements, 2001. "Marrying the macro- and micro-prudential dimensions of financial stability," BIS Papers, Bank for International Settlements, number 01.
    43. William Nelson & Wayne Passmore, 2001. "Pragmatic monitoring of financial stability," BIS Papers chapters, in: Bank for International Settlements (ed.), Marrying the macro- and micro-prudential dimensions of financial stability, volume 1, pages 367-384, Bank for International Settlements.

  13. John H. Boyd & Chun Chang & Bruce Smith, 1998. "Deposit insurance: a reconsideration," Working Papers 593, Federal Reserve Bank of Minneapolis.

    Cited by:

    1. Di Nicolo, G. & Lucchetta, M., 2010. "Financial Intermediation, Competition, and Risk : A General Equilibrium Exposition," Discussion Paper 2010-67S, Tilburg University, Center for Economic Research.
    2. Julio J. Rotemberg, 2010. "A Behavioral Model of Demandable Deposits and its Implications for Financial Regulation," NBER Working Papers 16620, National Bureau of Economic Research, Inc.
    3. Boyd, John H & De Nicolo, Gianni & Smith, Bruce D, 2004. "Crises in Competitive versus Monopolistic Banking Systems," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 36(3), pages 487-506, June.
    4. Todd Keister, 2014. "Bailouts and Financial Fragility," Departmental Working Papers 201401, Rutgers University, Department of Economics.
    5. Yuliyan Mitkov, 2016. "Inequality and Financial Fragility," Departmental Working Papers 201602, Rutgers University, Department of Economics.
    6. Marshall, David A. & Prescott, Edward Simpson, 2001. "Bank capital regulation with and without state-contingent penalties," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 54(1), pages 139-184, June.
    7. Jonathan Carroll & Shino Takayama, 2014. "A hierarchical agency model of deposit insurance," Annals of Finance, Springer, vol. 10(2), pages 267-290, May.
    8. Maechler, Andrea M. & McDill, Kathleen M., 2006. "Dynamic depositor discipline in US banks," Journal of Banking & Finance, Elsevier, vol. 30(7), pages 1871-1898, July.
    9. Marshall, David A. & Prescott, Edward Simpson, 2006. "State-contingent bank regulation with unobserved actions and unobserved characteristics," Journal of Economic Dynamics and Control, Elsevier, vol. 30(11), pages 2015-2049, November.
    10. Arping, Stefan, 2010. "The pricing of bank debt guarantees," Economics Letters, Elsevier, vol. 108(2), pages 119-121, August.
    11. Marcella Lucchetta, 2017. "Banking competition and welfare," Annals of Finance, Springer, vol. 13(1), pages 31-53, February.
    12. Mr. Gianni De Nicolo & Marcella Lucchetta, 2009. "Financial Intermediation, Competition, and Risk: A General Equilibrium Exposition," IMF Working Papers 2009/105, International Monetary Fund.
    13. Volker Britz & Hans Gersbach & Hans Haller, 2021. "Deposit insurance and reinsurance," Annals of Finance, Springer, vol. 17(4), pages 425-470, December.
    14. Mitkov, Yuliyan, 2020. "Inequality and financial fragility," Journal of Monetary Economics, Elsevier, vol. 115(C), pages 233-248.
    15. Di Nicolo, G. & Lucchetta, M., 2010. "Financial Intermediation, Competition, and Risk : A General Equilibrium Exposition," Other publications TiSEM 88ef35ea-b10f-4988-82e5-f, Tilburg University, School of Economics and Management.
    16. Gianni De Nicolo, 2000. "Size, charter value and risk in banking: an international perspective," International Finance Discussion Papers 689, Board of Governors of the Federal Reserve System (U.S.).
    17. Kathleen McDill & Andrea M. Maechler, 2003. "Dynamic Depositor Discipline in U.S. Banks," IMF Working Papers 2003/226, International Monetary Fund.
    18. Marcella Lucchetta & Mr. Gianni De Nicolo, 2011. "Bank Competition and Financial Stability: A General Equilibrium Exposition," IMF Working Papers 2011/295, International Monetary Fund.
    19. David A. Marshall & Edward Simpson Prescott, 2004. "State-Contingent Bank Regulation with Unobserved Actions and Unobserved Characteristics," Working Papers wp2004_0407, CEMFI.
    20. Wu, Yuliang & Bowe, Michael, 2012. "Information disclosure and depositor discipline in the Chinese banking sector," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 22(4), pages 855-878.
    21. Raheel Mumtaz & Imran Abbas Jadoon, 2018. "Effect of explicit deposit insurance premium on the moral hazard of banks’ risk-taking: Around the globe," International Journal of Financial Engineering (IJFE), World Scientific Publishing Co. Pte. Ltd., vol. 5(02), pages 1-24, June.
    22. Antoine Martin, 2001. "Liquidity provision vs. deposit insurance : preventing bank panics without moral hazard?," Research Working Paper RWP 01-05, Federal Reserve Bank of Kansas City.
    23. Ms. Elena Loukoianova & Mr. Gianni De Nicolo & John H. Boyd, 2009. "Banking Crises and Crisis Dating: Theory and Evidence," IMF Working Papers 2009/141, International Monetary Fund.
    24. Samartín, Margarita & Cardone Riportella, Clara & Bustamante, Rodrigo, 2004. "Was the Argentine corralito an efficient measure?: a note," DEE - Working Papers. Business Economics. WB wb042209, Universidad Carlos III de Madrid. Departamento de Economía de la Empresa.
    25. Di Nicolo, G. & Lucchetta, M., 2010. "Financial Intermediation, Competition, and Risk : A General Equilibrium Exposition," Other publications TiSEM 2c5af9d5-3533-452b-83cb-c, Tilburg University, School of Economics and Management.
    26. Ikuko Fueda & Masaru Konishi, 2007. "Depositors’ Response to Deposit Insurance Reforms: Evidence from Japan, 1990–2005," Journal of Financial Services Research, Springer;Western Finance Association, vol. 31(2), pages 101-122, June.
    27. Edward Simpson Prescott, 2002. "Can risk-based deposit insurance premiums control moral hazard?," Economic Quarterly, Federal Reserve Bank of Richmond, issue Spr, pages 87-100.
    28. Boyd, John H. & De Nicolò, Gianni & Rodionova, Tatiana, 2019. "Banking crises and crisis dating: Disentangling shocks and policy responses," Journal of Financial Stability, Elsevier, vol. 41(C), pages 45-54.
    29. Li, Gan & Wen-Yao, Wang, 2010. "Partial Deposit Insurance and Moral Hazard in Banking," MPRA Paper 25798, University Library of Munich, Germany.
    30. Mr. Gianni De Nicolo & John H. Boyd, 2003. "Bank Risk-Taking and Competition Revisited," IMF Working Papers 2003/114, International Monetary Fund.

  14. John H. Boyd & Chun Chang & Bruce Smith, 1998. "Moral hazard under commercial and universal banking," Working Papers 585, Federal Reserve Bank of Minneapolis.

    Cited by:

    1. Mitchell, Janet, 2001. "Bad Debts and the Cleaning of Banks' Balance Sheets: An Application to Transition Economies," Journal of Financial Intermediation, Elsevier, vol. 10(1), pages 1-27, January.
    2. Hsin-Yu Liang & Alan K. Reichert & Larry D. Wall, 2008. "The final frontier : the integration of banking and commerce. Part 1, the likely outcome of eliminating the barrier," Economic Review, Federal Reserve Bank of Atlanta, vol. 93(1).
    3. João A. C. Santos & Joseph G. Haubrich, 1999. "Banking and commerce: a liquidity approach," BIS Working Papers 78, Bank for International Settlements.
    4. Jussi Keppo & Josef Korte, 2018. "Risk Targeting and Policy Illusions—Evidence from the Announcement of the Volcker Rule," Management Science, INFORMS, vol. 64(1), pages 215-234, January.
    5. Chavaz, Matthieu & Elliott, David, 2020. "Separating retail and investment banking: evidence from the UK," Bank of England working papers 892, Bank of England, revised 18 Feb 2021.
    6. Luca Bellardini & Pierluigi Murro & Daniele Previtali, 2019. "The Risk Weighted Ownership Index: an ex-ante measure of banks' risk and performance," Working Papers CASMEF 1904, Dipartimento di Economia e Finanza, LUISS Guido Carli.
    7. Stefano Battilossi, 2009. "Did governance fail universal banks? Moral hazard, risk taking, and banking crises in interwar Italy1," Economic History Review, Economic History Society, vol. 62(s1), pages 101-134, August.
    8. Martynova, Natalya & Ratnovski, Lev & Vlahu, Razvan E., 2019. "Bank profitability, leverage constraints, and risk-taking," Discussion Papers 21/2019, Deutsche Bundesbank.
    9. Katarzyna Sum, 2015. "Banking regulation and bank performance in the EU – what should be the scope of the regulatory reform?," Bank i Kredyt, Narodowy Bank Polski, vol. 46(3), pages 207-236.
    10. Jonathan A. Batten & Xuan Vinh Vo, 2016. "Bank risk shifting and diversification in an emerging market," Risk Management, Palgrave Macmillan, vol. 18(4), pages 217-235, December.
    11. Chronopoulos, Dimitris K. & Wilson, John O.S. & Yilmaz, Muhammed H., 2023. "Regulatory oversight and bank risk," Journal of Financial Stability, Elsevier, vol. 64(C).
    12. Tatiana Damjanovic & Vladislav Damjanovic & Charles Nolan, 2012. "Universal banking, competition and risk in a macro model," Discussion Papers 1201, University of Exeter, Department of Economics.
    13. Kladakis, George & Chen, Lei & Bellos, Sotirios K., 2022. "Bank regulation, supervision and liquidity creation," Journal of International Money and Finance, Elsevier, vol. 124(C).
    14. Gaetano Antinolfi, 2012. "Costly Monitoring, Dynamic Incentives, and Default," 2012 Meeting Papers 892, Society for Economic Dynamics.
    15. Patel, Ajay & Sorokina, Nonna & Thornton, John H., 2022. "Liquidity and bank capital structure," Journal of Financial Stability, Elsevier, vol. 62(C).
    16. Shahchera , Mahshid & Jouzdani , Nasim, 2012. "The Impact of Regulation on Soundness of Banking: A Panel Data Approach," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 6(2), pages 191-209, December.
    17. Marshall, David A. & Prescott, Edward Simpson, 2001. "Bank capital regulation with and without state-contingent penalties," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 54(1), pages 139-184, June.
    18. James R. Barth & Gerard Caprio, Jr. & Ross Levine, 2002. "Bank Regulation and Supervision: What Works Best?," NBER Working Papers 9323, National Bureau of Economic Research, Inc.
    19. Grégory Nguyen & Peter Praet, 2006. "Cross-border crisis management : a race against the clock or a hurdle race ?," Financial Stability Review, National Bank of Belgium, vol. 4(1), pages 151-173, June.
    20. Mahrt-Smith, Jan, 2006. "Should banks own equity stakes in their borrowers? A contractual solution to hold-up problems," Journal of Banking & Finance, Elsevier, vol. 30(10), pages 2911-2929, October.
    21. Boyd, John H. & Chang, Chun & Smith, Bruce D., 2002. "Deposit insurance: a reconsideration," Journal of Monetary Economics, Elsevier, vol. 49(6), pages 1235-1260, September.
    22. Hafiz Hoque & Dimitris Andriosopoulos & Kostas Andriosopoulos & Raphaël Douady, 2015. "Bank Regulation, Risk and Return: Evidence from the Credit and Sovereign Debt Crises," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-01161670, HAL.
    23. Laetitia Lepetit & Emmanuelle Nys & Philippe Rous & Amine Tarazi, 2005. "Product Diversification in the European Banking Industry: Risk and Loan Pricing Implications," Working Papers hal-00918399, HAL.
    24. Mohsni, Sana & Otchere, Isaac, 2018. "Does regulatory regime matter for bank risk taking? A comparative analysis of US and Canada," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 53(C), pages 1-16.
    25. Luc Laeven & Ross Levine, 2008. "Bank Governance, Regulation, and Risk Taking," NBER Working Papers 14113, National Bureau of Economic Research, Inc.
    26. Thamae, Retselisitsoe I & Odhiambo, Nicholas M, 2022. "Bank regulation, supervision and lending: empirical evidence from selected sub-Saharan African countries," Working Papers 29839, University of South Africa, Department of Economics.
    27. Ozili, Peterson K, 2015. "Determinants of Bank Profitability and Basel Capital Regulation: Empirical Evidence from Nigeria," MPRA Paper 61048, University Library of Munich, Germany.
    28. Tatiana Damjanovic & Vladislav Damjanovic & Charles Nolan, 2013. "Universal vs separated banking with deposit insurance in a macro model," Discussion Papers 1308, University of Exeter, Department of Economics.
    29. Russell W. Cooper & Dean Corbae, 2001. "Financial collapse and active monetary policy: a lesson from the Great Depression," Staff Report 289, Federal Reserve Bank of Minneapolis.
    30. Li, Hui & Liu, Hong & Veld, Chris, 2019. "The effects of bank regulation stringency on seasoned equity offering announcements," Journal of International Money and Finance, Elsevier, vol. 91(C), pages 71-85.
    31. James B. Thomson, 2001. "Unitary thrifts: a performance analysis," Economic Review, Federal Reserve Bank of Cleveland, issue Q II, pages 2-14.
    32. Laetitia Lepetit & Emmanuelle Nys & Philippe Rous & Amine Tarazi, 2008. "The expansion of services in European banking: implications for loan pricing and interest margins," Post-Print hal-01098958, HAL.
    33. Ranjeeta Nayak, 2021. "Banking regulations: do they matter for performance?," Journal of Banking Regulation, Palgrave Macmillan, vol. 22(4), pages 261-274, December.
    34. Marshall, David A. & Prescott, Edward Simpson, 2006. "State-contingent bank regulation with unobserved actions and unobserved characteristics," Journal of Economic Dynamics and Control, Elsevier, vol. 30(11), pages 2015-2049, November.
    35. Ozili, Peterson K, 2022. "Difficult issues in financial regulation for financial stability," MPRA Paper 115783, University Library of Munich, Germany.
    36. Ongena, Steven & Popov, Alexander & Udell, Gregory F., 2013. "“When the cat's away the mice will play”: Does regulation at home affect bank risk-taking abroad?," Journal of Financial Economics, Elsevier, vol. 108(3), pages 727-750.
    37. Jonathan A. Batten & Igor LonČarski & Peter G. Szilagyi, 2022. "Financial Market Manipulation, Whistleblowing, and the Common Good: Evidence from the LIBOR Scandal," Abacus, Accounting Foundation, University of Sydney, vol. 58(1), pages 1-23, March.
    38. Fotios Pasiouras, 2008. "International evidence on the impact of regulations and supervision on banks’ technical efficiency: an application of two-stage data envelopment analysis," Review of Quantitative Finance and Accounting, Springer, vol. 30(2), pages 187-223, February.
    39. John H. Boyd & Pedro Gomis & Sungkyu Kwak & Bruce D. Smith, 2000. "A User's Guide to Banking Crises," Monash Economics Working Papers archive-36, Monash University, Department of Economics.
    40. Daniel M. Covitz & Erik Heitfield, 1999. "Monitoring, moral hazard, and market power: a model of bank lending," Finance and Economics Discussion Series 1999-37, Board of Governors of the Federal Reserve System (U.S.).
    41. Cooper, Russell & Corbae, Dean, 2002. "Financial Collapse: A Lesson from the Great Depression," Journal of Economic Theory, Elsevier, vol. 107(2), pages 159-190, December.
    42. Thamae, Retselisitsoe I & Odhiambo, Nicholas M, 2022. "Nonlinear effects of bank regulation stringency on bank lending in selected sub-Saharan African countries," Working Papers 29840, University of South Africa, Department of Economics.
    43. Yuehua Li & Zhentao Liu & Sha Pei, 2020. "Does bank transparency benefit from the Volcker Rule?," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(2), pages 1471-1500, June.
    44. Gerard Caprio & Luc Laeven & Ross Levine, 2003. "Governance and Bank Valuation," NBER Working Papers 10158, National Bureau of Economic Research, Inc.
    45. Banerji, Sanjay & Basu, Parantap, 2015. "Borrower's moral hazard, risk premium, and welfare: A comparison of universal and stand-alone banking systems," The Journal of Economic Asymmetries, Elsevier, vol. 12(1), pages 61-72.
    46. Rishabh, Kumar, 2021. "Bank as a Venture Capitalist," Working papers 2021/09, Faculty of Business and Economics - University of Basel.
    47. Marinelli, Giuseppe & Nobili, Andrea & Palazzo, Francesco, 2022. "The multiple dimensions of bank complexity: Effects on credit risk-taking," Journal of Banking & Finance, Elsevier, vol. 134(C).
    48. Pasiouras, Fotios & Gaganis, Chrysovalantis, 2013. "Regulations and soundness of insurance firms: International evidence," Journal of Business Research, Elsevier, vol. 66(5), pages 632-642.
    49. Luc Laeven & Ross Levine, 2005. "Is There a Diversification Discount in Financial Conglomerates?," NBER Working Papers 11499, National Bureau of Economic Research, Inc.
    50. Laetitia Lepetit & Emmanuelle Nys & Philippe Rous & Amine Tarazi, 2008. "Bank income structure and risk: An empirical analysis of European banks," Post-Print hal-00844820, HAL.
    51. Mehmood, Asad & De Luca, Francesco, 2023. "How does non-interest income affect bank credit risk? Evidence before and during the COVID-19 pandemic," Finance Research Letters, Elsevier, vol. 53(C).
    52. Gaganis, Chrysovalantis & Liu, Liuling & Pasiouras, Fotios, 2015. "Regulations, profitability, and risk-adjusted returns of European insurers: An empirical investigation," Journal of Financial Stability, Elsevier, vol. 18(C), pages 55-77.
    53. João A. C. Santos, 1998. "Banking and commerce: how does the United States compare to other countries?," Economic Review, Federal Reserve Bank of Cleveland, vol. 34(Q IV), pages 14-26.
    54. Bardoscia, Marco & Ka-Kay Pang, Raymond, 2023. "Ring-fencing in financial networks," Bank of England working papers 1046, Bank of England.
    55. Shehzad, Choudhry Tanveer & De Haan, Jakob, 2015. "Supervisory powers and bank risk taking," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 39(C), pages 15-24.
    56. Baselga-Pascual, Laura & Trujillo-Ponce, Antonio & Cardone-Riportella, Clara, 2015. "Factors influencing bank risk in Europe: Evidence from the financial crisis," The North American Journal of Economics and Finance, Elsevier, vol. 34(C), pages 138-166.
    57. Fang, Yiwei & Hasan, Iftekhar & Marton, Katherin, 2011. "Market reforms, legal changes and bank risk-taking: evidence from transition economies," Bank of Finland Research Discussion Papers 7/2011, Bank of Finland.
    58. John Krainer, 2000. "The separation of banking and commerce," Economic Review, Federal Reserve Bank of San Francisco, pages 15-24.
    59. Minzhi Wu & Emili Tortosa-Ausina, 2020. "Bank Diversification and Focus in Disruptive Times: China, 2007–2018," Working Papers 2020/21, Economics Department, Universitat Jaume I, Castellón (Spain).
    60. Fotios Pasiouras & Chrysovalantis Gaganis & Constantin Zopounidis, 2008. "Regulations, Supervision Approaches and Acquisition Likelihood in the Asian Banking Industry," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 15(2), pages 135-154, June.
    61. Allen N. Berger & Rebecca Demsetz & Philip E. Strahan, 1998. "The consolidation of the financial services industry: causes, consequences, and the implications for the future," Staff Reports 55, Federal Reserve Bank of New York.
    62. David A. Marshall & Edward Simpson Prescott, 2004. "State-Contingent Bank Regulation with Unobserved Actions and Unobserved Characteristics," Working Papers wp2004_0407, CEMFI.
    63. Tatiana Damjanovic & Vladislav Damjanovic & Charles Nolan, 2019. "Default, Bailouts and the Vertical Structure of Financial Intermediaries," Working Papers 2019_04, Durham University Business School.
    64. Ugo Albertazzi, 2006. "Incentives in universal banks," Temi di discussione (Economic working papers) 572, Bank of Italy, Economic Research and International Relations Area.
    65. Laetitia Lepetit & Emmanuelle Nys & Philippe Rous & Amine Tarazi, 2006. "The Provision of Services, Interest Margins and Loan Pricing in European Banking," Working Papers hal-00918533, HAL.
    66. Al-Shboul, Mohammad & Maghyereh, Aktham & Hassan, Abul & Molyneux, Phillip, 2020. "Political risk and bank stability in the Middle East and North Africa region," Pacific-Basin Finance Journal, Elsevier, vol. 60(C).
    67. Arnold, Bruce & Borio, Claudio & Ellis, Luci & Moshirian, Fariborz, 2012. "Systemic risk, macroprudential policy frameworks, monitoring financial systems and the evolution of capital adequacy," Journal of Banking & Finance, Elsevier, vol. 36(12), pages 3125-3132.
    68. Morrison, Alan & Lóránth, Gyöngyi, 2008. "Bank Diversification and Incentives," CEPR Discussion Papers 7051, C.E.P.R. Discussion Papers.
    69. HAKIMI Abdelaziz & Ahmet DKHILI Hichem & KHLAIFIA Wafa, 2012. "Universal Banking and Credit Risk: Evidence from Tunisia," International Journal of Economics and Financial Issues, Econjournals, vol. 2(4), pages 496-504.
    70. Chung‐Hua Shen & Yuen‐Hsiang Chang, 2006. "Do Regulations Affect Banking Performance? Government Governance May Matter," Contemporary Economic Policy, Western Economic Association International, vol. 24(1), pages 92-105, January.
    71. Anginer, Deniz & Cerutti, Eugenio & Martínez Pería, María Soledad, 2017. "Foreign bank subsidiaries' default risk during the global crisis: What factors help insulate affiliates from their parents?," Journal of Financial Intermediation, Elsevier, vol. 29(C), pages 19-31.
    72. Barbara Casu & Panagiotis Dontis†Charitos & Sotiris Staikouras & Jonathan Williams, 2016. "Diversification, Size and Risk: the Case of Bank Acquisitions of Nonbank Financial Firms," European Financial Management, European Financial Management Association, vol. 22(2), pages 235-275, March.
    73. Delis, Manthos D & Staikouras, Panagiotis, 2009. "On-site audits, sanctions, and bank risk-taking: An empirical overture towards a novel regulatory and supervisory philosophy," MPRA Paper 16836, University Library of Munich, Germany.
    74. von Beschwitz, Bastian & Foos, Daniel, 2018. "Banks’ equity stakes and lending: Evidence from a tax reform," Journal of Banking & Finance, Elsevier, vol. 96(C), pages 322-343.
    75. Barth, James R. & Caprio, Gerard & Levine, Ross, 2000. "Banking systems around the globe : do regulation and ownership affect the performance and stability?," Policy Research Working Paper Series 2325, The World Bank.
    76. Tran, Dung Viet & Ho, Sy-Hoa, 2019. "Does diversification affect the quality of loan portfolio?Panel Granger-causality evidence from US banks," MPRA Paper 98186, University Library of Munich, Germany.
    77. Al-Jarhi, Mabid Ali, 2005. "The Case For Universal Banking As A Component Of Islamic Banking," Islamic Economic Studies, The Islamic Research and Training Institute (IRTI), vol. 13, pages 2-65.
    78. Natalya Martynova & Mr. Lev Ratnovski & Mr. Razvan Vlahu, 2015. "Bank Profitability and Risk-Taking," IMF Working Papers 2015/249, International Monetary Fund.
    79. Elena Beccalli & Ludovico Rossi, 2020. "Economies or diseconomies of scope in the EU banking industry?," European Financial Management, European Financial Management Association, vol. 26(5), pages 1261-1293, November.
    80. Kaliyev Kalizhan Sagatbekovich & Mira Nurmakhanova, 2021. "Bank Regulation in the Economies in Transition," SAGE Open, , vol. 11(4), pages 21582440211, November.
    81. Teixeira, João C.A. & Matos, Tiago F.A. & da Costa, Gui L.P. & Fortuna, Mário J.A., 2020. "Investor protection, regulation and bank risk-taking behavior," The North American Journal of Economics and Finance, Elsevier, vol. 51(C).
    82. Fang, Yiwei & Fornaro, James & Li, Lingxiang & Zhu, Yun, 2018. "The impact of accounting laws and standards on bank risks: Evidence from transition countries," Journal of Economics and Business, Elsevier, vol. 95(C), pages 103-118.
    83. Barth, James R. & Lin, Chen & Ma, Yue & Seade, Jesús & Song, Frank M., 2013. "Do bank regulation, supervision and monitoring enhance or impede bank efficiency?," Journal of Banking & Finance, Elsevier, vol. 37(8), pages 2879-2892.
    84. Hossain, Mahmud & Mitra, Santanu & Rezaee, Zabihollah, 2013. "Auditing regulations and bank shareholders’ wealth: An international analysis," Research in Accounting Regulation, Elsevier, vol. 25(2), pages 252-257.
    85. Fang, Yiwei & Hasan, Iftekhar & Marton, Katherin, 2014. "Institutional development and bank stability: Evidence from transition countries," Journal of Banking & Finance, Elsevier, vol. 39(C), pages 160-176.
    86. Chen, Pei-Fen & Zeng, Jhih-Hong, 2014. "Asymmetric effects of households’ financial participation on banking diversification," Journal of Financial Stability, Elsevier, vol. 13(C), pages 18-29.
    87. Ibrahim Alley, 2023. "BOFIA 2020 and financial system stability in Nigeria: Implications for stakeholders in the African largest economy," Journal of Banking Regulation, Palgrave Macmillan, vol. 24(2), pages 184-205, June.
    88. Li‐Ting Yeh & Dong‐Shang Chang & Huei‐Min Li, 2022. "Developing a network data envelopment analysis model to measure the efficiency of banking with the governance, innovation, and operations," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(7), pages 2863-2874, October.
    89. Danisman, Gamze Ozturk & Demirel, Pelin, 2019. "Bank risk-taking in developed countries: The influence of market power and bank regulations," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 59(C), pages 202-217.
    90. Shehzad, Choudhry Tanveer & de Haan, Jakob & Scholtens, Bert, 2010. "The impact of bank ownership concentration on impaired loans and capital adequacy," Journal of Banking & Finance, Elsevier, vol. 34(2), pages 399-408, February.
    91. Darren Pain, 2003. "The provisioning experience of the major UK banks: a small panel investigation," Bank of England working papers 177, Bank of England.
    92. Sanjay Banerji & Andrew Chen & Sumon Mazumdar, 2002. "Universal Banking Under Bilateral Information Asymmetry," Journal of Financial Services Research, Springer;Western Finance Association, vol. 22(3), pages 169-187, December.
    93. Noman, Abu Hanifa Md. & Gee, Chan Sok & Isa, Che Ruhana, 2018. "Does bank regulation matter on the relationship between competition and financial stability? Evidence from Southeast Asian countries," Pacific-Basin Finance Journal, Elsevier, vol. 48(C), pages 144-161.
    94. Chan, Sok-Gee & Koh, Eric H.Y. & Zainir, Fauzi & Yong, Chen-Chen, 2015. "Market structure, institutional framework and bank efficiency in ASEAN 5," Journal of Economics and Business, Elsevier, vol. 82(C), pages 84-112.
    95. William C. Gruben & Jahyeong Koo & Robert R. Moore, 2003. "Financial liberalization, market discipline and bank risk," Center for Latin America Working Papers 0303, Federal Reserve Bank of Dallas.
    96. Anyangah Joshua, 2012. "Mitigating Judgment Proofness: Information Acquisition vs. Extended Liability," Review of Law & Economics, De Gruyter, vol. 8(3), pages 657-696, December.
    97. Wahyu Jatmiko & M. Shahid Ebrahim & Abdullah Iqbal & Rafal M. Wojakowski, 2023. "Can trade credit rejuvenate Islamic banking?," Review of Quantitative Finance and Accounting, Springer, vol. 60(1), pages 111-146, January.
    98. Mamduh Hanafi & Fitri Santi & Muazaroh, 2013. "The Impact of Ownership Concentration, Commissioners on Bank Risk and Profitability: Evidence from Indonesia," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 3(2), pages 183-202, December.
    99. Al-Jarhi, Mabid, 2000. "A Comparison of Transactions in Conventional and Islamic Economies," MPRA Paper 66725, University Library of Munich, Germany.
    100. Dutra, Tiago M. & Teixeira, João C.A. & Dias, José Carlos, 2023. "Banking regulation and banks’ risk-taking behavior: The role of investors’ protection," The Quarterly Review of Economics and Finance, Elsevier, vol. 90(C), pages 124-148.
    101. Zhenni Yang & Christopher Gan & Zhaohua Li, 2019. "Role of Bank Regulation on Bank Performance: Evidence from Asia-Pacific Commercial Banks," JRFM, MDPI, vol. 12(3), pages 1-25, August.
    102. Abedifar, Pejman & Molyneux, Philip & Tarazi, Amine, 2018. "Non-interest income and bank lending," Journal of Banking & Finance, Elsevier, vol. 87(C), pages 411-426.
    103. Ozili, Peterson K, 2015. "Determinants of Bank Profitability and Basel Capital Regulation: Empirical Evidence from Nigeria," MPRA Paper 61069, University Library of Munich, Germany.
    104. Li-Lun & Liu & Mu-Shun Wang & Yao-Jen & Su, 2023. "Measuring Changes in Chinese Banking Productivity and Profitability," Advances in Management and Applied Economics, SCIENPRESS Ltd, vol. 13(5), pages 1-1.

  15. Arthur J. Rolnick & Bruce Smith & Warren E. Weber, 1998. "The Suffolk Bank and the Panic of 1837: how a private bank acted as a lender-of-last-resort," Working Papers 592, Federal Reserve Bank of Minneapolis.

    Cited by:

    1. Gary Gorton & Lixin Huang, 2002. "Bank Panics and the Endogeneity of Central Banking," Center for Financial Institutions Working Papers 02-29, Wharton School Center for Financial Institutions, University of Pennsylvania.
    2. Tore Nilssen, 2011. "Risk externalities in a payments oligopoly," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 10(3), pages 211-234, December.
    3. Randall Kroszner, 2000. "Lessons from Financial Crises: The Role of Clearinghouses," Journal of Financial Services Research, Springer;Western Finance Association, vol. 18(2), pages 157-171, December.

  16. Bhattacharya, Joydeep & Guzman, Mark G. & Smith, Bruce D., 1998. "Some Even More Unpleasant Monetarist Arithmetic," Staff General Research Papers Archive 5084, Iowa State University, Department of Economics.

    Cited by:

    1. Richard C. Barnett, 2004. "Coordinating Macroeconomic Policy In A Simple Ak Growth Model," Econometric Society 2004 Latin American Meetings 299, Econometric Society.
    2. Mark G. Guzman, 2006. "The impact of paying interest on reserves in the presence of government deficit financing," Economics Discussion Papers em-dp2006-39, Department of Economics, University of Reading.
    3. Bhattacharya, Joydeep & Haslag, Joseph H., 2003. "Is Reserve-ratio Arithmetic More Pleasant?," ISU General Staff Papers 200308010700001822, Iowa State University, Department of Economics.
    4. Edward F Buffie, 2003. "Policy Rules and Monetarist Arithmetic," Bulletin of Economic Research, Wiley Blackwell, vol. 55(3), pages 223-247, July.
    5. Joydeep Bhattacharya & Noritaka Kudoh, 2002. "Tight money policies and inflation revisited," Canadian Journal of Economics, Canadian Economics Association, vol. 35(2), pages 185-217, May.
    6. Joydeep Bhattacharya & Joseph H. Haslag, 1999. "Seigniorage in a neoclassical economy: some computational results," Working Papers 9901, Federal Reserve Bank of Dallas.
    7. Edgar A. Ghossoub & Robert R. Reed, 2013. "The Stock Market, Monetary Policy, and Economic Development," Southern Economic Journal, John Wiley & Sons, vol. 79(3), pages 639-658, January.
    8. Stacey L. Schreft & Bruce Smith, 2002. "The conduct of monetary policy with a shrinking stock of government debt," Proceedings, Federal Reserve Bank of Cleveland, pages 848-886.
    9. Marco A. Espinosa-Vega & Steven Russell, 1997. "History and theory of the NAIRU: a critical review," Economic Review, Federal Reserve Bank of Atlanta, vol. 82(Q 2), pages 4-25.
    10. Joydeep Bhattacharya & Joseph H. Haslag, 1999. "Monetary policy arithmetic: some recent contributions," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Q III, pages 26-36.
    11. Stacey Schreft & Bruce Smith, 2008. "The social value of risk-free government debt," Annals of Finance, Springer, vol. 4(2), pages 131-155, March.
    12. Maxim Nikitin & Steven Russell, 2006. "Monetary policy arithmetic: reconciling theory with evidence," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 39(1), pages 348-374, February.
    13. Marco A. Espinosa-Vega & Steven Russell, 2001. "Stability of steady states in a model of pleasant monetarist arithmetic," FRB Atlanta Working Paper 2001-20, Federal Reserve Bank of Atlanta.
    14. Fung, Michael K. Y. & Ho, Wai-Ming & Zhu, Lijing, 2000. "Stagflationary effect of government bond financing in the transforming Chinese economy: a general equilibrium analysis," Journal of Development Economics, Elsevier, vol. 61(1), pages 111-135, February.
    15. Cothren, Richard, 2006. "A model of optimal legal restrictions and open market operations," Journal of Macroeconomics, Elsevier, vol. 28(3), pages 480-492, September.

  17. Bruce Smith & Warren E. Weber, 1998. "Private money creation and the Suffolk Banking System," Working Papers (Old Series) 9821, Federal Reserve Bank of Cleveland.

    Cited by:

    1. Temzelides, Ted & Williamson, Stephen D., 2001. "Private money, settlement, and discounts," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 54(1), pages 85-108, June.
    2. Gaetano Antinolfi & Elisabeth Huybens, 2000. "Monetary Stability and Liquidity Crises: The Role of the Lender of Last Resort," Econometric Society World Congress 2000 Contributed Papers 1156, Econometric Society.
    3. Salter, Alexander William & Young, Andrew T., 2018. "A theory of self-enforcing monetary constitutions with reference to the Suffolk System, 1825–1858," Journal of Economic Behavior & Organization, Elsevier, vol. 156(C), pages 13-22.
    4. Daniel Sanches, 2016. "On the Inherent Instability of Private Money," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 20, pages 198-214, April.
    5. Young, Andrew T. & Dove, John A., 2013. "Policing the chain gang: Panel cointegration analysis of the stability of the Suffolk System, 1825–1858," Journal of Macroeconomics, Elsevier, vol. 37(C), pages 182-196.
    6. Daniel R. Sanches, 2013. "Banking crises and the role of bank coalitions," Working Papers 13-28, Federal Reserve Bank of Philadelphia.
    7. Bossone, Biagio, 2000. "What makes banks special ? a study of banking, finance, and economic development," Policy Research Working Paper Series 2408, The World Bank.
    8. Gentier Antoine, 2013. "3 Comments on “An Austrian Defense of the Euro”," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 19(1), pages 29-40, December.
    9. Stephen Williamson, 2000. "The Research Agenda: Payment Systems and Private Money," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 2(1), November.
    10. Stephen D. Williamson, 2002. "Private money and counterfeiting," Economic Quarterly, Federal Reserve Bank of Richmond, issue Sum, pages 37-57.
    11. Bullard, James & Smith, Bruce D., 2003. "The value of inside and outside money," Journal of Monetary Economics, Elsevier, vol. 50(2), pages 389-417, March.
    12. James B. Bullard & Bruce Smith, 2001. "The value of inside and outside money: expanded version," Working Papers 2001-011, Federal Reserve Bank of St. Louis.
    13. Todd Keister, 2009. "Central Bank Lending and Inflation," 2009 Meeting Papers 782, Society for Economic Dynamics.
    14. Williamson, Stephen, 2009. "Liquidity, Financial Intermediation, and Monetary Policy in a New Monetarist Model," MPRA Paper 20692, University Library of Munich, Germany.
    15. Costas Azariadis & James B. Bullard & Bruce Smith, 2000. "Private and public circulating liabilities," Working Papers 2000-012, Federal Reserve Bank of St. Louis.
    16. Li, Yan, 2009. "The theory of fiat money and private money as alternative media of exchange," International Review of Economics & Finance, Elsevier, vol. 18(4), pages 568-582, October.
    17. Smith, Bruce D., 2001. "Banks, short-term debt and financial crises: theory, policy implications, and applications A comment," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 54(1), pages 73-83, June.
    18. Christian Hellwig, 2002. "Money, Intermediaries, and Cash-in-Advance Constraints (February 2003)," UCLA Economics Online Papers 207, UCLA Department of Economics.
    19. Andolfatto, David & Nosal, Ed, 2009. "Money, intermediation, and banking," Journal of Monetary Economics, Elsevier, vol. 56(3), pages 289-294, April.
    20. Bossone, Biagio, 2001. "Do banks have a future?: A study on banking and finance as we move into the third millennium," Journal of Banking & Finance, Elsevier, vol. 25(12), pages 2239-2276, December.
    21. Malavika Nair & Rahimat Emozozo, 2018. "Electronic Currency In Africa: M†Pesa As Private Inside Money," Economic Affairs, Wiley Blackwell, vol. 38(2), pages 197-206, June.
    22. Arthur J. Rolnick & Bruce Smith & Warren E. Weber, 2000. "The Suffolk Bank and the Panic of 1837," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 24(Spr), pages 3-13.
    23. Gaetano Antinolfi & Todd Keister, 2000. "Liquidity Crises and Discount Window Lending: Theory and Implications for the Dollarization Debate," Working Papers 0002, Centro de Investigacion Economica, ITAM.
    24. Michel, Philippe & Wigniolle, Bertrand, 2003. "Temporary bubbles," Journal of Economic Theory, Elsevier, vol. 112(1), pages 173-183, September.
    25. Norman, Ben & Shaw, Rachel & Speight, George, 2011. "The history of interbank settlement arrangements: exploring central banks’ role in the payment system," Bank of England working papers 412, Bank of England.

  18. Elisabeth Huybens & Bruce D. Smith, 1997. "Inflation, Financial Markets and Long-Run Real Activity," Working Papers 9707, Centro de Investigacion Economica, ITAM.

    Cited by:

    1. Simplice A. Asongu & Nicholas M. Odhiambo, 2019. "The Mobile Phone, Information Sharing and Financial Sector Development in Africa: A Quantile Regressions Approach," CEREDEC Working Papers 19/016, Centre de Recherche pour le Développement Economique (CEREDEC).
    2. Chi-Wei Su & Hui Yu & Hsu-Ling Chang & Xiao-Lin Li, 2017. "How does inflation determine inflation uncertainty? A Chinese perspective," Quality & Quantity: International Journal of Methodology, Springer, vol. 51(3), pages 1417-1434, May.
    3. Simplice A. Asongu & Joseph Nnanna & Vanessa S. Tchamyou, 2019. "The Comparative African Regional Economics of Globalization in Financial Allocation Efficiency: Pre-Crisis Era Revisited," Working Papers of the African Governance and Development Institute. 19/085, African Governance and Development Institute..
    4. Smith, R. Todd & van Egteren, Henry, 2005. "Inflation, investment and economic performance: The role of internal financing," European Economic Review, Elsevier, vol. 49(5), pages 1283-1303, July.
    5. Florian Morvillier, 2019. "Do currency undervaluations affect the impact of inflation on growth?," Post-Print hal-02138677, HAL.
    6. Michelle L. Barnes, 2000. "Threshold Relationships among Inflation, Financial Market Development and Growth," School of Economics and Public Policy Working Papers 2000-04, University of Adelaide, School of Economics and Public Policy.
    7. Simplice A. Asongu & Jacinta C. Nwachukwu, 2017. "ICT, Financial Sector Development and Financial Access," Research Africa Network Working Papers 17/006, Research Africa Network (RAN).
    8. Masao Ogaki & Vikas Kakkar, 2002. "The Distortionary Effects of Inflation: An Empirical Investigation," Working Papers 02-01, Ohio State University, Department of Economics.
    9. Laeven, Luc & Majnoni, Giovanni, 2005. "Does judicial efficiency lower the cost of credit?," Journal of Banking & Finance, Elsevier, vol. 29(7), pages 1791-1812, July.
    10. Mattia Cattaneo & Michele Meoli, 2013. "Investor protection and IPO survival in the Italian stock market," Chapters, in: Mario Levis & Silvio Vismara (ed.), Handbook of Research on IPOs, chapter 7, pages 141-158, Edward Elgar Publishing.
    11. Asongu, Simplice & Koomson, Isaac & Tchamyou, Vanessa, 2016. "Financial globalisation uncertainty/instability is good for financial development," MPRA Paper 70239, University Library of Munich, Germany.
    12. Simplice Asongu & Nicholas Odhiambo, 2018. "Information Asymmetry, Financialisation and Financial Access," Working Papers of the African Governance and Development Institute. 18/019, African Governance and Development Institute..
    13. Aluko, Olufemi Adewale & Opoku, Eric Evans Osei, 2022. "The financial development impact of financial globalization revisited: A focus on OECD countries," International Economics, Elsevier, vol. 169(C), pages 13-29.
    14. Sulemana Mahawiya, 2015. "Financial sector development and threshold effect of inflation in ECOWAS and SADC: A Panel smooth transition regression approach," Working Papers 539, Economic Research Southern Africa.
    15. Simplice A. Asongu, Nicholas M. Odhiambo, 2022. "Information for banking efficiency in Africa: evidence from income levels and legal origins," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 19(2), pages 251-274, December.
    16. Wahyoe Soedarmono & Amine Tarazi, 2013. "Bank opacity, intermediation cost and globalization: Evidence from a sample of publicly traded banks in Asia," Post-Print hal-01098719, HAL.
    17. Ayadi, Rym & Arbak, Emrah & Ben-Naceur, Sami & De Groen, Willem Pieter, 2013. "Determinants of Financial Development across the Mediterranean," CEPS Papers 7770, Centre for European Policy Studies.
    18. Javier Andrés & Ignacio Hernando & J. David López-Salido, 1999. "The Role of the Financial System in the Growth-Inflation Link: the OECD Experience," Working Papers 9920, Banco de España.
    19. Mougnol A Ekoula, Hervé William & Kamguia, Brice & Ndoya, Hermann, 2023. "Do women hold the key to financial sector development in Africa?," International Economics, Elsevier, vol. 173(C), pages 233-248.
    20. Osoro, Jared & Josea, Kiplangat, 2022. "Banking system adjustment to shock: The Kenyan case of liquidity-profitability trade-offs," KBA Centre for Research on Financial Markets and Policy Working Paper Series 56, Kenya Bankers Association (KBA).
    21. Mu-Shun Wang, 2013. "An Investigation of the Feldstein–Horioka Puzzle for the Association of Southeast Asian Nations Economies," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 46(4), pages 424-443, December.
    22. Simplice Asongu & Jacinta C. Nwachukwu & Vanessa S. Tchamyou, 2015. "Information Asymmetry and Financial Development Dynamics in Africa," Working Papers of the African Governance and Development Institute. 15/025, African Governance and Development Institute..
    23. Simplice Asongu & Jacinta C. Nwachukwu, 2015. "Finance and Inclusive Human Development: Evidence from Africa," Working Papers of the African Governance and Development Institute. 15/061, African Governance and Development Institute..
    24. Randall Morck & Bernard Yeung, 2017. "East Asian Financial and Economic Development," NBER Working Papers 23845, National Bureau of Economic Research, Inc.
    25. Simplice A. Asongu & Rexon T. Nting, 2021. "The role of finance in inclusive human development in Africa revisited," Working Papers 21/006, European Xtramile Centre of African Studies (EXCAS).
    26. Walid Benayed & Foued Badr Gabsi, 2020. "Domestic public debt and financial development in Sub-Saharan Africa: Is there an inverted-U relationship?," Economics Bulletin, AccessEcon, vol. 40(1), pages 846-854.
    27. Khan, Mohsin S. & Senhadji, Abdelhak S. & Smith, Bruce D., 2006. "Inflation And Financial Depth," Macroeconomic Dynamics, Cambridge University Press, vol. 10(2), pages 165-182, April.
    28. Ciżkowicz, Piotr & Rzońca, Andrzej, 2010. "Inflation and corporate investment in selected OECD countries in the years 1960-2005 – an empirical analysis," MPRA Paper 29846, University Library of Munich, Germany.
    29. Bahadir, Berrak & Valev, Neven, 2015. "Financial development convergence," Journal of Banking & Finance, Elsevier, vol. 56(C), pages 61-71.
    30. Simplice A. Asongu & John C. Anyanwu & Vanessa S. Tchamyou, 2016. "Information sharing and conditional financial development in Africa," Research Africa Network Working Papers 16/054, Research Africa Network (RAN).
    31. Patrick Omoruyi Eke & B. Uzoma Achugamonu & Simon Yunisa & Godswill Osagie Osuma, 2020. "Macroeconomic risks and financial sector stability: the Nigerian case," DECISION: Official Journal of the Indian Institute of Management Calcutta, Springer;Indian Institute of Management Calcutta, vol. 47(3), pages 233-249, September.
    32. Sin-Yu Ho, 2018. "Macroeconomic determinants of stock market development in South Africa," International Journal of Emerging Markets, Emerald Group Publishing Limited, vol. 14(2), pages 322-342, December.
    33. Temple, Jonathan & Huang, Yongfu, 2005. "Does External Trade Promote Financial Development?," CEPR Discussion Papers 5150, C.E.P.R. Discussion Papers.
    34. Bahadir, Berrak & Valev, Neven, 2017. "Catching up or drifting apart: Convergence of household and business credit in Europe," International Review of Economics & Finance, Elsevier, vol. 47(C), pages 101-114.
    35. DRAMA Bedi Guy Hervé, 2021. "Governance, Financial Development and Economic Growth in the WAEMU area: Evidence from panel ARDL analysis," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 11(5), pages 1-1.
    36. Kunofiwa Tsaurai, 2018. "Investigating the Impact of Inflation on Foreign Direct Investment in Southern Africa," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 14(4), pages 597-611, AUGUST.
    37. Asongu, Simplice A & Odhiambo, Nicholas M, 2022. "Information sharing and banking efficiency in Africa: A disaggregated panel data analysis," Working Papers 29004, University of South Africa, Department of Economics.
    38. Hatra Voghouei & M. Azail & Siong Law, 2013. "The effect of dynamic legal tradition on financial development: panel data evidence," European Journal of Law and Economics, Springer, vol. 35(1), pages 109-136, February.
    39. Thorsten Beck & Ross Levine, 2002. "Industry Growth and Capital Allocation: Does Having a Market- or Bank-Based System Matter?," NBER Working Papers 8982, National Bureau of Economic Research, Inc.
    40. Nwakanma Prince Chinaecherem & Ifeanyi Mgbataogu, 2013. "Influence of Interest Rates Regimes on Deposit Money Banks’ Credit in Nigeria: An Econometric Assessment," International Journal of Empirical Finance, Research Academy of Social Sciences, vol. 1(3), pages 52-64.
    41. Koffie Ben Nassar & Edder Martinez & Anabel Pineda, 2014. "Determinants of Banks' Net Interest Margins in Honduras," IMF Working Papers 2014/163, International Monetary Fund.
    42. Vlachos, Jonas & Svaleryd, Helena, 2001. "Financial Markets, the Pattern of Specialization and Comparative Advantage. Evidence from OECD countries," SSE/EFI Working Paper Series in Economics and Finance 449, Stockholm School of Economics, revised 08 Nov 2001.
    43. Sin-Yu Ho, 2019. "The macroeconomic determinants of stock market development in Malaysia: an empirical analysis," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 21(2), pages 174-193.
    44. Chung-Hua Shen & Chien-Chiang Lee & Shyh-Wei Chen & Zixiong Xie, 2011. "Roles played by financial development in economic growth: application of the flexible regression model," Empirical Economics, Springer, vol. 41(1), pages 103-125, August.
    45. Mansur, Alfan & Nizar, Muhammad Afdi, 2019. "Mengukur Perkembangan Sektor Keuangan di Indonesia dan Faktor – Faktor yang Mempengaruhi [Assessing the Measurement and Determinants of Financial Sector Development in Indonesia]," MPRA Paper 96265, University Library of Munich, Germany, revised 30 Sep 2019.
    46. Hou, Han & Cheng, Su-Yin, 2017. "The dynamic effects of banking, life insurance, and stock markets on economic growth," Japan and the World Economy, Elsevier, vol. 41(C), pages 87-98.
    47. Carbó, Santiago & Humphrey, David & Maudos, Joaquín & Molyneux, Philip, 2009. "Cross-country comparisons of competition and pricing power in European banking," Journal of International Money and Finance, Elsevier, vol. 28(1), pages 115-134, February.
    48. Asongu, Simplice A. & Nwachukwu, Jacinta C., 2017. "The synergy of financial sector development and information sharing in financial access: Propositions and empirical evidence," Research in International Business and Finance, Elsevier, vol. 40(C), pages 242-258.
    49. Anthony Birchwood & Michael Brei & Dorian Noel, 2016. "Bank interest margins and regulation in Central America and the Caribbean," Working Papers hal-04141575, HAL.
    50. Hamed Ahmad Almahadin, 2022. "Spillover Effects of US Monetary Policy on Banking Development: Evidence from the Asian Region," Global Business Review, International Management Institute, vol. 23(1), pages 7-19, February.
    51. Svaleryd, Helena & Vlachos, Jonas, 2002. "Financial Markets, Industrial Specialization and Comparative Advantage - Evidence from OECD Countries," Research Papers in Economics 2002:6, Stockholm University, Department of Economics.
    52. Kulvinder Purewal & Hazwan Haini, 2022. "Re-examining the effect of financial markets and institutions on economic growth: evidence from the OECD countries," Economic Change and Restructuring, Springer, vol. 55(1), pages 311-333, February.
    53. A.R. Kemal & Abdul Qayyum & Muhammad Nadim Hanif, 2007. "Financial Development and Economic Growth: Evidence from a Heterogeneous Panel of High Income Countries," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 12(1), pages 1-34, Jan-Jun.
    54. Emilio Munene Gachoki, 2023. "The Impact of Financial Development on Inflation: Empirical Evidence from Kenya using the ARDL Approach," International Journal of Science and Business, IJSAB International, vol. 28(1), pages 147-160.
    55. Bello K. Ajide, 2020. "Fragmentation and financial development in Sub-Saharan Africa Countries: the case of diversity debit versus diversity dividend theses," Economic Change and Restructuring, Springer, vol. 53(3), pages 379-428, August.
    56. Sanga,Dimitri & Gui-Diby,Steve Loris, 2020. "Inflation Threshold Levels and Economic Growth in the Franc Zone Countries," Policy Research Working Paper Series 9405, The World Bank.
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    3. Edgar A. Ghossoub & Robert R. Reed, 2019. "Banking competition, production externalities, and the effects of monetary policy," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 67(1), pages 91-154, February.
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    5. Noritaka Kudoh & Hong Thang Nguyen, 2011. "Taylor rules and the effects of debt-financed fiscal policy in a monetary growth model," Economics Bulletin, AccessEcon, vol. 31(3), pages 2480-2490.
    6. Edgar A. Ghossoub & Robert Reed, 2008. "The Stock Market, Monetary Policy, and Economic Development," Working Papers 0071, College of Business, University of Texas at San Antonio.
    7. Saroj Dhital & Pedro Gomis-Porqueras & Joseph H. Haslag, 2020. "Monetary and Fiscal Policy Interactions in a Frictional Model of Money, Nominal Public Debt and Banking," Working Papers 2002, Department of Economics, University of Missouri.
    8. Rangan Gupta, 2005. "Costly State Monitoring and Reserve Requirements," Annals of Economics and Finance, Society for AEF, vol. 6(2), pages 263-288, November.
    9. Kaas, Leo & Weinrich, Gerd, 2003. "Money And Growth In A Production Economy With Multiple Assets," Macroeconomic Dynamics, Cambridge University Press, vol. 7(5), pages 670-690, November.
    10. Richard C. Barnett, 2004. "Coordinating Macroeconomic Policy In A Simple Ak Growth Model," Econometric Society 2004 Latin American Meetings 299, Econometric Society.
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    12. von Thadden, Leopold, 2012. "Monetary policy rules in an OLG model with non-superneutral money," Journal of Macroeconomics, Elsevier, vol. 34(1), pages 147-166.
    13. Edgar A. Ghossoub, 2009. "Liquidity Risk and Banks’ Asset Composition: Implications for Monetary Policy," Working Papers 0096, College of Business, University of Texas at San Antonio.
    14. Tetsuo Ono, 2020. "Fiscal rules in a monetary economy: Implications for growth and welfare," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 22(1), pages 190-219, February.
    15. Edgar A. Ghossoub & Robert R. Reed, 2021. "Banking Competition, Capital Accumulation, And Interest On Reserves," Economic Inquiry, Western Economic Association International, vol. 59(2), pages 671-695, April.
    16. Philippe Michel & Bertrand Wigniolle, 2005. "Cash-in-advance constraints, bubbles and monetary policy," Post-Print halshs-00268861, HAL.
    17. Dhital, Saroj & Gomis-Porqueras, Pedro & Haslag, Joseph H., 2021. "Monetary and fiscal policy interactions in a frictional model of fiat money, nominal public debt and banking," European Economic Review, Elsevier, vol. 139(C).
    18. Tarishi Matsuoka, 2011. "Monetary Policy and Banking Structure," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(6), pages 1109-1129, September.
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    20. Edgar A. Ghossoub & Robert R. Reed, 2013. "The Stock Market, Monetary Policy, and Economic Development," Southern Economic Journal, John Wiley & Sons, vol. 79(3), pages 639-658, January.
    21. Bruce Smith & Warren E. Weber, 1998. "Private money creation and the Suffolk Banking System," Working Papers 591, Federal Reserve Bank of Minneapolis.
    22. Ghossoub, Edgar A. & Reed, Robert R., 2015. "The size distribution of the banking sector and the effects of monetary policy," European Economic Review, Elsevier, vol. 75(C), pages 156-176.
    23. Gaetano Antinolfi & Claudia M. Landeo & Maxim Nikitin, 2007. "Dollarization and the inflation threshold," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 40(2), pages 628-649, May.
    24. Robert R. Reed & Stacey L. Schreft, 2007. "Phillips curves, monetary policy, and a labor market transmission mechanism," Research Working Paper RWP 07-12, Federal Reserve Bank of Kansas City.
    25. Edgar A. Ghossoub & Robert Reed, 2009. "The Cost Of Capital, Asset Prices And The Affects Of Monetary Policy," Working Papers 0068, College of Business, University of Texas at San Antonio.
    26. John H. Boyd & Pedro Gomis & Sungkyu Kwak & Bruce D. Smith, 2000. "A User's Guide to Banking Crises," Monash Economics Working Papers archive-36, Monash University, Department of Economics.
    27. Tarishi Matsuoka, 2011. "Temporary Bubbles and Discount Window Policy," KIER Working Papers 802, Kyoto University, Institute of Economic Research.
    28. Edgar A. Ghossoub, 2013. "Banking Competition: Implications for Welfare and Monetary Policy," Working Papers 0182eco, College of Business, University of Texas at San Antonio.
    29. Andreas Schabert, 2004. "On the Relevance of Open Market Operations," 2004 Meeting Papers 272, Society for Economic Dynamics.
    30. Harrison, Andre & Reed, Robert R., 2023. "International capital flows, liquidity risk, and monetary policy," Journal of Macroeconomics, Elsevier, vol. 77(C).
    31. Antoine Martin, 2005. "Reconciling Bagehot with the Fed's response to September 11," Staff Reports 217, Federal Reserve Bank of New York.
    32. Bhattacharya, Joydeep & Haslag, Joseph & Martin, Antoine, 2009. "Optimal monetary policy and economic growth," European Economic Review, Elsevier, vol. 53(2), pages 210-221, February.
    33. Narayan Bulusu, 2020. "Why Do Central Banks Make Public Announcements of Open Market Operations?," Staff Working Papers 20-35, Bank of Canada.
    34. Burkhard Heer & Andreas Schabert, 2000. "Open Market Operations as a Monetary Policy Shock Measure in a Quantitative Business Cycle Model," Econometric Society World Congress 2000 Contributed Papers 1040, Econometric Society.
    35. Edgar A. Ghossoub & Robert R. Reed, 2015. "Banking Competition, Production Externalities, and the Effects of Monetary Policy," Working Papers 0167eco, College of Business, University of Texas at San Antonio.
    36. Juan Carlos Medina Guirado, 2020. "Unconventional monetary policy and credit market activity," Estudios Regionales en Economía, Población y Desarrollo. Cuadernos de Trabajo de la Universidad Autónoma de Ciudad Juárez. 57, Cuerpo Académico 41 de la Universidad Autónoma de Ciudad Juárez, revised 04 Jan 2020.
    37. Schreft, Stacey L. & Smith, Bruce D., 1997. "Money, Banking, and Capital Formation," Journal of Economic Theory, Elsevier, vol. 73(1), pages 157-182, March.
    38. Antoine Martin, 2009. "Reconciling Bagehot and the Fed's Response to September 11," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(2‐3), pages 397-415, March.
    39. Andreas Schabert, "undated". "Identifying Monetary Policy Shocks with Changes in Open Market Operations," Working Papers 2003_10, Business School - Economics, University of Glasgow, revised Jun 2003.
    40. Ghossoub, Edgar A., 2012. "Liquidity risk and financial competition: Implications for asset prices and monetary policy," European Economic Review, Elsevier, vol. 56(2), pages 155-173.
    41. Carli, Francesco & Gomis-Porqueras, Pedro, 2021. "Real consequences of open market operations: The role of limited commitment," European Economic Review, Elsevier, vol. 132(C).
    42. Barnes, Michelle & Boyd, John H. & Smith, Bruce D., 1999. "Inflation and asset returns," European Economic Review, Elsevier, vol. 43(4-6), pages 737-754, April.
    43. Edgar A. Ghossoub, 2015. "Endogenous Financial Structure and Monetary Policy," Working Papers 0153eco, College of Business, University of Texas at San Antonio.
    44. Valerie R. Bencivenga & Gabriele Camera, 2011. "Banking in a Matching Model of Money and Capital," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(s2), pages 449-476, October.
    45. John Duffy & Maxim Nikitin, 2004. "Dollarization Traps," Econometric Society 2004 North American Summer Meetings 456, Econometric Society.
    46. Leopold von Thadden, 2004. "Active monetary policy, passive fiscal policy and the value of pure debt: some further monetarist arithmetic," Money Macro and Finance (MMF) Research Group Conference 2003 108, Money Macro and Finance Research Group.
    47. Ghossoub, Edgar A. & Reed, Robert R., 2017. "Financial development, income inequality, and the redistributive effects of monetary policy," Journal of Development Economics, Elsevier, vol. 126(C), pages 167-189.
    48. Edgar A. Ghossoub, 2016. "Commercial Banks, Credit Unions, and Monetary Policy," Working Papers 0174eco, College of Business, University of Texas at San Antonio.
    49. Reed, Robert R. & Ume, Ejindu S., 2019. "Housing, liquidity risk, and monetary policy," Journal of Macroeconomics, Elsevier, vol. 60(C), pages 138-162.
    50. von Thadden, Leopold, 2004. "Active monetary policy, passive fiscal policy and the value of public debt: Some further monetarist arithmetic," Journal of Macroeconomics, Elsevier, vol. 26(2), pages 223-251, June.
    51. Edgar A. Ghossoub, 2015. "Endogenous Financial Structure and Monetary Policy," Working Papers 0162eco, College of Business, University of Texas at San Antonio.
    52. Michel, Philippe & Wigniolle, Bertrand, 2003. "Temporary bubbles," Journal of Economic Theory, Elsevier, vol. 112(1), pages 173-183, September.

  21. Stacey L. Schreft & Bruce Smith, 1997. "The evolution of cash transactions: some implications for monetary policy," Financial Services working paper 97-04, Federal Reserve Bank of Cleveland.

    Cited by:

    1. Pedro Gomis-Porqueras, 2000. "Global Dynamics In Macroeconomics: A General Equilibrium Example," Computing in Economics and Finance 2000 217, Society for Computational Economics.
    2. Hao Jin & Junfeng Wang, 2023. "The Effects of a Money-Financed Fiscal Stimulus Under Fiscal Stress," CAEPR Working Papers 2023-006 Classification-E, Center for Applied Economics and Policy Research, Department of Economics, Indiana University Bloomington.
    3. Andreas Schabert, 2006. "Central Bank Instruments, Fiscal Policy Regimes, and the Requirements for Equilibrium Determinacy," Tinbergen Institute Discussion Papers 06-025/2, Tinbergen Institute.
    4. Tetsuo Ono, 2020. "Fiscal rules in a monetary economy: Implications for growth and welfare," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 22(1), pages 190-219, February.
    5. Robert R. Reed & Edgar A. Ghossoub, 2013. "Thresholds and the Welfare Cost of Inflation," Working Papers 0186eco, College of Business, University of Texas at San Antonio.
    6. Ngotran, Duong, 2016. "The E-Monetary Theory," MPRA Paper 77206, University Library of Munich, Germany, revised 25 Feb 2017.
    7. Seitz, Franz & Krueger, Malte, 2017. "The Blessing of Cash," International Cash Conference 2017 – War on Cash: Is there a Future for Cash? 162911, Deutsche Bundesbank.
    8. Alexander Kriwoluzky & Christian A. Stoltenberg, 2015. "Monetary Policy and the Transaction Role of Money in the US," Economic Journal, Royal Economic Society, vol. 125(587), pages 1452-1473, September.
    9. Gomis-Porqueras, Pere & Haro, Alex, 2003. "Global dynamics in macroeconomics: an overlapping generations example," Journal of Economic Dynamics and Control, Elsevier, vol. 27(11), pages 1941-1959.
    10. Hung, Fu-Sheng, 2005. "Optimal composition of government public capital financing," Journal of Macroeconomics, Elsevier, vol. 27(4), pages 704-723, December.
    11. Stacey L. Schreft & Bruce Smith, 2002. "The conduct of monetary policy with a shrinking stock of government debt," Proceedings, Federal Reserve Bank of Cleveland, pages 848-886.
    12. Stacey Schreft & Bruce Smith, 2008. "The social value of risk-free government debt," Annals of Finance, Springer, vol. 4(2), pages 131-155, March.

  22. Bruce Smith & Cheng Wang, 1997. "Repeated insurance relationships in a costly state verification model: with an application to deposit insurance," Working Papers 574, Federal Reserve Bank of Minneapolis.

    Cited by:

    1. Jain, N. & Imai, S., 2015. "Dynamic Costly State Verification with Repeated Loans: a two-period analysis," Working Papers 13889, Department of Economics, City University London.
    2. Jin, Yi & Leung, Charles Ka Yui & Zeng, Zhixiong, 2010. "Real Estate, the External Finance Premium and Business Investment: A Quantitative Dynamic General Equilibrium Analysis," MPRA Paper 26722, University Library of Munich, Germany.
    3. Gaetano Antinolfi, 2012. "Costly Monitoring, Dynamic Incentives, and Default," 2012 Meeting Papers 892, Society for Economic Dynamics.
    4. Espinosa-Vega, Marco A. & Smith, Bruce D. & Yip, Chong K., 2002. "Monetary Policy and Government Credit Programs," Journal of Financial Intermediation, Elsevier, vol. 11(3), pages 232-268, July.
    5. Ilhyock Shim, 2011. "Dynamic Prudential Regulation: Is Prompt Corrective Action Optimal?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(8), pages 1625-1661, December.
    6. Wang, C., 1995. "Incentives, CEO Compensation, and Shareholder Wealth in a Dynamic Agency Model," GSIA Working Papers 1995-08, Carnegie Mellon University, Tepper School of Business.
    7. Edward Simpson Prescott, 2004. "Auditing and Bank Capital Regulation," Working Papers wp2004_0412, CEMFI.
    8. Cyril Monnet & Erwan Quintin, 2005. "Optimal contracts in a dynamic costly state verification model," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 26(4), pages 867-885, November.
    9. Kocherlakota Narayana R, 2001. "Risky Collateral and Deposit Insurance," The B.E. Journal of Macroeconomics, De Gruyter, vol. 1(1), pages 1-20, February.
    10. John H. Boyd & Bruce Smith, 1996. "The use of debt and equity in optimal financial contracts," Working Papers 537, Federal Reserve Bank of Minneapolis.

  23. Valerie Bencivenga & Elisabeth Huybens & Bruce D. Smith, 1997. "What to Stabilize in the Open Economy?: Some Notes on a Problem of Keynes," Working Papers 9709, Centro de Investigacion Economica, ITAM.

    Cited by:

    1. Michael Kumhof, 2000. "A Critical View of Inflation Targeting: Crises, Limited Sustainability, and Aggregate Shocks," Working Papers 00022, Stanford University, Department of Economics.

  24. John H. Boyd & Ross Levine & Bruce Smith, 1996. "Inflation and financial market performance," Working Papers (Old Series) 9617, Federal Reserve Bank of Cleveland.

    Cited by:

    1. Alexandru Minea & Patrick Villieu, 2008. "Threshold Effects in Monetary and Fiscal Policies in a Growth Model : Assessing the Importance of the Financial System," Post-Print halshs-00364855, HAL.
    2. Aguima Aime Bernard Lompo, 2021. "How Financial Sector Development Improve Tax Revenue Mobilization for Developing Countries?," Working Papers hal-03328502, HAL.
    3. Maryam Barzegar Marvasti & Somayeh Razzaghi, 2020. "Investigating the Determinants of Financial Development in OPEC Countries: An Application of Bayesian Model Averaging Approach," International Journal of Energy Economics and Policy, Econjournals, vol. 10(1), pages 342-352.
    4. Lebdaoui Hind & Wild Joerg, 2016. "Islamic Banking and Financial Development," Review of Middle East Economics and Finance, De Gruyter, vol. 12(2), pages 201-224, August.
    5. Javier Andrés & Ignacio Hernando & J. David López-Salido, 1999. "The Role of the Financial System in the Growth-Inflation Link: the OECD Experience," Working Papers 9920, Banco de España.
    6. Khan, Mohsin S. & Senhadji, Abdelhak S. & Smith, Bruce D., 2006. "Inflation And Financial Depth," Macroeconomic Dynamics, Cambridge University Press, vol. 10(2), pages 165-182, April.
    7. Omay, Tolga & Öznur Kan, Elif, 2010. "Re-examining the threshold effects in the inflation-growth nexus with cross-sectionally dependent non-linear panel: Evidence from six industrialized economies," Economic Modelling, Elsevier, vol. 27(5), pages 996-1005, September.
    8. Ho, Sin-Yu & Odhiambo, Nicholas, 2017. "Analysing the macroeconomic drivers of stock Market development in the Philippines," Working Papers 23439, University of South Africa, Department of Economics.
    9. Huybens, Elisabeth & Smith, Bruce D., 1999. "Inflation, financial markets and long-run real activity," Journal of Monetary Economics, Elsevier, vol. 43(2), pages 283-315, April.
    10. Sin-Yu Ho, 2019. "The macroeconomic determinants of stock market development in Malaysia: an empirical analysis," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 21(2), pages 174-193.
    11. Valev, Neven & Buyukkarabacak, Berrak & Beck, Thorsten & Rioja, Felix, 2009. "Who Gets the Credit? And Does It Matter? Household vs. Firm Lending across Countries," CEPR Discussion Papers 7400, C.E.P.R. Discussion Papers.
    12. Nazima Ellahi & Adiqa Kausar Kiani & Muhammad Awais & Hina Affandi & Rabia Saghir & Sarah Qaim, 2021. "Investigating the Institutional Determinants of Financial Development: Empirical Evidence From SAARC Countries," SAGE Open, , vol. 11(2), pages 21582440211, April.
    13. Özbilgin, Murat H., 2012. "Currency substitution, inflation, and welfare," Journal of Development Economics, Elsevier, vol. 99(2), pages 358-369.
    14. Holman, Jill A. & Neanidis, Kyriakos C., 2006. "Financing government expenditures in an open economy," Journal of Economic Dynamics and Control, Elsevier, vol. 30(8), pages 1315-1337, August.
    15. Barnes, Michelle L., 1999. "Inflation and returns revisited: a TAR approach," Journal of Multinational Financial Management, Elsevier, vol. 9(3-4), pages 233-245, November.
    16. Joseph H. Haslag & Jahyeong Koo, 1999. "Financial repression, financial development and economic growth," Working Papers 9902, Federal Reserve Bank of Dallas.
    17. Kizito Uyi Ehigiamusoe & Mohamad Shaharudin Samsurijan, 2021. "What matters for finance‐growth nexus? A critical survey of macroeconomic stability, institutions, financial and economic development," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 5302-5320, October.
    18. Alexandru Minea & Patrick Villieu, 2010. "Financial Development, Institutional Quality and Maximizing-Growth Trade-Off in Government Finance," Post-Print hal-00488706, HAL.
    19. Emmanuel Nii Abbey, 2013. "Inflation and Financial Development: Evidence," American Journal of Economics and Business Administration, Science Publications, vol. 4(4), pages 227-236, July.
    20. Alexandros Kontonikas & Alberto Montagnoli & Nicola Spagnolo, 2006. "Stock Returns and Inflation: The Impact of Inflation Targeting," Working Papers 2005_11, Business School - Economics, University of Glasgow.
    21. John H. Boyd & Bruce A. Champ, 2003. "Inflation and financial market performance: what have we learned in the last ten years?," Working Papers (Old Series) 0317, Federal Reserve Bank of Cleveland.
    22. Hung, Fu-Sheng, 2003. "Inflation, financial development, and economic growth," International Review of Economics & Finance, Elsevier, vol. 12(1), pages 45-67.
    23. Cottarelli, Carlo & Dell'Ariccia, Giovanni & Vladkova-Hollar, Ivanna, 2005. "Early birds, late risers, and sleeping beauties: Bank credit growth to the private sector in Central and Eastern Europe and in the Balkans," Journal of Banking & Finance, Elsevier, vol. 29(1), pages 83-104, January.
    24. Sharma, Susan Sunila, 2010. "The relationship between energy and economic growth: Empirical evidence from 66 countries," Applied Energy, Elsevier, vol. 87(11), pages 3565-3574, November.
    25. Muhammad Ayyoub, 2016. "Inflation-growth nexus in developing economies: New empirical evidence from a dis-aggregated approach," Economics working papers 2016-02, Department of Economics, Johannes Kepler University Linz, Austria.
    26. Kadilli, Anjeza, 2015. "Predictability of stock returns of financial companies and the role of investor sentiment: A multi-country analysis," Journal of Financial Stability, Elsevier, vol. 21(C), pages 26-45.
    27. Jakob Madsen, 2007. "Pitfalls in estimates of the relationship between stock returns and inflation," Empirical Economics, Springer, vol. 33(1), pages 1-21, July.
    28. Barnes, Michelle & Boyd, John H. & Smith, Bruce D., 1999. "Inflation and asset returns," European Economic Review, Elsevier, vol. 43(4-6), pages 737-754, April.
    29. Ho, Sin-Yu, 2017. "The Macroeconomic Determinants of Stock Market Development: Evidence from Malaysia," MPRA Paper 77232, University Library of Munich, Germany.
    30. Bhattacharya, Joydeep, 2003. "Monetary policy and the distribution of income," ISU General Staff Papers 200304220700001192, Iowa State University, Department of Economics.
    31. Marco A. Espinosa-Vega & Steven Russell, 1998. "The long-run real effects of monetary policy: Keynesian predictions from a neoclassical model," FRB Atlanta Working Paper 98-6, Federal Reserve Bank of Atlanta.
    32. Ho, Sin-Yu & Odhiambo, Nicholas, 2017. "The macroeconomic drivers of stock market development: Evidence from Hong Kong," Working Papers 23438, University of South Africa, Department of Economics.
    33. Ho, Sin-Yu, 2017. "The Macroeconomic Determinants of Stock Market Development: Evidence from South Africa," MPRA Paper 76493, University Library of Munich, Germany.
    34. Fu-Sheng Hung, 2001. "Fiscal, Monetary, and Reserve Requirement Policy in an Endogenous Growth with Financial Market Imperfections," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 26(1), pages 61-82, June.
    35. Jonathan Tuck & Shane Barratt & Stephen Boyd, 2021. "Portfolio Construction Using Stratified Models," Papers 2101.04113, arXiv.org, revised Feb 2021.
    36. Rodrigues, Bruno Dore & Souza, Reinaldo Castro & Stevenson, Maxwell J., 2012. "An analysis of intraday market behaviour before takeover announcements," International Review of Financial Analysis, Elsevier, vol. 21(C), pages 23-32.
    37. Paul Wachtel & Peter L. Rousseau, 2000. "Inflation, Financial Development and Growth," Working Papers 00-10, New York University, Leonard N. Stern School of Business, Department of Economics.
    38. Jill A. Holman, 2000. "Government budgetary policies, economic growth, and currency substitution in a small open economy," Research Working Paper RWP 00-08, Federal Reserve Bank of Kansas City.

  25. Elisabeth Huybens & Bruce D. Smith, 1996. "Financial Market Frictions, Monetary Policy and Capital Accumulation in a Small Open Economy," Working Papers 9608, Centro de Investigacion Economica, ITAM.

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    1. Wallace, Neil, 1998. "Introduction to Modeling Money and Studying Monetary Policy," Journal of Economic Theory, Elsevier, vol. 81(2), pages 223-231, August.
    2. Castaneda, Gonzalo, 2006. "Economic growth and concentrated ownership in stock markets," Journal of Economic Behavior & Organization, Elsevier, vol. 59(2), pages 249-286, February.
    3. Michael Adusei, 2016. "Does Entrepreneurship Promote Economic Growth in Africa?," African Development Review, African Development Bank, vol. 28(2), pages 201-214, June.
    4. Bhattacharya, Joydeep & Chakraborty, Shankha, 2005. "What do Information Frictions do?," ISU General Staff Papers 200510010700001265, Iowa State University, Department of Economics.
    5. Smith, R. Todd & van Egteren, Henry, 2005. "Inflation, investment and economic performance: The role of internal financing," European Economic Review, Elsevier, vol. 49(5), pages 1283-1303, July.
    6. Sulemana Mahawiya, 2015. "Financial sector development and threshold effect of inflation in ECOWAS and SADC: A Panel smooth transition regression approach," Working Papers 539, Economic Research Southern Africa.
    7. Osoro, Jared & Josea, Kiplangat, 2022. "Banking system adjustment to shock: The Kenyan case of liquidity-profitability trade-offs," KBA Centre for Research on Financial Markets and Policy Working Paper Series 56, Kenya Bankers Association (KBA).
    8. David, Drukker & Pedro, Gomis-Porqueras & Paula, Hernandez -erme, 2005. "Threshold effects in the relationship between inflation and growth: a new panel-data approach," MPRA Paper 38225, University Library of Munich, Germany.
    9. Jin, Yi & Leung, Charles Ka Yui & Zeng, Zhixiong, 2010. "Real Estate, the External Finance Premium and Business Investment: A Quantitative Dynamic General Equilibrium Analysis," MPRA Paper 26722, University Library of Munich, Germany.
    10. Walid Benayed & Foued Badr Gabsi, 2020. "Domestic public debt and financial development in Sub-Saharan Africa: Is there an inverted-U relationship?," Economics Bulletin, AccessEcon, vol. 40(1), pages 846-854.
    11. Tobias Broer, 2004. "Emerging Market Lending: Is Moral Hazard Endogenous?," Working Papers Central Bank of Chile 273, Central Bank of Chile.
    12. Sin-Yu Ho, 2018. "Macroeconomic determinants of stock market development in South Africa," International Journal of Emerging Markets, Emerald Group Publishing Limited, vol. 14(2), pages 322-342, December.
    13. Philippe Michel & Bertrand Wigniolle, 2005. "Cash-in-advance constraints, bubbles and monetary policy," Post-Print halshs-00268861, HAL.
    14. Christensen, Jens H. E. & Zhang, Xin, 2024. "Quantitative Easing, Bond Risk Premia and the Exchange Rate in a Small Open Economy," Working Paper Series 434, Sveriges Riksbank (Central Bank of Sweden).
    15. Ho, Sin-Yu & Odhiambo, Nicholas, 2017. "Analysing the macroeconomic drivers of stock Market development in the Philippines," Working Papers 23439, University of South Africa, Department of Economics.
    16. Huybens, Elisabeth & Smith, Bruce D., 1999. "Inflation, financial markets and long-run real activity," Journal of Monetary Economics, Elsevier, vol. 43(2), pages 283-315, April.
    17. Sin-Yu Ho, 2019. "The macroeconomic determinants of stock market development in Malaysia: an empirical analysis," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 21(2), pages 174-193.
    18. AL-ZUBI, Khaled & AL-RJOUB,Samer & ABU-MHAREB,E, 2006. "Financial Development And Economic Growth: A New Empirical Evidence From The Mena Countries, 1989-2001," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 6(3).
    19. Marco A. Espinosa-Vega & Bruce Smith & Chong K. Yip, 2000. "Barriers to international capital flows: when, why, how big, and for whom?," FRB Atlanta Working Paper 2000-16, Federal Reserve Bank of Atlanta.
    20. W. Adrián Risso & Edgar J. Sánchez Carrera, 2010. "Análisis de cointegración y valores umbrales entre la inflación y el crecimiento económico en México: 1970-2007," Ensayos Revista de Economia, Universidad Autonoma de Nuevo Leon, Facultad de Economia, vol. 0(2), pages 77-98, November.
    21. Manoel Bittencourt, 2008. "Inflation and Financial Development: Evidence from Brazil," Working Papers 067, Economic Research Southern Africa.
    22. Chang, Chia-Ying, 2012. "When banking systems meet currencies," Working Paper Series 18620, Victoria University of Wellington, School of Economics and Finance.
    23. Nigmonov, Asror & Shams, Syed & Alam, Khorshed, 2022. "Macroeconomic determinants of loan defaults: Evidence from the U.S. peer-to-peer lending market," Research in International Business and Finance, Elsevier, vol. 59(C).
    24. Marco Espinosa-Vega & Bruce D. Smith & Chong K. Yip, 1999. "On Government Credit Programs," Computing in Economics and Finance 1999 351, Society for Computational Economics.
    25. Afangideh U. J. & Garbobiya T. S. & Umar F. B. & Usman N., 2020. "The Impact of Inflation on Financial Sector Development: Evidence from Nigeria," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 12(2), pages 1-56, February.
    26. Barnes, Michelle L., 1999. "Inflation and returns revisited: a TAR approach," Journal of Multinational Financial Management, Elsevier, vol. 9(3-4), pages 233-245, November.
    27. Hossain, Monzur & Rafiq, Farhana, 2012. "Global Commodity Price Volatility and Domestic Inflation: Impact on the Performance of the Financial Sector in Bangladesh," MPRA Paper 52167, University Library of Munich, Germany.
    28. Mavikela, Nomahlubi & Mhaka, Simba & Phiri, Andrew, 2018. "The inflation-growth relationship in SSA inflation targeting countries," MPRA Paper 82141, University Library of Munich, Germany.
    29. Roberto Leon-Gonzalez & Thanabalasingam Vinayagathasan, 2015. "Robust Determinants of Growth in Asian Developing Economies: A Bayesian Panel Data Model Averaging Approach," GRIPS Discussion Papers 15-15, National Graduate Institute for Policy Studies.
    30. Kim, Dong-Hyeon & Lin, Shu-Chin, 2011. "Nonlinearity in the financial developmentâincome inequality nexus," Journal of Comparative Economics, Elsevier, vol. 39(3), pages 310-325, September.
    31. Emmanuel Nii Abbey, 2013. "Inflation and Financial Development: Evidence," American Journal of Economics and Business Administration, Science Publications, vol. 4(4), pages 227-236, July.
    32. Espinosa-Vega, Marco A. & Smith, Bruce D. & Yip, Chong K., 2002. "Monetary Policy and Government Credit Programs," Journal of Financial Intermediation, Elsevier, vol. 11(3), pages 232-268, July.
    33. Yakubu Awudu Sare & Eric Evans Osei Opoku & Muazu Ibrahim & Isaac Koomson, 2019. "Financial sector development convergence in Africa: Evidence from bank- and market-based measures," Economics and Business Letters, Oviedo University Press, vol. 8(4), pages 166-175.
    34. Abrar, Afsheen & Hasan, Iftekhar & Kabir, Rezaul, 2021. "Finance-growth nexus and banking efficiency: The impact of microfinance institutions," Journal of Economics and Business, Elsevier, vol. 114(C).
    35. Nasir, Iqbal & Saima, Nawaz, 2010. "Investment, inflation and economic growth nexus," MPRA Paper 27163, University Library of Munich, Germany.
    36. Khaled Guesmi & Nabila BOUKEF JLASSI & Ahmed Atil & Imen Haouet, 2016. "On the Influence of Oil Prices on Financial Variables," Economics Bulletin, AccessEcon, vol. 36(4), pages 2261-2274.
    37. Mrs. Poonam Gupta & Mr. Thierry Tressel & Ms. Enrica Detragiache, 2005. "Finance in Lower Income Countries: An Empirical Exploration," IMF Working Papers 2005/167, International Monetary Fund.
    38. Marco A. Espinosa-Vega & Bruce Smith & Chong K. Yip, 1999. "Barriers to international capital flows: who should erect them and how big should they be?," FRB Atlanta Working Paper 99-6, Federal Reserve Bank of Atlanta.
    39. Chang, Chia-Ying, 2012. "Can a home country benefit from FDI? A theoretical analysis," Working Paper Series 18623, Victoria University of Wellington, School of Economics and Finance.
    40. Danilo Trupkin & Raul Ibarra, 2011. "The Relationship between Inflation and Growth:A Panel Smooth Transition Regression Approach for Developed and Developing Countries," Documentos de Trabajo/Working Papers 1107, Facultad de Ciencias Empresariales y Economia. Universidad de Montevideo..
    41. Mr. Dhaneshwar Ghura & Mr. Kangni R Kpodar & Mr. Raju J Singh, 2009. "Financial Deepening in the CFA Franc Zone: The Role of Institutions," IMF Working Papers 2009/113, International Monetary Fund.
    42. Kim, Dong-Hyeon & Lin, Shu-Chin, 2023. "Income inequality, inflation and financial development," Journal of Empirical Finance, Elsevier, vol. 72(C), pages 468-487.
    43. Gokan, Yoichi, 2011. "Poverty traps, the money growth rule, and the stage of financial development," Journal of Economic Dynamics and Control, Elsevier, vol. 35(8), pages 1273-1287, August.
    44. Sin-Yu Ho & Bernard Njindan Iyke, 2017. "Determinants of stock market development: a review of the literature," Studies in Economics and Finance, Emerald Group Publishing Limited, vol. 34(1), pages 143-164, March.
    45. Barnes, Michelle & Boyd, John H. & Smith, Bruce D., 1999. "Inflation and asset returns," European Economic Review, Elsevier, vol. 43(4-6), pages 737-754, April.
    46. Thi Hong Hanh Pham, 2015. "Determinants of Bank Lending," Working Papers hal-01158241, HAL.
    47. Ho, Sin-Yu, 2017. "The Macroeconomic Determinants of Stock Market Development: Evidence from Malaysia," MPRA Paper 77232, University Library of Munich, Germany.
    48. Nepal Rastra Bank, 2017. "Optimal Inflation Rate for Nepal," NRB Economic Review, Nepal Rastra Bank, Economic Research Department, vol. 29(1), pages 1-18, April.
    49. Huang, Ho-Chuan & Lin, Shu-Chin & Kim, Dong-Hyeon & Yeh, Chih-Chuan, 2010. "Inflation and the finance-growth nexus," Economic Modelling, Elsevier, vol. 27(1), pages 229-236, January.
    50. Ho, Sin-Yu & Odhiambo, Nicholas, 2017. "The macroeconomic drivers of stock market development: Evidence from Hong Kong," Working Papers 23438, University of South Africa, Department of Economics.
    51. John Duffy & Maxim Nikitin, 2004. "Dollarization Traps," Econometric Society 2004 North American Summer Meetings 456, Econometric Society.
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    53. Fadi Fawaz & Anis Mnif & Ani Popiashvili, 2021. "Impact of governance on economic growth in developing countries: a case of HIDC vs. LIDC," Journal of Social and Economic Development, Springer;Institute for Social and Economic Change, vol. 23(1), pages 44-58, June.
    54. Ho, Sin-Yu, 2017. "The Macroeconomic Determinants of Stock Market Development: Evidence from South Africa," MPRA Paper 76493, University Library of Munich, Germany.
    55. Ben Naceur Samy & Ghazouani Samir, 2005. "Does Inflation Impact on Financial Sector Performance in the MENA Region?," Review of Middle East Economics and Finance, De Gruyter, vol. 3(3), pages 48-58, December.
    56. Joseph Magnus Frimpong & Eric Fosu Oteng-Abayie, 2010. "When is Inflation Harmful? Estimating the Threshold Effect for Ghana," American Journal of Economics and Business Administration, Science Publications, vol. 2(3), pages 232-239, September.
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    58. Boyd, John H. & Levine, Ross & Smith, Bruce D., 2001. "The impact of inflation on financial sector performance," Journal of Monetary Economics, Elsevier, vol. 47(2), pages 221-248, April.
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  26. John H. Boyd & Bruce Smith, 1996. "The co-evolution of the real and financial sectors in the growth process," Working Papers 541, Federal Reserve Bank of Minneapolis.

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    1. Vo, Xuan Vinh, 2015. "Foreign ownership and stock return volatility – Evidence from Vietnam," Journal of Multinational Financial Management, Elsevier, vol. 30(C), pages 101-109.
    2. Geert Bekaert & Campbell R. Harvey, 2000. "Capital Flows and the Behavior of Emerging Market Equity Returns," NBER Chapters, in: Capital Flows and the Emerging Economies: Theory, Evidence, and Controversies, pages 159-194, National Bureau of Economic Research, Inc.
    3. Walid M.A. Ahmed, 2016. "Cross-border equity flows and market volatility: the case of Qatar Exchange," International Journal of Emerging Markets, Emerald Group Publishing Limited, vol. 11(3), pages 395-418, July.
    4. Bishnu Prasad Gautam, Ph.D., 2015. "Role of Financial Development in Economic Growth of Nepal: An Empirical Analysis," NRB Economic Review, Nepal Rastra Bank, Economic Research Department, vol. 27(1), pages 1-16, April.
    5. Bose, Niloy, 2005. "Endogenous growth and the emergence of equity finance," Journal of Development Economics, Elsevier, vol. 77(1), pages 173-188, June.
    6. Godfrey Akileng & Abbot Anthony Ogwang & Charles Ssendyona, 2018. "Determinants of performance of securities exchanges in East Africa," Journal of Finance and Investment Analysis, SCIENPRESS Ltd, vol. 7(3), pages 1-3.
    7. Suman Biswas & Altaf Hossain & Arnab Kumar Podder & Md. Nasif Hossain, 2018. "A Canonical Analysis on the Relationship between Banking Sector and Stock Market Development in Bangladesh," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 10(1), pages 167-176, January.
    8. Koetter, Michael & Wedow, Michael, 2006. "Finance and growth in a bank-based economy: is it quantity or quality that matters?," Discussion Paper Series 2: Banking and Financial Studies 2006,02, Deutsche Bundesbank.
    9. Howard Bodenhorn, 2016. "Two Centuries of Finance and Growth in the United States, 1790-1980," NBER Working Papers 22652, National Bureau of Economic Research, Inc.
    10. Beck, Thorsten & Albuquerque de Sousa, José & Van Dijk, Mathijs & van Bergeijk, Peter A.G., 2016. "Nascent markets: Understanding the success and failure of new stock markets," CEPR Discussion Papers 11604, C.E.P.R. Discussion Papers.
    11. Hatra Voghouei & M. Azail & Siong Law, 2013. "The effect of dynamic legal tradition on financial development: panel data evidence," European Journal of Law and Economics, Springer, vol. 35(1), pages 109-136, February.
    12. Mansur, Alfan & Nizar, Muhammad Afdi, 2019. "Mengukur Perkembangan Sektor Keuangan di Indonesia dan Faktor – Faktor yang Mempengaruhi [Assessing the Measurement and Determinants of Financial Sector Development in Indonesia]," MPRA Paper 96265, University Library of Munich, Germany, revised 30 Sep 2019.
    13. Ross Levine, 2000. "Are bank-based or market-based financial systems better?," Journal Economía Chilena (The Chilean Economy), Central Bank of Chile, vol. 3(1), pages 25-55, April.
    14. Ms. Hiroko Oura, 2008. "Financial Development and Growth in India: A Growing Tiger in a Cage?," IMF Working Papers 2008/079, International Monetary Fund.
    15. Ross Levine, 1997. "Napoleon, Bourses, and Growth in Latin America," Research Department Publications 4106, Inter-American Development Bank, Research Department.
    16. Lidiya Yemelyanova, 2021. "Relationship Between The Stock Market Development, Banking Sector Development And Economic Growth In The Cee Countries," Baltic Journal of Economic Studies, Publishing house "Baltija Publishing", vol. 7(3).
    17. Dr N’Diaye Mamadou, 2021. "Financial Development and Economic Growth: Case of Mali," Business, Management and Economics Research, Academic Research Publishing Group, vol. 7(4), pages 108-119, 12-2021.
    18. Ross Levine & Sara Zervos, "undated". "Stock markets, banks and economic growth ," CERF Discussion Paper Series 95-11, Economics and Finance Section, School of Social Sciences, Brunel University.
    19. Igue, Charlemagne Babatoundé, 2013. "Intermédiation financière et croissance économique : une approche basée sur le concept d’efficacité-X appliquée à la zone UEMOA," L'Actualité Economique, Société Canadienne de Science Economique, vol. 89(1), pages 7-37, Mars.
    20. Hasan, Iftekhar & Kobeissi, Nada & Wang, Haizhi & Zhou, Mingming, 2015. "Banking structure, marketization and small business development: Regional evidence from China," BOFIT Discussion Papers 11/2015, Bank of Finland Institute for Emerging Economies (BOFIT).
    21. Nabi, Mahmoud Sami, 2021. "لتشع تونس من جديد [Making the Tunisian Resurgence]," MPRA Paper 107225, University Library of Munich, Germany.
    22. Ross Levine, 1997. "Napoleón, bolsas y crecimiento en América Latina," Research Department Publications 4107, Inter-American Development Bank, Research Department.
    23. Baishali Agarwal, 2016. "FII Inflows into Indian IPOs and its Impact on the Indian Stock Market," Emerging Economy Studies, International Management Institute, vol. 2(1), pages 129-144, May.
    24. Ng, Adam & Ibrahim, Mansor H. & Mirakhor, Abbas, 2016. "Does trust contribute to stock market development?," Economic Modelling, Elsevier, vol. 52(PA), pages 239-250.
    25. Mariusz Jarmuzek & Mr. Tonny Lybek, 2018. "Can Good Governance Lower Financial Intermediation Costs?," IMF Working Papers 2018/279, International Monetary Fund.
    26. Keith Blackburn & Niloy Bose & Salvatore Capasso, 2005. "Financial Development, Financing Choice and Economic Growth," Review of Development Economics, Wiley Blackwell, vol. 9(2), pages 135-149, May.
    27. Levine, Ross, 2005. "Finance and Growth: Theory and Evidence," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 12, pages 865-934, Elsevier.
    28. Cheng, Su-Yin, 2012. "Substitution or complementary effects between banking and stock markets: Evidence from financial openness in Taiwan," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 22(3), pages 508-520.
    29. Salvatore Capasso, 2006. "Stock Market Development and Economic Growth," WIDER Working Paper Series RP2006-102, World Institute for Development Economic Research (UNU-WIDER).
    30. Valeriano F. García & Lin Liu, 1999. "Macroeconomic Determinants of Stock Market Development," Journal of Applied Economics, Universidad del CEMA, vol. 2, pages 29-59, May.
    31. Li, Songsong & Xu, Nan & Hui, Xiaofeng, 2020. "International investors and the multifractality property: Evidence from accessible and inaccessible market," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 559(C).
    32. Marandola, Ginevra, 2021. "Local Credit Rating Agencies: Is their economic role underrated?," The Quarterly Review of Economics and Finance, Elsevier, vol. 81(C), pages 143-156.
    33. Khattab Ahmed & Mpabe Bodjongo Mathieu Juliot & Ihadiyan Abid, 2015. "Financial Development, Financial Instability and Economic Growth: The Case of Maghreb Countries," International Journal of Economics and Financial Issues, Econjournals, vol. 5(4), pages 1043-1054.
    34. Zhang, Ping & Wang, Yiru, 2023. "The bright side of analyst coverage on corporate innovation: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 89(C).
    35. Bolbol, Ali A. & Fatheldin, Ayten & Omran, Mohammed M., 2005. "Financial development, structure, and economic growth: the case of Egypt, 1974-2002," Research in International Business and Finance, Elsevier, vol. 19(1), pages 171-194, March.
    36. Mr. Andreas Billmeier & Miss Isabella Massa, 2007. "What Drives Stock Market Development in the Middle East and Central Asia—Institutions, Remittances, or Natural Resources?," IMF Working Papers 2007/157, International Monetary Fund.
    37. Bougheas, Spiros, 2007. "Imperfect capital markets, income distribution and the choice of external finance: A financial equilibrium approach," The Quarterly Review of Economics and Finance, Elsevier, vol. 47(4), pages 507-520, September.
    38. Demirguc-Kunt, Asli & Huizinga, Harry, 1998. "Determinants of commercial bank interest margins and profitability : some international evidence," Policy Research Working Paper Series 1900, The World Bank.
    39. Davide Iacoboni & Alberto Zazzaro, 2000. "Legal system efficiency, information production, and technological choice: a banking model," Heterogeneity and monetary policy 0005, Universita di Modena e Reggio Emilia, Dipartimento di Economia Politica.
    40. Agénor, Pierre-Richard & Bayraktar, Nihal, 2023. "Capital requirements and growth in an open economy," Journal of Economic Dynamics and Control, Elsevier, vol. 147(C).
    41. Arnold, Lutz G. & Walz, Uwe, 1998. "Financial regimes, capital structure, and growth," Tübinger Diskussionsbeiträge 134, University of Tübingen, School of Business and Economics.
    42. Coval, Joshua D. & Thakor, Anjan V., 2005. "Financial intermediation as a beliefs-bridge between optimists and pessimists," Journal of Financial Economics, Elsevier, vol. 75(3), pages 535-569, March.
    43. Hirak Ray & Malay Kanti Ray & Joydeep Biswas, 2009. "Bank, Market and Economic Growth," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 10(2), pages 403-428, July.
    44. Salvatore Capasso, 2004. "Financial Markets, Development and Economic Growth: Tales of Informational Asymmetries," Journal of Economic Surveys, Wiley Blackwell, vol. 18(3), pages 267-292, July.
    45. Olivia S. Mitchell, "undated". "Building an Environment for Pension Reform in Developing Countries," Pension Research Council Working Papers 97-7, Wharton School Pension Research Council, University of Pennsylvania.
    46. Fohlin, Caroline, 1999. "Universal Banking in Pre-World War I Germany: Model or Myth?," Explorations in Economic History, Elsevier, vol. 36(4), pages 305-343, October.
    47. Veronika Dolar & Césaire Meh, 2002. "Financial Structure and Economic Growth: A Non-Technical Survey," Staff Working Papers 02-24, Bank of Canada.
    48. Agarwal, Sumit & Mohtadi, Hamid, 2004. "Financial markets and the financing choice of firms: Evidence from developing countries," Global Finance Journal, Elsevier, vol. 15(1), pages 57-70.
    49. Mahmoud Sami Nabi & Taoufik Rajhi, 2010. "Banking, Credit Market Imperfection and Economic Growth," Working Papers 540, Economic Research Forum, revised 09 Jan 2010.
    50. Lee, Bong-Soo, 2012. "Bank-based and market-based financial systems: Time-series evidence," Pacific-Basin Finance Journal, Elsevier, vol. 20(2), pages 173-197.
    51. John H. Boyd & Bruce Smith, 1996. "The use of debt and equity in optimal financial contracts," Working Papers 537, Federal Reserve Bank of Minneapolis.
    52. Catalan, Mario & Impavido, Gregorio & Musalem, Alberto R., 2000. "Contractual savings or stock market development - Which leads?," Policy Research Working Paper Series 2421, The World Bank.
    53. Bamanga Umar & Sabri Nayan, 2018. "Poverty Reduction and Stock Market Development:Evidence from Africa," Pakistan Journal of Humanities and Social Sciences, International Research Alliance for Sustainable Development (iRASD), vol. 6(3), pages :338-356, September.
    54. Ben Naceur, Samy & Ghazouani, Samir & Omran, Mohammed, 2008. "Does stock market liberalization spur financial and economic development in the MENA region?," Journal of Comparative Economics, Elsevier, vol. 36(4), pages 673-693, December.
    55. Boyd, John H. & Levine, Ross & Smith, Bruce D., 2001. "The impact of inflation on financial sector performance," Journal of Monetary Economics, Elsevier, vol. 47(2), pages 221-248, April.
    56. Billmeier, Andreas & Massa, Isabella, 2009. "What drives stock market development in emerging markets--institutions, remittances, or natural resources?," Emerging Markets Review, Elsevier, vol. 10(1), pages 23-35, March.
    57. Schertler, Andrea, 2002. "Path dependencies in venture capital markets," Kiel Working Papers 1120, Kiel Institute for the World Economy (IfW Kiel).

  27. John H. Boyd & Bruce Smith, 1996. "The use of debt and equity in optimal financial contracts," Working Papers 537, Federal Reserve Bank of Minneapolis.

    Cited by:

    1. Albertazzi, Ugo & Gambacorta, Leonardo, 2009. "Bank profitability and the business cycle," Journal of Financial Stability, Elsevier, vol. 5(4), pages 393-409, December.
    2. Nguyen, Quang Khai, 2022. "Audit committee structure, institutional quality, and bank stability: evidence from ASEAN countries," Finance Research Letters, Elsevier, vol. 46(PA).
    3. Boyd, John H. & Hakenes, Hendrik, 2014. "Looting and risk shifting in banking crises," Journal of Economic Theory, Elsevier, vol. 149(C), pages 43-64.
    4. ATTAR, Andrea & CAMPIONI, Eloisa, 2003. "Costly state verification and debt contracts: a critical resume," LIDAM Reprints CORE 1712, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    5. Klein, Paul-Olivier & Weill, Laurent, 2016. "Why do companies issue sukuk?," Review of Financial Economics, Elsevier, vol. 31(C), pages 26-33.
    6. Jana BADRAN & Maria CHAMOUN, 2024. "Corporate Governance and Banking Stability in the MENA Region," International Business Research, Canadian Center of Science and Education, vol. 17(2), pages 1-31, April.
    7. Spiegel, Mark M., 2005. "Solvency runs, sunspot runs, and international bailouts," Journal of International Economics, Elsevier, vol. 65(1), pages 203-219, January.
    8. Hans K. Hvide & Todd Kaplan, 2003. "A Theory of Capital Structure with Strategic Defaults and Priority Violations," Microeconomics 0311001, University Library of Munich, Germany.
    9. Fahad Khalil & David Martimort & Bruno Maria Parigi, 2005. "Monitoring a Common Agent: Implications for Financial Contracting," CESifo Working Paper Series 1514, CESifo.
    10. Elosegui, Pedro Luis, 2003. "Aggregate risk, credit rationing and capital accumulation," The Quarterly Review of Economics and Finance, Elsevier, vol. 43(4), pages 668-696.
    11. Persons, John C., 1997. "Liars Never Prosper? How Management Misrepresentation Reduces Monitoring Costs," Journal of Financial Intermediation, Elsevier, vol. 6(4), pages 269-306, October.
    12. Benigno, Pierpaolo & Robatto, Roberto, 2016. "Private Money Creation and Equilibrium Liquidity," CEPR Discussion Papers 11242, C.E.P.R. Discussion Papers.
    13. ATTAR, Andréa, 2003. "Financial contracting along the business cycle," LIDAM Discussion Papers CORE 2003069, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).

  28. John H. Boyd & Bruce Smith, 1995. "The evolution of debt and equity markets in economic development," Working Papers 542, Federal Reserve Bank of Minneapolis.

    Cited by:

    1. Michael Brei & Giovanni Ferri & Leonardo Gambacorta, 2018. "Financial structure and income inequality," BIS Working Papers 756, Bank for International Settlements.
    2. Asli Demirguc-Kunt & Erik Feyen & Ross Levine, 2012. "The Evolving Importance of Banks and Securities Markets," NBER Working Papers 18004, National Bureau of Economic Research, Inc.
    3. Stefano Ugolini, 2021. "The Coevolution of Banks and Corporate Securities Markets: The Financing of Belgium’s Industrial Take-Off in the 1830s," Post-Print hal-02164060, HAL.
    4. Kim, Suk-Joong & Wu, Eliza, 2008. "Sovereign credit ratings, capital flows and financial sector development in emerging markets," Emerging Markets Review, Elsevier, vol. 9(1), pages 17-39, March.
    5. Chakraborty, Kalyan, 2020. "Development of financial market activities and economic growth: A cross-country evidence," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 60, pages 26-47.
    6. Edgar A. Ghossoub & Robert Reed, 2008. "The Stock Market, Monetary Policy, and Economic Development," Working Papers 0071, College of Business, University of Texas at San Antonio.
    7. Guei, Kore Marc Antoine, 2018. "Does financial structure matter for economic growth: An evidence from South Africa," MPRA Paper 92823, University Library of Munich, Germany.
    8. Joshua Cave & Kausik Chaudhuri & Subal C. Kumbhakar, 2020. "Do banking sector and stock market development matter for economic growth?," Empirical Economics, Springer, vol. 59(4), pages 1513-1535, October.
    9. Bose, Niloy, 2005. "Endogenous growth and the emergence of equity finance," Journal of Development Economics, Elsevier, vol. 77(1), pages 173-188, June.
    10. Salvatore Capasso, 2004. "Stock market development and economic growth: a matter of informational problems," Money Macro and Finance (MMF) Research Group Conference 2003 10, Money Macro and Finance Research Group.
    11. Nadine Levratto & Clarisse Nguedam Ntouko & Maarouf Ramadan, 2017. "Institutions and firms’ internationalization: an empirical analysis on three Middle East countries," EconomiX Working Papers 2017-37, University of Paris Nanterre, EconomiX.
    12. Statty Stattev, 2009. "Interactions between Financial Development and Economic Growth: Theoretical Approaches and Solutions," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 55-79.
    13. Randall Morck & Bernard Yeung, 2017. "East Asian Financial and Economic Development," NBER Working Papers 23845, National Bureau of Economic Research, Inc.
    14. ATTAR, Andrea & CAMPIONI, Eloisa, 2003. "Costly state verification and debt contracts: a critical resume," LIDAM Reprints CORE 1712, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    15. Howard Bodenhorn, 2016. "Two Centuries of Finance and Growth in the United States, 1790-1980," NBER Working Papers 22652, National Bureau of Economic Research, Inc.
    16. Rosa Capolupo, 2018. "Finance, Investment and Growth: Evidence for Italy," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 47(1), pages 145-186, February.
    17. Mattana, Elena & Panetti, Ettore, 2014. "Bank liquidity, stock market participation, and economic growth," Journal of Banking & Finance, Elsevier, vol. 48(C), pages 292-306.
    18. Rousseau, P. L. & Wachtel, P., 2000. "Equity markets and growth: Cross-country evidence on timing and outcomes, 1980-1995," Journal of Banking & Finance, Elsevier, vol. 24(12), pages 1933-1957, December.
    19. Rousseau, Peter L. & Xiao, Sheng, 2007. "Banks, stock markets, and China's `great leap forward'," Emerging Markets Review, Elsevier, vol. 8(3), pages 206-217, September.
    20. Salvatore Capasso, 2006. "Stock Market Development and Economic Growth: A Matter of Information Dynamics," CSEF Working Papers 166, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    21. Boyd, John H. & Jalal, Abu M., 2012. "A new measure of financial development: Theory leads measurement," Journal of Development Economics, Elsevier, vol. 99(2), pages 341-357.
    22. Didier, Tatiana & Levine, Ross & Llovet Montanes, Ruth & Schmukler, Sergio L., 2021. "Capital market financing and firm growth," Journal of International Money and Finance, Elsevier, vol. 118(C).
    23. Beck, T.H.L. & Munzele Maimbo, S. & Faye, I. & Triki, T., 2011. "Financing Africa : Through the crisis and beyond," Other publications TiSEM 334b6bd2-a7a6-47d5-be82-3, Tilburg University, School of Economics and Management.
    24. Beck, Thorsten & Rahman, Md. Habibur, 2006. "Creating a more efficient financial system : challenges for Bangladesh," Policy Research Working Paper Series 3938, The World Bank.
    25. Inder Sekhar Yadav & Debasis Pahi & Rajesh Gangakhedkar, 2019. "Financial Markets Development and Financing Choice of Firms: New Evidence from Asia," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 26(4), pages 429-451, December.
    26. Durusu-Ciftci, Dilek & Ispir, M. Serdar & Yetkiner, Hakan, 2017. "Financial development and economic growth: Some theory and more evidence," Journal of Policy Modeling, Elsevier, vol. 39(2), pages 290-306.
    27. Salifou Ouedraogo & Hamidou Sawadogo, 2022. "Financial development, financial structure and economic growth in the Sub‐Saharan African countries," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(3), pages 3139-3162, July.
    28. Christian Schröder, 2009. "Financial System and Innovations: Determinants of Early Stage Venture Capital in Europe," EIIW Discussion paper disbei167, Universitätsbibliothek Wuppertal, University Library.
    29. Beck, T.H.L., 2011. "The Role of Finance in Economic Development : Benefits, Risks, and Politics," Other publications TiSEM f9c81fe6-f2cd-4fa7-b598-e, Tilburg University, School of Economics and Management.
    30. Thorsten Beck & Ross Levine, 2002. "Industry Growth and Capital Allocation: Does Having a Market- or Bank-Based System Matter?," NBER Working Papers 8982, National Bureau of Economic Research, Inc.
    31. Salvatore Capasso & George Mavrotas, 2003. "Loan Processing Costs and Information Asymmetries-Implications for Financial Sector Development and Economic Growth," WIDER Working Paper Series DP2003-84, World Institute for Development Economic Research (UNU-WIDER).
    32. Carlin, Wendy & Mayer, Colin, 1999. "Finance, Investment and Growth," CEPR Discussion Papers 2233, C.E.P.R. Discussion Papers.
    33. Chung-Hua Shen & Chien-Chiang Lee & Shyh-Wei Chen & Zixiong Xie, 2011. "Roles played by financial development in economic growth: application of the flexible regression model," Empirical Economics, Springer, vol. 41(1), pages 103-125, August.
    34. Van Heerden, Dorathea & Rodrigues, Jose & Hockly, Dale & Lambert, Bongani & Taljard, Tjaart & Phiri, Andrew, 2013. "Efficient Market Hypothesis in South Africa: Evidence from a threshold autoregressive (TAR) model," MPRA Paper 50544, University Library of Munich, Germany.
    35. Dong‐Hyeon Kim & Ting‐Cih Chen & Shu‐Chin Lin, 2023. "Fertility and banking development: New panel evidence," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(4), pages 4220-4235, October.
    36. Kim, Dong-Hyeon & Lin, Shu-Chin & Chen, Ting-Cih, 2016. "Financial structure, firm size and industry growth," International Review of Economics & Finance, Elsevier, vol. 41(C), pages 23-39.
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    38. Ghulam Mujtaba Chaudhary & Zaheer Abbas & Jamshed Khurshid Meer, 2018. "Comparative Analysis Of Financial Systems In Context Of Global Financial Crisis," IBT Journal of Business Studies (JBS), Ilma University, Faculty of Management Science, vol. 14(1), pages 95-109.
    39. Emmanuel Carré & Guillaume L'Oeillet, 2018. "The Literature on the Finance–Growth Nexus in the Aftermath of the Financial Crisis: A Review," Post-Print halshs-01746069, HAL.
    40. Edgar A. Ghossoub & Robert R. Reed, 2013. "The Stock Market, Monetary Policy, and Economic Development," Southern Economic Journal, John Wiley & Sons, vol. 79(3), pages 639-658, January.
    41. Capelle-Blancard, Gunther & Couppey-Soubeyran, Jezabel & Soulat, Laurent, 2008. "The measurement of financial intermediation in Japan," Japan and the World Economy, Elsevier, vol. 20(1), pages 40-60, January.
    42. Booth, G. Geoffrey & Junttila, Juha & Kallunki, Juha-Pekka & Rahiala, Markku & Sahlstrom, Petri, 2006. "How does the financial environment affect the stock market valuation of R&D spending?," Journal of Financial Intermediation, Elsevier, vol. 15(2), pages 197-214, April.
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    44. Pejman Abedifar & Iftekhar Hasan & Amine Tarazi, 2014. "Finance-Growth Nexus and Dual Banking System: Relative Importance of Islamic Banks," Working Papers hal-01065676, HAL.
    45. Keith Blackburn & Niloy Bose & Salvatore Capasso, 2005. "Financial Development, Financing Choice and Economic Growth," Review of Development Economics, Wiley Blackwell, vol. 9(2), pages 135-149, May.
    46. Levine, Ross, 2005. "Finance and Growth: Theory and Evidence," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 12, pages 865-934, Elsevier.
    47. Takuma Kunieda & Akihisa Shibata, 2011. "Endogenous Growth and Fluctuations in an Overlapping Generations Economy with Credit Market Imperfections," Asia-Pacific Journal of Accounting & Economics, Taylor & Francis Journals, vol. 18(3), pages 333-357.
    48. Driffield, Nigel & Pal, Sarmistha, 2006. "Do external funds yield lower returns?: Recent evidence from East Asian economies," Journal of Asian Economics, Elsevier, vol. 17(1), pages 171-188, February.
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    51. Salvatore Capasso, 2006. "Stock Market Development and Economic Growth," WIDER Working Paper Series RP2006-102, World Institute for Development Economic Research (UNU-WIDER).
    52. Emmanuel Amissah & Spiros Bougheas & Fabrice Defever & Rod Falvey, 2016. "Financial system architecture and the patterns of international trade," CEP Discussion Papers dp1448, Centre for Economic Performance, LSE.
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    318. Candauda Arachchige Saliya, 2022. "Stock market development and nexus of market liquidity: The case of Fiji," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(4), pages 4364-4382, October.
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    Cited by:

    1. Beatrix Paal & Bruce D. Smith, 2013. "The sub-optimality of the Friedman rule and the optimum quantity of money," Annals of Economics and Finance, Society for AEF, vol. 14(2), pages 911-948, November.
    2. Michael D. Bordo & Michael J. Dueker & David C. Wheelock, 2001. "Aggregate Price Shocks and Financial Stability: The United Kingdom 1796-1999," NBER Working Papers 8583, National Bureau of Economic Research, Inc.
    3. Baharumshah, Ahmad Zubaidi & Slesman, Ly & Wohar, Mark E., 2016. "Inflation, inflation uncertainty, and economic growth in emerging and developing countries: Panel data evidence," Economic Systems, Elsevier, vol. 40(4), pages 638-657.
    4. Sulemana Mahawiya, 2015. "Financial sector development and threshold effect of inflation in ECOWAS and SADC: A Panel smooth transition regression approach," Working Papers 539, Economic Research Southern Africa.
    5. Javier Andrés & Ignacio Hernando & J. David López-Salido, 1999. "The Role of the Financial System in the Growth-Inflation Link: the OECD Experience," Working Papers 9920, Banco de España.
    6. Sin-Yu Ho, 2018. "Macroeconomic determinants of stock market development in South Africa," International Journal of Emerging Markets, Emerald Group Publishing Limited, vol. 14(2), pages 322-342, December.
    7. Cavalcanti Ferreira, Pedro, 1999. "Inflationary financing of public investment and economic growth," Journal of Economic Dynamics and Control, Elsevier, vol. 23(4), pages 539-563, February.
    8. Sin-Yu Ho, 2019. "The macroeconomic determinants of stock market development in Malaysia: an empirical analysis," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 21(2), pages 174-193.
    9. A.R. Kemal & Abdul Qayyum & Muhammad Nadim Hanif, 2007. "Financial Development and Economic Growth: Evidence from a Heterogeneous Panel of High Income Countries," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 12(1), pages 1-34, Jan-Jun.
    10. Manoel Bittencourt, 2008. "Inflation and Financial Development: Evidence from Brazil," Working Papers 067, Economic Research Southern Africa.
    11. Choi, Jae Hoon & Munro, David, 2022. "Market liquidity and excess volatility: Theory and experiment," Journal of Economic Dynamics and Control, Elsevier, vol. 139(C).
    12. Chen,Derek Hung Chiat & Ranaweera,Thilakaratna & Storozhuk, Andriy, 2004. "The RMSM-S+P : a minimal poverty module for the RMSM-X," Policy Research Working Paper Series 3304, The World Bank.
    13. Gaetano Antinolfi & David S. Kaplan, 2007. "Inflation and Establishment Turnover," Eastern Economic Journal, Eastern Economic Association, vol. 33(3), pages 317-341, Summer.
    14. Schreft, Stacey L. & Smith, Bruce D., 1997. "Money, Banking, and Capital Formation," Journal of Economic Theory, Elsevier, vol. 73(1), pages 157-182, March.
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    17. Barnes, Michelle & Boyd, John H. & Smith, Bruce D., 1999. "Inflation and asset returns," European Economic Review, Elsevier, vol. 43(4-6), pages 737-754, April.
    18. Pravakar Sahoo & Ashwani Bishnoi, 2021. "Investment Slowdown in India: Role of Fiscal-Monetary policy and Economic Uncertainty," IEG Working Papers 439, Institute of Economic Growth.
    19. Claudio Borio & Marc Farag & Fabrizio Zampolli, 2023. "Tackling the fiscal policy-financial stability nexus," BIS Working Papers 1090, Bank for International Settlements.
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    21. Edgar A. Ghossoub, 2015. "Inflation Thresholds and the Efficiency of the Banking Sector," Working Papers 0159eco, College of Business, University of Texas at San Antonio.
    22. Mr. Amat Adarov & Mr. Robert Tchaidze, 2011. "Development of Financial Markets in Central Europe: the Case of the CE4 Countries," IMF Working Papers 2011/101, International Monetary Fund.
    23. Qayyum, Abdul & Siddiqui, Rehana & Hanif, Muhammad Nadim, 2004. "Financial Development and Economic Growth: Evidence from Heterogeneous Panel Data of Low Income Countries," MPRA Paper 23431, University Library of Munich, Germany.
    24. Zieba, Marta & , Thi-Kieu-Trang & Mbugua, Rahab Njeri, 2022. "Factors affecting economic growth: empirical evidence from developing countries," OSF Preprints jm7h4, Center for Open Science.
    25. Boyd, John H. & Levine, Ross & Smith, Bruce D., 2001. "The impact of inflation on financial sector performance," Journal of Monetary Economics, Elsevier, vol. 47(2), pages 221-248, April.

  31. Joydeep Bhattacharya & Mark G. Guzman & Elisabeth Huybens & Bruce D. Smith, 1995. "Monetary, Fiscal, and Bank Regulatory Policy in a Simple Monetary Growth Model," Working Papers 9501, Centro de Investigacion Economica, ITAM.

    Cited by:

    1. Beatrix Paal & Bruce D. Smith, 2013. "The sub-optimality of the Friedman rule and the optimum quantity of money," Annals of Economics and Finance, Society for AEF, vol. 14(2), pages 911-948, November.
    2. Lukas Altermatt, 2017. "Inside money, investment, and unconventional monetary policy," ECON - Working Papers 247, Department of Economics - University of Zurich, revised Jul 2019.
    3. N Bose & J A Holman & K C Neanidis, 2005. "The Optimal Public Expenditure Financing Policy: Does the Level of Economic Development Matter?," Centre for Growth and Business Cycle Research Discussion Paper Series 57, Economics, The University of Manchester.
    4. Joydeep Bhattacharya & Joseph H. Haslag & Antoine Martin, 2005. "Heterogeneity, Redistribution, And The Friedman Rule," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 46(2), pages 437-454, May.
    5. Richard C. Barnett, 2004. "Coordinating Macroeconomic Policy In A Simple Ak Growth Model," Econometric Society 2004 Latin American Meetings 299, Econometric Society.
    6. Tetsuo Ono, 2020. "Fiscal rules in a monetary economy: Implications for growth and welfare," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 22(1), pages 190-219, February.
    7. Philippe Michel & Bertrand Wigniolle, 2005. "Cash-in-advance constraints, bubbles and monetary policy," Post-Print halshs-00268861, HAL.
    8. Bhattacharya, Joydeep & Haslag, Joseph & Russell, Steven, 2005. "The role of money in two alternative models: When is the Friedman rule optimal, and why?," Journal of Monetary Economics, Elsevier, vol. 52(8), pages 1401-1433, November.
    9. Joseph H. Haslag & Antoine Martin, 2007. "Optimality of the Friedman Rule in an Overlapping Generations Model with Spatial Separation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(7), pages 1741-1758, October.
    10. Jos van Bommel & Augusto Hasman & Margarita Samartin, 2011. "Financial Intermediation in an Overlapping Generations Model with Transaction Costs," LSF Research Working Paper Series 11-8, Luxembourg School of Finance, University of Luxembourg.
    11. Edgar A. Ghossoub & Robert R. Reed, 2013. "The Stock Market, Monetary Policy, and Economic Development," Southern Economic Journal, John Wiley & Sons, vol. 79(3), pages 639-658, January.
    12. Tarishi Matsuoka, 2011. "Temporary Bubbles and Discount Window Policy," KIER Working Papers 802, Kyoto University, Institute of Economic Research.
    13. Andrés F. Arias, 2001. "Banking Productivity and Economic Fluctuations: Colombia 1998-2000," Borradores de Economia 192, Banco de la Republica de Colombia.
    14. Todd Keister, 2009. "Central Bank Lending and Inflation," 2009 Meeting Papers 782, Society for Economic Dynamics.
    15. Hung, Fu-Sheng, 2003. "Inflation, financial development, and economic growth," International Review of Economics & Finance, Elsevier, vol. 12(1), pages 45-67.
    16. TINA M. Edgar A. Ghossoub & TINA M. Robert R. Reedy, 2012. "Financial Development and the Distributional Effects of Monetary Policy Do the distributional consequences of monetary policy depend on the extent of financial development? Should optimal monetary pol," Working Papers 0035, College of Business, University of Texas at San Antonio.
    17. Joseph H. Haslag & Eric Young, 1998. "Revenue-maximizing monetary policy," Working Papers 9801, Federal Reserve Bank of Dallas.
    18. Marco A. Espinosa-Vega & Steven Russell, 1998. "The long-run real effects of monetary policy: Keynesian predictions from a neoclassical model," FRB Atlanta Working Paper 98-6, Federal Reserve Bank of Atlanta.
    19. Joachim Thøgersen, 2019. "A note on social security, human capital and growth," Economics Bulletin, AccessEcon, vol. 39(4), pages 2921-2930.
    20. Edgar A. Ghossoub, 2015. "Inflation Thresholds and the Efficiency of the Banking Sector," Working Papers 0159eco, College of Business, University of Texas at San Antonio.
    21. Andrés Felipe Arias, 2000. "The Colombian Banking and Crisis: Macroeconomic Consequences and What to Expect," Borradores de Economia 157, Banco de la Republica de Colombia.
    22. Arias Andrés, 2002. "Banking Productivity and Economic Fluctuations: Colombia 1998-2000," Revista Desarrollo y Sociedad, Universidad de los Andes,Facultad de Economía, CEDE, March.
    23. Fu-Sheng Hung, 2001. "Fiscal, Monetary, and Reserve Requirement Policy in an Endogenous Growth with Financial Market Imperfections," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 26(1), pages 61-82, June.
    24. Maxim Nikitin & Steven Russell, 2006. "Monetary policy arithmetic: reconciling theory with evidence," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 39(1), pages 348-374, February.
    25. Marco A. Espinosa-Vega & Steven Russell, 2001. "Stability of steady states in a model of pleasant monetarist arithmetic," FRB Atlanta Working Paper 2001-20, Federal Reserve Bank of Atlanta.
    26. Pierre-Richard Agénor, 2016. "Growth and Welfare Effects of Macroprudential Regulation," Centre for Growth and Business Cycle Research Discussion Paper Series 218, Economics, The University of Manchester.
    27. Jianhuai Shi, 2002. "The Economic Effects of Inflation Tax Instruments in an Overlapping-Generations Economy with Production," Annals of Economics and Finance, Society for AEF, vol. 3(2), pages 433-451, November.
    28. Andrés Felipe Arias, 2000. "The Colombian Banking Crisis: Macroeconomic Consequences And What To Expect," Borradores de Economia 3573, Banco de la Republica.
    29. Andrés Felipe Arias, 2001. "Banking Productivity And Economic Fluctuations: Colombia 1998-2000," Borradores de Economia 2050, Banco de la Republica.
    30. Michel, Philippe & Wigniolle, Bertrand, 2003. "Temporary bubbles," Journal of Economic Theory, Elsevier, vol. 112(1), pages 173-183, September.
    31. Caroline Betts & Elisabeth Huybens, 1999. "Financial Market Imperfections, Real Exchange Rates, and Capital Flows," Working Papers 9902, Centro de Investigacion Economica, ITAM.

  32. Valerie R. Bencivenga & Bruce Smith, 1995. "Unemployment, migration, and growth," Working Papers 561, Federal Reserve Bank of Minneapolis.

    Cited by:

    1. Bhattacharya, Joydeep & Chakraborty, Shankha, 2005. "What do Information Frictions do?," ISU General Staff Papers 200510010700001265, Iowa State University, Department of Economics.
    2. Salvatore Capasso & Maria Rosario Carillo & Rita De Siano, 2012. "Migration Flows, Structural Change And Growth Convergence: A Panel Data Analysis Of The Italian Regions," Manchester School, University of Manchester, vol. 80(4), pages 468-498, July.
    3. Temple, Jonathan & Satchi, Mathan, 2006. "Growth and Labour Markets in Developing Countries," CEPR Discussion Papers 5515, C.E.P.R. Discussion Papers.
    4. Noritaka Kudoh, 2007. "Unemployment Policies In An Economy With Adverse Selection," Bulletin of Economic Research, Wiley Blackwell, vol. 59(2), pages 179-196, April.
    5. Rendon, Silvio & Cuecuecha, Alfredo, 2007. "International Job Search: Mexicans In and Out of the US," IZA Discussion Papers 3219, Institute of Labor Economics (IZA).
    6. Vincenzo Lombardo, 2008. "Dual Economy Models: A Primer for…Growth, Income Distribution and Poverty Analysis," Working Papers 12_2008, D.E.S. (Department of Economic Studies), University of Naples "Parthenope", Italy.
    7. S.M. Turab Hussain, 2005. "Rural to Urban Migration and Network Effects in an Extended Family Framework," Microeconomics Working Papers 22257, East Asian Bureau of Economic Research.
    8. Sergio Vergalli, 2008. "The Role of Community in Migration Dynamics," LABOUR, CEIS, vol. 22(3), pages 547-567, September.
    9. Vincenzo Lombardo, 2012. "Modern foundations of dual economy models," Discussion Papers 8_2012, CRISEI, University of Naples "Parthenope", Italy.
    10. Duffy, John & Papageorgiou, Chris, 2000. "A Cross-Country Empirical Investigation of the Aggregate Production Function Specification," Journal of Economic Growth, Springer, vol. 5(1), pages 87-120, March.
    11. Wei-Bin Zhang, 2008. "A Two-Sector Growth Model with Endogenous Human Capital and Amenities," Interdisciplinary Description of Complex Systems - scientific journal, Croatian Interdisciplinary Society Provider Homepage: http://indecs.eu, vol. 6(2), pages 95-116.
    12. Lall, Somik V. & Selod, Harris & Shalizi, Zmarak, 2006. "Rural-urban migration in developing countries : a survey of theoretical predictions and empirical findings," Policy Research Working Paper Series 3915, The World Bank.
    13. Prieur, Fabien & Schumacher, Ingmar, 2016. "The role of conflict for optimal climate and immigration policy," TSE Working Papers 16-663, Toulouse School of Economics (TSE).
    14. Norman V. Loayza, 2016. "Informality in the Process of Development and Growth," Working Papers 76, Peruvian Economic Association.
    15. Wen, Lei & Zhou, Haiwen, 2023. "The Choice of Technology in Economic Development," MPRA Paper 117329, University Library of Munich, Germany.
    16. Mark G. Guzman & Joseph H. Haslag & Pia M. Orrenius, 2002. "Coyote crossings : the role of smugglers in illegal immigration and border enforcement," Research Working Paper RWP 02-04, Federal Reserve Bank of Kansas City.
    17. Bruno Chiarini & Elisabetta Marzano, 2014. "Urbanization and Growth: Why Did the Splendor of the Italian Cities in the Sixteenth Century not Lead to Transition?," CESifo Working Paper Series 5038, CESifo.
    18. Subrata Ghatak & Alan Mulhern & John Watson, 2008. "Inter‐Regional Migration in Transition Economies: The Case of Poland," Review of Development Economics, Wiley Blackwell, vol. 12(1), pages 209-222, February.
    19. Haiwen Zhou & Ruhai Zhou, 2016. "A Dynamic Model of the Choice of Technology in Economic Development," Frontiers of Economics in China-Selected Publications from Chinese Universities, Higher Education Press, vol. 11(3), pages 498-518, September.
    20. Liam Brunt & Cecilia García-Peñalosa, 2021. "Urbanisation and the onset of modern economic growth," Working Papers halshs-03123659, HAL.
    21. Yamauchi, Futoshi, 2003. "Are experience and schooling complementary?," FCND discussion papers 166, International Food Policy Research Institute (IFPRI).
    22. Mathan Satchi & Jonathan Temple, 2009. "Labor Markets and Productivity in Developing Countries," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 12(1), pages 183-204, January.
    23. Jonathan R. W. Temple, 2005. "Growth and Wage Inequality in a Dual Economy," Bulletin of Economic Research, Wiley Blackwell, vol. 57(2), pages 145-169, April.
    24. Yamauchi, Futoshi, 2004. "Are experience and schooling complementary? Evidence from migrants' assimilation in the Bangkok labor market," Journal of Development Economics, Elsevier, vol. 74(2), pages 489-513, August.
    25. Breinlich, Holger & Ottaviano, Gianmarco I P & Temple, Jonathan R, 2013. "Regional Growth and Regional Decline," Economics Discussion Papers 8977, University of Essex, Department of Economics.
    26. Ghatak, Subrata & Mulhern, Alan & Watson, John, 2007. "Inter-regional migration in transition economies: the case of Poland," Economics Discussion Papers 2007-7, School of Economics, Kingston University London.
    27. Xiao, Wei & Zhao, Guochang, 2018. "Agricultural Land and Rural-Urban Migration in China: A New Pattern," RIEI Working Papers 2018-09, Xi'an Jiaotong-Liverpool University, Research Institute for Economic Integration.
    28. Yuki, Kazuhiro, 2007. "Urbanization, informal sector, and development," Journal of Development Economics, Elsevier, vol. 84(1), pages 76-103, September.
    29. Mark Guzman & Joseph Haslag & Pia Orrenius, 2008. "On the determinants of optimal border enforcement," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 34(2), pages 261-296, February.
    30. Steven Garasky, 2000. "Understanding the Employment Experiences and Migration Patterns of Rural Youth and Young Adults," JCPR Working Papers 143, Northwestern University/University of Chicago Joint Center for Poverty Research.
    31. Ivanic, Maros, 2004. "Implications of Household Saving on Poverty," Conference papers 331269, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    32. Jonathan Temple & Ludger Wößmann, 2006. "Dualism and cross-country growth regressions," ifo Working Paper Series 33, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
    33. Luca Marchiori & Ingmar Schumacher, 2009. "When nature rebels: international migration, climate change and inequality," Working Papers hal-00358759, HAL.
    34. Berliant, Marcus & Kung, Fan-chin, 2010. "Can Information Asymmetry Cause Stratification?," MPRA Paper 21395, University Library of Munich, Germany.
    35. W.A. NaudÈ & W.F. Krugell, 2003. "An Inquiry into Cities and their Role in Subnational Economic Growth in South Africa," Journal of African Economies, Centre for the Study of African Economies, vol. 12(4), pages 476-499, December.
    36. Sergio Vergalli, 2006. "Dynamics in Immigration Community," Working Papers ubs0613, University of Brescia, Department of Economics.
    37. Prabir C. Bhattacharya, 1998. "Migration, employment and development: a three-sector analysis," Journal of International Development, John Wiley & Sons, Ltd., vol. 10(7), pages 899-921.
    38. Donald S. Allen & Leonce Ndikumana, 1999. "Income inequality and minimum consumption: implications for growth," Working Papers 1999-013, Federal Reserve Bank of St. Louis.
    39. Haiwen Zhou, 2015. "Unemployment and Economic Integration for Developing Countries," Frontiers of Economics in China-Selected Publications from Chinese Universities, Higher Education Press, vol. 10(4), pages 664-690, December.
    40. Stephen Drinkwater & Paul Levine & Emanuela Lotti & Joseph Pearlman, 2003. "The Economic Impact of Migration: A Survey," School of Economics Discussion Papers 0103, School of Economics, University of Surrey.
    41. Chul-In Lee, 2015. "Agglomeration, search frictions and growth of cities in developing economies," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 55(2), pages 421-451, December.
    42. Faini, Riccardo, 1999. "Trade unions and regional development," European Economic Review, Elsevier, vol. 43(2), pages 457-474, February.
    43. Li, Xun, 2009. "Policy Making, Industrial Structure and Economic Growth in a Dual Economy," MPRA Paper 16990, University Library of Munich, Germany.
    44. Monchuk, Daniel C. & Miranowski, John A., 2002. "The Effect Of Innovative Behavior And Technological Spillovers On Employment Growth In The Us Midwest," 2002 Annual meeting, July 28-31, Long Beach, CA 19773, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    45. Trunin, Pavel (Трунин, Павел), 2015. "Analysis of the Level of Development of the Financial System in the Russian Federation [Анализ Уровня Развития Финансовой Системы В Российской Федерации]," Published Papers mn38, Russian Presidential Academy of National Economy and Public Administration.
    46. Jonathan Temple, 2002. "Wage Inequality in a Dual Economy," Bristol Economics Discussion Papers 02/531, School of Economics, University of Bristol, UK.

  33. Bencivenga, Valerie R. & Smith, Bruce D. & Starr, Ross M., 1995. "Equity markets, transaction costs, and capital accumulation," Policy Research Working Paper Series 1456, The World Bank.

    Cited by:

    1. Geert Bekaert & Campbell R. Harvey & Christian Lundblad, 2004. "Does Financial Liberalization Spur Growth?," Working Paper Research 53, National Bank of Belgium.
    2. Stepan Jurajda & Janet Mitchell, 2001. "Markets and Growth," GE, Growth, Math methods 0111001, University Library of Munich, Germany.
    3. Levine, Ross & Zervos, Sara, 1996. "Stock market development and long-run growth," Policy Research Working Paper Series 1582, The World Bank.
    4. Holzmann, Robert, 1996. "Fiscal issues of shifting from unfunded to funded pension," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 34300, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    5. Agnirup Sarkar, 2020. "Market capitalization and growth with nominal and real rigidities: the case of emerging economies," Indian Economic Review, Springer, vol. 55(2), pages 165-198, December.
    6. Jan Hanousek & Nauro F. Campos & Randall K. Filer, 2001. "Do Stock Markets Promote Economic Growth?," Finance 0012006, University Library of Munich, Germany.
    7. Agnirup Sarkar, 2020. "Understanding the Short Run Relationship Between Stock Market and Growth in Emerging Economies," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 18(2), pages 383-402, June.

  34. Huybens, E. & Smith, B.D., 1994. "Capital Market Frictions, Monetary Policy and Capital Accumulation in a Small Open Economy," Papers 94-27, Cornell - Department of Economics.

    Cited by:

    1. Ma, Chien-Hui & Smith, Bruce D., 1996. "Credit market imperfections and economic development: Theory and evidence," Journal of Development Economics, Elsevier, vol. 48(2), pages 351-387, March.

  35. Stacey L. Schreft & Bruce Smith, 1994. "Money, banking, and capital formation," Working Paper 94-05, Federal Reserve Bank of Richmond.

    Cited by:

    1. Beatrix Paal & Bruce D. Smith, 2013. "The sub-optimality of the Friedman rule and the optimum quantity of money," Annals of Economics and Finance, Society for AEF, vol. 14(2), pages 911-948, November.
    2. Bhattacharya, Joydeep & Singh, Rajesh, 2008. "Optimal choice of monetary policy instruments in an economy with real and liquidity shocks," Journal of Economic Dynamics and Control, Elsevier, vol. 32(4), pages 1273-1311, April.
    3. N Bose & J A Holman & K C Neanidis, 2005. "The Optimal Public Expenditure Financing Policy: Does the Level of Economic Development Matter?," Centre for Growth and Business Cycle Research Discussion Paper Series 57, Economics, The University of Manchester.
    4. Gersbach, Hans & Wenzelburger, Jan, 2005. "Do Risk Premia Protect from Banking Crises?," CEPR Discussion Papers 4935, C.E.P.R. Discussion Papers.
    5. Edgar A. Ghossoub & Robert R. Reed, 2019. "Banking competition, production externalities, and the effects of monetary policy," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 67(1), pages 91-154, February.
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    33. Ghossoub, Edgar A. & Reed, Robert R., 2014. "The cost of capital, asset prices, and the effects of monetary policy," Journal of Macroeconomics, Elsevier, vol. 42(C), pages 211-228.
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    36. Tarishi Matsuoka, 2011. "Temporary Bubbles and Discount Window Policy," KIER Working Papers 802, Kyoto University, Institute of Economic Research.
    37. Kizito Uyi Ehigiamusoe & Mohamad Shaharudin Samsurijan, 2021. "What matters for finance‐growth nexus? A critical survey of macroeconomic stability, institutions, financial and economic development," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 5302-5320, October.
    38. Edgar A. Ghossoub, 2013. "Banking Competition: Implications for Welfare and Monetary Policy," Working Papers 0182eco, College of Business, University of Texas at San Antonio.
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    43. Ghossoub, Edgar A., 2012. "Financial market participation, financial intermediation, and monetary policy," Economics Letters, Elsevier, vol. 117(1), pages 127-130.
    44. Edgar A. Ghossoub & Robert Reed & Thanarak Laosuthi, 2008. "The Role of Financial Sector Competition for Monetary Policy," Working Papers 0069, College of Business, University of Texas at San Antonio.
    45. Hung, Fu-Sheng, 2005. "Optimal composition of government public capital financing," Journal of Macroeconomics, Elsevier, vol. 27(4), pages 704-723, December.
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    49. Edgar Ghossoub, 2010. "Liquidity Risk and Financial Competition: Implications on Asset Prices and Monetary Policy," Working Papers 0003, College of Business, University of Texas at San Antonio.
    50. Ismail, Yusra & Masih, Mansur, 2019. "Is the relationship between inflation and financial development symmetric or asymmetric? new evidence from Sudan based on NARDL," MPRA Paper 94694, University Library of Munich, Germany.
    51. Kunofiwa Tsaurai, 2017. "Foreign Direct Investment-Growth Nexus in Emerging Markets: does Human Capital Development Matter?," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 13(6), pages 174-189, DECEMBER.
    52. TINA M. Edgar A. Ghossoub & TINA M. Robert R. Reedy, 2012. "Financial Development and the Distributional Effects of Monetary Policy Do the distributional consequences of monetary policy depend on the extent of financial development? Should optimal monetary pol," Working Papers 0035, College of Business, University of Texas at San Antonio.
    53. Ghossoub, Edgar A., 2012. "Liquidity risk and financial competition: Implications for asset prices and monetary policy," European Economic Review, Elsevier, vol. 56(2), pages 155-173.
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    55. Edgar A. Ghossoub, 2015. "Endogenous Financial Structure and Monetary Policy," Working Papers 0153eco, College of Business, University of Texas at San Antonio.
    56. Edgar A. Ghossoub & Thanarak Laosuthi & Robert R. Reed, 2012. "The role of financial sector competition for monetary policy," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 45(1), pages 270-287, February.
    57. Kunofiwa Tsaurai, 2017. "Inflation Thresholds-Financial Development Nexus in South-Eastern Asian Emerging Markets," Journal of Economics and Behavioral Studies, AMH International, vol. 9(4), pages 14-24.
    58. Chang, Chia-Ying, 2012. "Banking crises and sudden stops: What could IMF do to assist?," Working Paper Series 18621, Victoria University of Wellington, School of Economics and Finance.
    59. Edgar A. Ghossoub & Thanarak Laosuthi & Robert R. Reed, 2012. "The role of financial sector competition for monetary policy," Canadian Journal of Economics, Canadian Economics Association, vol. 45(1), pages 270-287, February.
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    62. Edgar A. Ghossoub, 2015. "Inflation Thresholds and the Efficiency of the Banking Sector," Working Papers 0159eco, College of Business, University of Texas at San Antonio.
    63. Ghossoub, Edgar A. & Reed, Robert R., 2017. "Financial development, income inequality, and the redistributive effects of monetary policy," Journal of Development Economics, Elsevier, vol. 126(C), pages 167-189.
    64. Eisei Ohtaki, 2023. "Climate change, financial intermediation, and monetary policy," Working Papers e179, Tokyo Center for Economic Research.
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    66. Edgar A. Ghossoub, 2016. "Commercial Banks, Credit Unions, and Monetary Policy," Working Papers 0174eco, College of Business, University of Texas at San Antonio.
    67. Edgar A. Ghossoub & Robert Reed, 2008. "Liquidity Risk, Economic Development, and the Effects of Monetary Policy," Working Papers 0070, College of Business, University of Texas at San Antonio.
    68. Ghossoub, Edgar A., 2023. "Economic growth, inflation, and banking sector competition," Economic Modelling, Elsevier, vol. 129(C).
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    72. Edgar A. Ghossoub, 2015. "Endogenous Financial Structure and Monetary Policy," Working Papers 0162eco, College of Business, University of Texas at San Antonio.
    73. Joseph H. Haslag & Joydeep Bhattacharya & Antoine Martin, 2007. "Money, output and the payment system: Optimal monetary policy in a model with hidden effort," Working Papers 0704, Department of Economics, University of Missouri.
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  36. Cooley, T-F & Smith, B-D, 1993. "Financial Markets, Specialization, and Learning by Doing," Papers 93-01, Rochester, Business - Quantitative Methods Working Paper Series.

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    6. Riccardo Lucchetti & Luca Papi & Alberto Zazzaro, 2000. "Banks' inefficiency and economic growth: a micro-macro approach," Heterogeneity and monetary policy 0004, Universita di Modena e Reggio Emilia, Dipartimento di Economia Politica.
    7. Minier, Jenny, 2009. "Opening a stock exchange," Journal of Development Economics, Elsevier, vol. 90(1), pages 135-143, September.
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    9. Galetovic, Alexander, 1996. "Specialization, intermediation, and growth," Journal of Monetary Economics, Elsevier, vol. 38(3), pages 549-559, December.
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    11. Riccardo LUCCHETTI & Luca PAPI & Alberto ZAZZARO, 1999. "Efficienza del sistema bancario e crescita economica nelle regioni italiane," Working Papers 121, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.

  37. Bencivenga, V. & Smith, B. & Starr, R.M., 1992. "Liquidity of Secondary Capital Markets: Allocative Efficiency and the Maturity of the Capital Stock," RCER Working Papers 326, University of Rochester - Center for Economic Research (RCER).

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    1. Hargis, Kent, 1998. "Do Foreign Investors Stimulate or Inhibit Stock Market Development in Latin America?," The Quarterly Review of Economics and Finance, Elsevier, vol. 38(3, Part 1), pages 303-318.
    2. ABOUDOU Maman Tachiwou, 2009. "Causality tests between stock market development and economic growth in West African Monetary Union," Economia. Seria Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 12(2), pages 14-27, December.

  38. Highfield, R.A. & O,Hara, M. & Smith, B., 1992. "Do Open Market Operations Matter? Theory and Evidence from the Second Bank of the Unites States," RCER Working Papers 325, University of Rochester - Center for Economic Research (RCER).

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    1. Bhattacharya, Joydeep & Haslag, Joseph & Russell, Steven, 2003. "Monetary Policy, Fiscal Policy, and the Inflation Tax: Equivalence Results," Staff General Research Papers Archive 10249, Iowa State University, Department of Economics.
    2. Officer, Lawrence H., 2002. "The U.S. Specie Standard, 1792-1932: Some Monetarist Arithmetic," Explorations in Economic History, Elsevier, vol. 39(2), pages 113-153, April.

  39. Boyd, J.h. & Smith, B.D., 1991. "The Equilibrium Allocation of Investment Capital in the Presence of Adverse Selection and Costly State Verification," RCER Working Papers 289, University of Rochester - Center for Economic Research (RCER).

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    1. Alberto Martin, 2010. "Adverse selection, credit and efficiency: The case of the missing market," Economics Working Papers 1257, Department of Economics and Business, Universitat Pompeu Fabra.
    2. Sokolovskyi, Dmytro, 2018. "The factors inefficient allocation of investment between economies," MPRA Paper 87032, University Library of Munich, Germany.
    3. Gersbach, H. & Uhlig, H.F.H.V.S., 1998. "Debt Contracts, Collapse and Regulation as Competition Phenomena," Discussion Paper 1998-01, Tilburg University, Center for Economic Research.
    4. Montserrat Guillen & Manuel Artis, 1994. "Count Data Models For A Credit Scoring System," Risk and Insurance 9407004, University Library of Munich, Germany.
    5. Anastasios Dosis, 2019. "Interest Rates and Investment Under Competitive Screening and Moral Hazard," Working Papers hal-02130434, HAL.
    6. Gaetano Antinolfi, 2012. "Costly Monitoring, Dynamic Incentives, and Default," 2012 Meeting Papers 892, Society for Economic Dynamics.
    7. Reichlin, Pietro & Siconolfi, Paolo, 2000. "Optimal Debt Contracts and Moral Hazard Along the Business Cycle," CEPR Discussion Papers 2351, C.E.P.R. Discussion Papers.
    8. Sokolovska, Olena & Sokolovskyi, Dmytro, 2012. "Genesis of market failure of adverse-selection-type in problem of effective capital allocation," MPRA Paper 41868, University Library of Munich, Germany.
    9. Vesa Kanniainen & Rune Stenbacka, 1997. "Project Monitoring and Banking Competition under Adverse Selection," CIG Working Papers FS IV 97-23, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG), revised Oct 1998.
    10. Jeffrey M. Lacker, 1994. "Does adverse selection justify government intervention in loan markets?," Economic Quarterly, Federal Reserve Bank of Richmond, issue Win, pages 61-95.
    11. Longhofer, Stanley D., 1997. "Absolute Priority Rule Violations, Credit Rationing, and Efficiency," Journal of Financial Intermediation, Elsevier, vol. 6(3), pages 249-267, July.
    12. Alberto Martin, 2009. "A model of collateral, investment and adverse selection," Economics Working Papers 1136, Department of Economics and Business, Universitat Pompeu Fabra.
    13. Chen, Jeff Zeyun & Lobo, Gerald J. & Wang, Yanyan & Yu, Lisheng, 2013. "Loan collateral and financial reporting conservatism: Chinese evidence," Journal of Banking & Finance, Elsevier, vol. 37(12), pages 4989-5006.
    14. Guillaume Carlier & Ludovic Renou, 2005. "Debt Contracts with ex-ante and ex-post Asymmetric Information: An Example," School of Economics and Public Policy Working Papers 2005-03, University of Adelaide, School of Economics and Public Policy.
    15. Edward J. Green & Soo-Nam Oh, 1991. "Can a \\"credit crunch\\" be efficient?," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 15(Fall), pages 3-17.
    16. Vauhkonen, Jukka, 2003. "Are adverse selection models of debt robust to changes in market structure?," Bank of Finland Research Discussion Papers 28/2003, Bank of Finland.
    17. Fu-Sheng Hung, 2001. "Fiscal, Monetary, and Reserve Requirement Policy in an Endogenous Growth with Financial Market Imperfections," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 26(1), pages 61-82, June.
    18. Bénédicte Coestier & Nathalie Fombaron, 2003. "L'audit en assurance," THEMA Working Papers 2003-41, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    19. Gersbach, Hans & Uhlig, Harald, 2006. "Debt contracts and collapse as competition phenomena," Journal of Financial Intermediation, Elsevier, vol. 15(4), pages 556-574, October.
    20. John H. Boyd & Bruce Smith, 1996. "The use of debt and equity in optimal financial contracts," Working Papers 537, Federal Reserve Bank of Minneapolis.
    21. Ludovic Renou, 2008. "Multi-lender coalitions in costly state verification models," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 36(3), pages 407-433, September.
    22. Stanley D. Longhofer, 1994. "Bankruptcy rules and debt contracting: on the relative efficiency of absolute priority, proportionate priority, and first-come, first-served rules," Working Papers (Old Series) 9415, Federal Reserve Bank of Cleveland.
    23. Stanley D. Longhofer, 1997. "Absolute priority rule violations, credit rationing, and efficiency," Working Papers (Old Series) 9710, Federal Reserve Bank of Cleveland.

  40. Smith, B.D. & Villamil, A.P., 1991. "Government Borrowing using Bonds with Randomly Determined Returns : Welfare Improving Randomization in the Context of Deficit Finance," RCER Working Papers 287, University of Rochester - Center for Economic Research (RCER).

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    1. Mauro F. Guillén & Adrian E. Tschoegl, 2001. "Banking on Gambling: Banks and Lottery-Linked Deposit Accounts," Center for Financial Institutions Working Papers 00-25, Wharton School Center for Financial Institutions, University of Pennsylvania.
    2. Gottardi, Piero, 1995. "Does sunspot monetary policy matter?," Economics Letters, Elsevier, vol. 47(3-4), pages 297-303, March.
    3. Stephanie Bell, 1999. "Functional Finance: What, Why, and How?," Economics Working Paper Archive wp_287, Levy Economics Institute.
    4. Christian RIETSCH, 2020. "La tontine mort-née de 1714," LEO Working Papers / DR LEO 2809, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.
    5. Stacey Schreft & Bruce Smith, 2008. "The social value of risk-free government debt," Annals of Finance, Springer, vol. 4(2), pages 131-155, March.

  41. Cooley, T.F. & Smith, B.D., 1991. "Indivisible Assets, Equilibrium, and the Value of Intermediary Output," Papers 90-05, Rochester, Business - General.

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    1. Zsolt Becsi & Ping Wang & Mark A. Wynne, 1998. "Costly intermediation and the big push," FRB Atlanta Working Paper 98-16, Federal Reserve Bank of Atlanta.
    2. Zsolt Becsi & Ping Wang & Mark A. Wynne, 1998. "Endogenous market structures and financial development," FRB Atlanta Working Paper 98-15, Federal Reserve Bank of Atlanta.

  42. Champ, B. & Snith, B.D. & Williamson, D.S., 1991. "Currency Elasticity and Banking Panics: Theory and Evidence," RCER Working Papers 292, University of Rochester - Center for Economic Research (RCER).

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    1. Beatrix Paal & Bruce D. Smith, 2013. "The sub-optimality of the Friedman rule and the optimum quantity of money," Annals of Economics and Finance, Society for AEF, vol. 14(2), pages 911-948, November.
    2. Robert A. Eisenbeis, 2007. "Home Country Versus Cross-Border Negative Externalities in Large Banking Organization Failures and How to Avoid them," World Scientific Book Chapters, in: Douglas D Evanoff & George G Kaufman & John R LaBrosse (ed.), International Financial Instability Global Banking and National Regulation, chapter 13, pages 181-200, World Scientific Publishing Co. Pte. Ltd..
    3. Bhattacharya, Joydeep & Singh, Rajesh, 2008. "Optimal choice of monetary policy instruments in an economy with real and liquidity shocks," Journal of Economic Dynamics and Control, Elsevier, vol. 32(4), pages 1273-1311, April.
    4. Koen Schoors & Konstantin Sonin, 2005. "Passive Creditors," William Davidson Institute Working Papers Series wp737, William Davidson Institute at the University of Michigan.
    5. Ted Temzelides, 1995. "Evolution, coordination, and banking panics," Working Papers 95-27, Federal Reserve Bank of Philadelphia.
    6. Samartin, Margarita, 2003. "Should bank runs be prevented?," Journal of Banking & Finance, Elsevier, vol. 27(5), pages 977-1000, May.
    7. David Andolfatto & Aleksander Berentsen & Fernando M. Martin, 2017. "Money, banking and financial markets," ECON - Working Papers 259, Department of Economics - University of Zurich.
    8. N Bose & J A Holman & K C Neanidis, 2005. "The Optimal Public Expenditure Financing Policy: Does the Level of Economic Development Matter?," Centre for Growth and Business Cycle Research Discussion Paper Series 57, Economics, The University of Manchester.
    9. Asaf Bernstein & Eric Hughson & Marc D. Weidenmier, 2008. "Can a Lender of Last Resort Stabilize Financial Markets? Lessons from the Founding of the Fed," NBER Working Papers 14422, National Bureau of Economic Research, Inc.
    10. Huberto M. Ennis, 2016. "Models of Discount Window Lending: A Review," Economic Quarterly, Federal Reserve Bank of Richmond, issue 1Q, pages 1-50.
    11. Antoine Martin & Cyril Monnet & Warren E. Weber, 2000. "Costly banknote issuance and interest rates under the national banking system," Working Papers 601, Federal Reserve Bank of Minneapolis.
    12. Boyd, John H & De Nicolo, Gianni & Smith, Bruce D, 2004. "Crises in Competitive versus Monopolistic Banking Systems," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 36(3), pages 487-506, June.
    13. Temzelides, Ted & Williamson, Stephen D., 2001. "Private money, settlement, and discounts," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 54(1), pages 85-108, June.
    14. Saunders, Drew, 2006. "The Elastic Provision of Liquidity by Private Agents," Purdue University Economics Working Papers 1195, Purdue University, Department of Economics.
    15. von Peter, Goetz, 2009. "Asset prices and banking distress: A macroeconomic approach," Journal of Financial Stability, Elsevier, vol. 5(3), pages 298-319, September.
    16. Gaetano Antinolfi & Elisabeth Huybens, 2000. "Monetary Stability and Liquidity Crises: The Role of the Lender of Last Resort," Econometric Society World Congress 2000 Contributed Papers 1156, Econometric Society.
    17. Janet Hua Jiang, 2008. "Banking crises in monetary economies," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 41(1), pages 80-104, February.
    18. Hajime Tomura, 2019. "On Separation between Payment and Saving Instruments," Working Papers 1813, Waseda University, Faculty of Political Science and Economics.
    19. Bhattacharya, Joydeep & Haslag, Joseph & Martin, Antoine, 2007. "Why does overnight liquidity cost more than intraday liquidity?," ISU General Staff Papers 200703200700001144, Iowa State University, Department of Economics.
    20. Saroj Dhital & Pedro Gomis-Porqueras & Joseph H. Haslag, 2020. "Monetary and Fiscal Policy Interactions in a Frictional Model of Money, Nominal Public Debt and Banking," Working Papers 2002, Department of Economics, University of Missouri.
    21. Huberto M. Ennis & Todd Keister, 2004. "Bank runs and investment decisions revisited," Working Paper 04-03, Federal Reserve Bank of Richmond.
    22. Jon R. Moen & Ellis W. Tallman, 2010. "Liquidity creation without a lender of last resort: clearing house loan certificates in the Banking Panic of 1907," Working Papers (Old Series) 1010, Federal Reserve Bank of Cleveland.
    23. Pere Gomis‐Porqueras & Bruce Smith, 2006. "The seasonality of banking failures during the late National Banking Era," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 39(1), pages 296-319, February.
    24. Gaetano Antinolfi & Todd Keister, 2003. "Discount Window Policy, Banking Crises, and Indeterminacy of Equilibrium," Working Papers 0305, Centro de Investigacion Economica, ITAM.
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    119. Felix Eschenbach, 2004. "Finance and Growth: A Survey of the Theoretical and Empirical Literature," Tinbergen Institute Discussion Papers 04-039/2, Tinbergen Institute.
    120. Fan, Xuejun & Jacobs, Jan & Lensink, Robert, 2005. "Chicken or egg: financial development and economic growth in China, 1992-2004," CCSO Working Papers 200509, University of Groningen, CCSO Centre for Economic Research.
    121. Mahmut ERDOGAN & Jülide YILDIRIM & Nadir ÖCAL, 2008. "Financial Development and Economic Growth in Turkey: a Spatial Effect Analysis," EcoMod2008 23800034, EcoMod.
    122. Azariadis, Costas & Smith, Bruce, 1999. "Adverse selection in a neoclassical growth model," The North American Journal of Economics and Finance, Elsevier, vol. 10(2), pages 339-361.
    123. Robert Townsend & Rolf Mueller, 1998. "Mechanism Design and Village Economies: From Credit, to Tenancy, to Cropping Groups," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 1(1), pages 119-172, January.
    124. Pighi Braila & Francesco Magris, 2000. "Money and Credit in a Production Economy," CSEF Working Papers 46, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    125. M. Sami NABI & M. Osman SULIMAN, 2009. "Institutions, Banking Development, And Economic Growth," The Developing Economies, Institute of Developing Economies, vol. 47(4), pages 436-457, December.

  51. John H. Boyd & Edward C. Prescott & Bruce Smith, 1988. "Organizations in economic analysis," Working Papers 385, Federal Reserve Bank of Minneapolis.

    Cited by:

    1. Alessandro Giovannini & Maurizio Iacopetta & Raoul Minetti, 2013. "Financial Markets, Banks, and Growth : Disentangling the links," Post-Print halshs-01948038, HAL.
    2. Cheng Wang & Stephen D. Williamson, 1993. "Adverse Selection in Credit Markets with Costly Screening," Finance 9310001, University Library of Munich, Germany, revised 10 Nov 1993.
    3. Krasa, Stefan, 1999. "Unimprovable Allocations in Economies with Incomplete Information," Journal of Economic Theory, Elsevier, vol. 87(1), pages 144-168, July.
    4. Kilenthong, Weerachart T. & Qin, Cheng-Zhong, 2014. "Trade through endogenous intermediaries," Journal of Mathematical Economics, Elsevier, vol. 50(C), pages 262-268.
    5. Hendrik Hakenes & Isabel Schnabel, 2006. "The Threat of Capital Drain: A Rationale for Public Banks?," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2006_11, Max Planck Institute for Research on Collective Goods.
    6. Demir, Ayse U. & Hall, Stephen G., 2017. "Financial structure and economic development: Evidence on the view of ‘new structuralism’," International Review of Financial Analysis, Elsevier, vol. 52(C), pages 252-259.
    7. Kahn, Charles M. & Mookherjee, Dilip, 1995. "Market failure with moral hazard and side trading," Journal of Public Economics, Elsevier, vol. 58(2), pages 159-184, October.
    8. Asheim, G.B. & Nilssen, T., 1994. "Non-Discriminating Renegotiation in a Competitive Insurance Market," Papers 25, Laval - Laboratoire Econometrie.
    9. Pamela Labadie, 2007. "Anonymity and Individual Risk," 2007 Meeting Papers 637, Society for Economic Dynamics.
    10. Alberto Bisin & Piero Gottardi, 2005. "Efficient Competitive Equilibria with Adverse Selection," CESifo Working Paper Series 1504, CESifo.
    11. Mingming Leng & Mahmut Parlar, 2009. "Allocation of Cost Savings in a Three-Level Supply Chain with Demand Information Sharing: A Cooperative-Game Approach," Operations Research, INFORMS, vol. 57(1), pages 200-213, February.
    12. Lacker, J.M. & Weinberg, J.A., 1990. "A "Coalition Proof" Equilibrium For A Private Information Credit Economy," Purdue University Economics Working Papers 994, Purdue University, Department of Economics.
    13. Pierre Picard, 2009. "Participating insurance contracts and the Rothschild-Stiglitz equilibrium puzzle," Working Papers hal-00413825, HAL.
    14. Zou, L., 1989. "Ownership structure and efficiency : An incentive mechanism approach," Discussion Paper 1989-55, Tilburg University, Center for Economic Research.
    15. Zou, L., 1993. "Ownership structure and efficiency : An incentive mechanism approach," Other publications TiSEM a72a05c2-b3f2-47c7-a003-f, Tilburg University, School of Economics and Management.
    16. Lazarova, E.A. & Borm, P.E.M. & van Velzen, S., 2005. "Contracts and Insurance Group Formation by Myopic Players," Other publications TiSEM aabd51d2-b8ad-4a0d-94e8-0, Tilburg University, School of Economics and Management.
    17. Emiliya Lazarova & Peter Borm & Bas Velzen, 2011. "Coalitional games and contracts based on individual deviations," TOP: An Official Journal of the Spanish Society of Statistics and Operations Research, Springer;Sociedad de Estadística e Investigación Operativa, vol. 19(2), pages 507-520, December.
    18. Ferrall, Christopher & Salvanes, Kjell G. & Sørensen, Erik Ø., 2009. "Wages and Seniority When Coworkers Matter: Estimating a Joint Production Economy Using Norwegian Administrative Data," IZA Discussion Papers 4130, Institute of Labor Economics (IZA).
    19. Zou, Liang, 1992. "Ownership structure and efficiency: An incentive mechanism approach," Journal of Comparative Economics, Elsevier, vol. 16(3), pages 399-431, September.
    20. Zou, L., 1989. "Ownership structure and efficiency : An incentive mechanism approach," Other publications TiSEM 14b0756c-17d9-4b9e-92cd-b, Tilburg University, School of Economics and Management.
    21. Jeffrey M. Lacker & John A. Weinberg, 1995. "The coalition-proof core in adverse selection economies," Working Paper 94-09, Federal Reserve Bank of Richmond.
    22. Daripa, Arup, 2008. "Optimal collective contract without peer information or peer monitoring," Journal of Development Economics, Elsevier, vol. 86(1), pages 147-163, April.

  52. Smith, B.D., 1988. "Interest On Reserves And Sunspot Equilibria: Friedman'S Proposal Reconsidered," RCER Working Papers 119, University of Rochester - Center for Economic Research (RCER).

    Cited by:

    1. Beatrix Paal & Bruce D. Smith, 2013. "The sub-optimality of the Friedman rule and the optimum quantity of money," Annals of Economics and Finance, Society for AEF, vol. 14(2), pages 911-948, November.
    2. Joseph H. Haslag, 1995. "A comparison of alternative monetary environments," Working Papers 9511, Federal Reserve Bank of Dallas.
    3. Liviatan, Nissan & Frish, Roni, 2006. "Interest on reserves and inflation," Journal of Development Economics, Elsevier, vol. 80(1), pages 269-274, June.
    4. Barnett, Richard C. & Bhattacharya, Joydeep, 2006. "Rejuveniles and growth," ISU General Staff Papers 200608050700001159, Iowa State University, Department of Economics.
    5. Xavier Freixas & David Perez-Reyna, 2018. "The Gilded Bubble Buffer," Working papers 3, Red Investigadores de Economía.
    6. Fernandez, Esther, 2005. "Distorting taxes and interest on reserves," Economic Modelling, Elsevier, vol. 22(6), pages 975-1000, December.
    7. Sanjay Banerji & Ngo Van Long, 2000. "Can Financial Intermediation Induce Economic Fluctuations?," CIRANO Working Papers 2000s-51, CIRANO.
    8. Jagjit S. Chadha & Luisa Corrado, 2011. "Macro-prudential Policy on Liquidity: What does a DSGE Model tell us?," Studies in Economics 1108, School of Economics, University of Kent.
    9. Mark G. Guzman, 2006. "The impact of paying interest on reserves in the presence of government deficit financing," Economics Discussion Papers em-dp2006-39, Department of Economics, University of Reading.
    10. Hueth, Brent & Ibarburu, Maro & Kliebenstein, James, 2006. "Business Organization and Coordination in Marketing Specialty Hogs: A Comparative Analysis of Two Firms from Iowa," Staff General Research Papers Archive 11328, Iowa State University, Department of Economics.
    11. Firouz Gahvari, 2009. "Friedman Rule in a Model with Endogenous Growth and Cash-in-advance Constraint," CESifo Working Paper Series 2708, CESifo.
    12. Bhattacharya, Joydeep & Haslag, Joseph & Russell, Steven, 2005. "The role of money in two alternative models: When is the Friedman rule optimal, and why?," Journal of Monetary Economics, Elsevier, vol. 52(8), pages 1401-1433, November.
    13. Marvin Goodfriend, 2002. "Interest on reserves and monetary policy," Economic Policy Review, Federal Reserve Bank of New York, vol. 8(May), pages 77-84.
    14. Smith, Bruce D., 2001. "Introduction to Monetary and Financial Arrangements," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 1-21, July.
    15. Dressler, Scott J. & Kersting, Erasmus K., 2015. "Excess reserves and economic activity," Journal of Economic Dynamics and Control, Elsevier, vol. 52(C), pages 17-31.
    16. Joe Haslag & Joydeep Bhattacharya & Steven Russell, 2003. "Understanding the Roles of Money, or When is the Friedman Rule Optimal, and Why?," Working Papers 0301, Department of Economics, University of Missouri.
    17. Nissan Liviatan & Roni Frish, 2005. "Interest on Reserves and Inflation," Bank of Israel Working Papers 2005.03, Bank of Israel.
    18. David Andolfatto & Andrew Spewak, 2018. "Understanding Lowflation," Working Papers 2018-24, Federal Reserve Bank of St. Louis.
    19. Jia, Pengfei, 2020. "Negative Interest Rates on Central Bank Digital Currency," MPRA Paper 103828, University Library of Munich, Germany.
    20. Bunzel, Helle, 2006. "Habit Persistence, Money, and Overlapping Generations," Staff General Research Papers Archive 12405, Iowa State University, Department of Economics.
    21. Bhattacharya, Joydeep & Russell, Steven, 2002. "Two-Period Cycles in a Three-Period Overlapping Generations Model," Staff General Research Papers Archive 10250, Iowa State University, Department of Economics.
    22. Andreas Hornstein, 2010. "Monetary policy with interest on reserves," Economic Quarterly, Federal Reserve Bank of Richmond, vol. 96(2Q), pages 153-177.
    23. Cutsinger, Bryan P. & Luther, William J., 2022. "Seigniorage payments and the Federal Reserve’s new operating regime," Economics Letters, Elsevier, vol. 220(C).
    24. Stacey L. Schreft & Bruce Smith, 2002. "The conduct of monetary policy with a shrinking stock of government debt," Proceedings, Federal Reserve Bank of Cleveland, pages 848-886.
    25. William Roberds, 1997. "What's really new about the new forms of retail payment?," Economic Review, Federal Reserve Bank of Atlanta, vol. 82(Q 1), pages 32-45.
    26. Azariadis, Costas & Bullard, James & Ohanian, Lee, 2004. "Trend-reverting fluctuations in the life-cycle model," Journal of Economic Theory, Elsevier, vol. 119(2), pages 334-356, December.
    27. Fukuda, Shin-ichi, 1998. "Sunspot equilibria and periodic cycles under idiosyncratic uncertainty," Journal of Economic Behavior & Organization, Elsevier, vol. 36(1), pages 127-138, July.
    28. Marco A. Espinosa-Vega & Steven Russell, 1998. "A public finance analysis of multiple reserve requirements," FRB Atlanta Working Paper 98-1, Federal Reserve Bank of Atlanta.
    29. Huberto Ennis, 2014. "A simple general equilibrium model of large excess reserves," 2014 Meeting Papers 1357, Society for Economic Dynamics.
    30. Eisei Ohtaki, 2016. "Optimality of the Friedman rule under ambiguity," Working Papers e103, Tokyo Center for Economic Research.
    31. Matsuoka, Tarishi, 2022. "Asset prices and standing facilities in a monetary economy," Journal of Economic Dynamics and Control, Elsevier, vol. 135(C).
    32. Temzelides, Ted & Williamson, Stephen D., 2001. "Payments Systems Design in Deterministic and Private Information Environments," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 297-326, July.
    33. Michael Tindall & Roger Spencer, 2000. "Central bank reserve management: Aggregate targets and interest payments on reserves," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 6(2), pages 178-191, May.
    34. Ennis, Huberto M. & Keister, Todd, 2005. "Optimal fiscal policy under multiple equilibria," Journal of Monetary Economics, Elsevier, vol. 52(8), pages 1359-1377, November.
    35. Huberto M. Ennis & Todd Keister, 2003. "Aggregate demand management with multiple equilibria," Working Paper 03-04, Federal Reserve Bank of Richmond.
    36. Williamson, Stephen D., 2003. "Payments systems and monetary policy," Journal of Monetary Economics, Elsevier, vol. 50(2), pages 475-495, March.
    37. Paal, Beatrix, 2001. "Dynamic Consequences of Stabilization Policies Based on a Return to a Gold Standard," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 143-186, July.
    38. Scott Freeman & Joseph H. Haslag, 1995. "Should bank reserves earn interest?," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Q IV, pages 25-33.

  53. Bruce Smith, 1985. "Limited information, money, and competitive equilibrium," Working Papers 204, Federal Reserve Bank of Minneapolis.

    Cited by:

    1. Jafarey, Saqib & Rupert, Peter, 2001. "Limited Commitment, Money, and Credit," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 22-58, July.
    2. Williamson, Steve & Wright, Randall, 1994. "Barter and Monetary Exchange under Private Information," American Economic Review, American Economic Association, vol. 84(1), pages 104-123, March.
    3. Smith, Bruce D., 2001. "Introduction to Monetary and Financial Arrangements," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 1-21, July.
    4. Bruce Smith, 1982. "Money as a medium of transaction in the overlapping generations model," Working Papers 216, Federal Reserve Bank of Minneapolis.
    5. Smith, Bruce D., 1984. "Money, nonconvex preferences, and the existence of equilibrium: A note," Journal of Economic Theory, Elsevier, vol. 32(2), pages 359-366, April.

Articles

  1. John H. Boyd & Pedro Gomis-Porqueras & Sungkyu Kwak & Bruce David Smith, 2014. "A User's Guide to Banking Crises," Annals of Economics and Finance, Society for AEF, vol. 15(2), pages 800-892, November.
    See citations under working paper version above.
  2. Beatrix Paal & Bruce D. Smith, 2013. "The sub-optimality of the Friedman rule and the optimum quantity of money," Annals of Economics and Finance, Society for AEF, vol. 14(2), pages 911-948, November.
    See citations under working paper version above.
  3. Stacey Schreft & Bruce Smith, 2008. "The social value of risk-free government debt," Annals of Finance, Springer, vol. 4(2), pages 131-155, March.
    See citations under working paper version above.
  4. Pere Gomis-Porqueras & Bruce Smith, 2006. "The seasonality of banking failures during the late National Banking Era," Canadian Journal of Economics, Canadian Economics Association, vol. 39(1), pages 296-319, February.

    Cited by:

    1. Tarishi Matsuoka & Makoto Watanabe, 2017. "Banking Panics and Liquidity in a Monetary Economy," Tinbergen Institute Discussion Papers 17-091/VII, Tinbergen Institute.
    2. Matsuoka, Tarishi & Watanabe, Makoto, 2019. "Banking crises and liquidity in a monetary economy," Journal of Economic Dynamics and Control, Elsevier, vol. 108(C).

  5. Khan, Mohsin S. & Senhadji, Abdelhak S. & Smith, Bruce D., 2006. "Inflation And Financial Depth," Macroeconomic Dynamics, Cambridge University Press, vol. 10(2), pages 165-182, April.
    See citations under working paper version above.
  6. John Boyd & Chun Chang & Bruce Smith, 2004. "Deposit insurance and bank regulation in a monetary economy: a general equilibrium exposition," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 24(4), pages 741-767, November.

    Cited by:

    1. Jonathan Carroll & Shino Takayama, 2014. "A hierarchical agency model of deposit insurance," Annals of Finance, Springer, vol. 10(2), pages 267-290, May.
    2. Volker Britz & Hans Gersbach & Hans Haller, 2021. "Deposit insurance and reinsurance," Annals of Finance, Springer, vol. 17(4), pages 425-470, December.
    3. Skeie, David R., 2008. "Banking with nominal deposits and inside money," Journal of Financial Intermediation, Elsevier, vol. 17(4), pages 562-584, October.
    4. Antoine Martin, 2001. "Liquidity provision vs. deposit insurance : preventing bank panics without moral hazard?," Research Working Paper RWP 01-05, Federal Reserve Bank of Kansas City.
    5. Kai Ding & Enoch Hill & David Perez-Reyna, 2021. "Optimal capital requirements with noisy signals on banking risk," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 71(4), pages 1649-1687, June.
    6. Ms. Elena Loukoianova & Mr. Gianni De Nicolo & John H. Boyd, 2009. "Banking Crises and Crisis Dating: Theory and Evidence," IMF Working Papers 2009/141, International Monetary Fund.
    7. cho, hyejin, 2014. "bank capital regulation model," MPRA Paper 54365, University Library of Munich, Germany.
    8. Boyd, John H. & De Nicolò, Gianni & Rodionova, Tatiana, 2019. "Banking crises and crisis dating: Disentangling shocks and policy responses," Journal of Financial Stability, Elsevier, vol. 41(C), pages 45-54.

  7. John H. Boyd & Gianni De Nicolo & Bruce Smith, 2004. "Crises in competitive versus monopolistic banking systems," Proceedings, Federal Reserve Bank of Cleveland, pages 487-509.
    See citations under working paper version above.
  8. Valerie R. Bencivenga & Bruce Smith, 2003. "Monetary policy and financial market evolution," Review, Federal Reserve Bank of St. Louis, vol. 85(Jul), pages 7-26.

    Cited by:

    1. Edgar A. Ghossoub & Robert R. Reed, 2021. "Banking Competition, Capital Accumulation, And Interest On Reserves," Economic Inquiry, Western Economic Association International, vol. 59(2), pages 671-695, April.
    2. Edgar Ghossoub, 2009. "The Institutionalization of Savings: A Role for Monetary Policy," Working Papers 0001, College of Business, University of Texas at San Antonio.
    3. Singh, Nirvikar & Srinivasan, T. N., 2004. "Fiscal Policy in India: Lessons and Priorities," Santa Cruz Center for International Economics, Working Paper Series qt67t3p20w, Center for International Economics, UC Santa Cruz.
    4. Ghossoub, Edgar A., 2012. "Financial market participation, financial intermediation, and monetary policy," Economics Letters, Elsevier, vol. 117(1), pages 127-130.
    5. John H. Boyd & Bruce A. Champ, 2003. "Inflation and financial market performance: what have we learned in the last ten years?," Working Papers (Old Series) 0317, Federal Reserve Bank of Cleveland.
    6. Valerie R. Bencivenga & Gabriele Camera, 2011. "Banking in a Matching Model of Money and Capital," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(s2), pages 449-476, October.

  9. Bullard, James & Smith, Bruce D., 2003. "Intermediaries and payments instruments," Journal of Economic Theory, Elsevier, vol. 109(2), pages 172-197, April.
    See citations under working paper version above.
  10. Bullard, James & Smith, Bruce D., 2003. "The value of inside and outside money," Journal of Monetary Economics, Elsevier, vol. 50(2), pages 389-417, March.
    See citations under working paper version above.
  11. Bruce Smith, 2003. "Taking intermediation seriously," Proceedings, Federal Reserve Bank of Cleveland, pages 1319-1377.

    Cited by:

    1. Albert Marcet & Francesc Obiols-Homs & Philippe Weil, 2003. "Incomplete Markets, Labor Supply and Capital Accumulation," SciencePo Working papers Main hal-03596961, HAL.
    2. Janet Hua Jiang, 2008. "Banking crises in monetary economies," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 41(1), pages 80-104, February.
    3. Joydeep Bhattacharya & Joseph H. Haslag & Antoine Martin, 2005. "Heterogeneity, Redistribution, And The Friedman Rule," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 46(2), pages 437-454, May.
    4. Hendrickson, Joshua R. & Salter, Alexander W., 2018. "Going beyond monetary constitutions: The congruence of money and finance," The Quarterly Review of Economics and Finance, Elsevier, vol. 69(C), pages 22-28.
    5. Donatella Baiardi & Claudio Morana, 2015. "Financial deepening and income distribution inequality in the euro area," CeRP Working Papers 153, Center for Research on Pensions and Welfare Policies, Turin (Italy).
    6. Reed, Robert R. & LaRue, Amanda & Ume, Ejindu S., 2018. "Mortgage recourse provisions and housing prices," Regional Science and Urban Economics, Elsevier, vol. 73(C), pages 99-111.
    7. Satti, Saqlain Latif & Shahbaz, Muhammad & Mujahid, Nooreen & Ali, Amjad, 2013. "Impact of Financial Development and Globalization on Inflation: The Role of Remittance and Economic Growth in Bangladesh," MPRA Paper 51675, University Library of Munich, Germany, revised 21 Nov 2013.
    8. Bhattacharya, Joydeep & Haslag, Joseph H. & Martin, Antoine, 2006. "Sub-optimality of the Friedman rule in Townsend's turnpike and stochastic relocation models of money: Do finite lives and initial dates matter?," Journal of Economic Dynamics and Control, Elsevier, vol. 30(5), pages 879-897, May.
    9. Francesc Obiols-Homs, 2002. "Trade Effects on the Personal Distribution of Wealth," Working Papers 0208, Centro de Investigacion Economica, ITAM.
    10. Joseph H. Haslag & Antoine Martin, 2007. "Optimality of the Friedman Rule in an Overlapping Generations Model with Spatial Separation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(7), pages 1741-1758, October.
    11. Ho Wai-Ming, 2020. "Liquidity constraints, international trade, and optimal monetary policy," The B.E. Journal of Macroeconomics, De Gruyter, vol. 20(2), pages 1-29, June.
    12. David Andolfatto, 2005. "On the Coexistence of Money and Bonds," Macroeconomics 0502020, University Library of Munich, Germany.
    13. Tarishi Matsuoka & Makoto Watanabe, 2017. "Banking Panics and Liquidity in a Monetary Economy," Tinbergen Institute Discussion Papers 17-091/VII, Tinbergen Institute.
    14. Kim, Dong-Hyeon & Lin, Shu-Chin, 2011. "Nonlinearity in the financial developmentâincome inequality nexus," Journal of Comparative Economics, Elsevier, vol. 39(3), pages 310-325, September.
    15. Lukas Altermatt & Christian Wipf, 2020. "Liquidity, the Mundell-Tobin Effect, and the Friedman Rule," Diskussionsschriften dp2013, Universitaet Bern, Departement Volkswirtschaft.
    16. Ghossoub, Edgar A., 2012. "Financial market participation, financial intermediation, and monetary policy," Economics Letters, Elsevier, vol. 117(1), pages 127-130.
    17. Helder Ferreira de Mendonça & Diogo Martins Esteves, 2018. "Monetary authority's transparency and income inequality," Review of Development Economics, Wiley Blackwell, vol. 22(4), pages 202-227, November.
    18. Skeie, David R., 2008. "Banking with nominal deposits and inside money," Journal of Financial Intermediation, Elsevier, vol. 17(4), pages 562-584, October.
    19. Matsuoka, Tarishi & Watanabe, Makoto, 2019. "Banking crises and liquidity in a monetary economy," Journal of Economic Dynamics and Control, Elsevier, vol. 108(C).
    20. John H. Boyd & Bruce A. Champ, 2003. "Inflation and financial market performance: what have we learned in the last ten years?," Working Papers (Old Series) 0317, Federal Reserve Bank of Cleveland.
    21. Ismail, Yusra & Masih, Mansur, 2019. "Is the relationship between inflation and financial development symmetric or asymmetric? new evidence from Sudan based on NARDL," MPRA Paper 94694, University Library of Munich, Germany.
    22. Andolfatto, David & Nosal, Ed, 2009. "Money, intermediation, and banking," Journal of Monetary Economics, Elsevier, vol. 56(3), pages 289-294, April.
    23. Huang, Ho-Chuan & Lin, Shu-Chin & Kim, Dong-Hyeon & Yeh, Chih-Chuan, 2010. "Inflation and the finance-growth nexus," Economic Modelling, Elsevier, vol. 27(1), pages 229-236, January.
    24. Stacey Schreft & Bruce Smith, 2008. "The social value of risk-free government debt," Annals of Finance, Springer, vol. 4(2), pages 131-155, March.
    25. Joseph H. Haslag & Joydeep Bhattacharya & Antoine Martin, 2004. "Sub-Optimality of the Friedman Rule in Townsends Turnpike and Limited Communication Models of money: Do finite lives and initial dates matter?," Working Papers 0415, Department of Economics, University of Missouri, revised 21 Dec 2004.
    26. HAMI Mahyar, 2017. "The Effect Of Inflation On Financial Development Indicators In Iran (2000-2015)," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 12(2), pages 53-62, August.
    27. Reed, Robert R. & Ume, Ejindu S., 2019. "Housing, liquidity risk, and monetary policy," Journal of Macroeconomics, Elsevier, vol. 60(C), pages 138-162.

  12. Gomis-Porqueras, Pere & Smith, Bruce D., 2003. "Seasonality And Monetary Policy," Macroeconomic Dynamics, Cambridge University Press, vol. 7(4), pages 477-502, September.

    Cited by:

    1. Bhattacharya, Joydeep & Singh, Rajesh, 2008. "Optimal choice of monetary policy instruments in an economy with real and liquidity shocks," Journal of Economic Dynamics and Control, Elsevier, vol. 32(4), pages 1273-1311, April.
    2. Pere Gomis‐Porqueras & Bruce Smith, 2006. "The seasonality of banking failures during the late National Banking Era," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 39(1), pages 296-319, February.
    3. Tarishi Matsuoka, 2011. "Monetary Policy and Banking Structure," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(6), pages 1109-1129, September.
    4. Fischer, Andreas M., 2014. "Immigration And Large Banknotes," Macroeconomic Dynamics, Cambridge University Press, vol. 18(4), pages 899-919, June.
    5. Bruce D. Smith & Beatrix Paal & Ke Wang, 2005. "Monopoly versus Competition in Banking: Some Implications for Growth and Welfare," 2005 Meeting Papers 435, Society for Economic Dynamics.
    6. Carlos Gustavo Machicado, 2007. "Growth and Banking Structure in a Partially Dollarized Economy," Development Research Working Paper Series 02/2007, Institute for Advanced Development Studies.
    7. Tarishi Matsuoka & Makoto Watanabe, 2017. "Banking Panics and Liquidity in a Monetary Economy," Tinbergen Institute Discussion Papers 17-091/VII, Tinbergen Institute.
    8. Bhattacharya, Joydeep & Singh, Rajesh, 2010. "Optimal monetary rules under persistent shocks," Journal of Economic Dynamics and Control, Elsevier, vol. 34(7), pages 1277-1294, July.
    9. Matsuoka, Tarishi & Watanabe, Makoto, 2019. "Banking crises and liquidity in a monetary economy," Journal of Economic Dynamics and Control, Elsevier, vol. 108(C).
    10. Stephen Williamson, 2004. "Search, Limited Participation, and Monetary Policy," 2004 Meeting Papers 214, Society for Economic Dynamics.
    11. Scott Freeman, 2002. "Payments and Output," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(3), pages 602-617, July.

  13. Stacey L. Schreft & Bruce Smith, 2002. "The conduct of monetary policy with a shrinking stock of government debt," Proceedings, Federal Reserve Bank of Cleveland, pages 848-886.
    See citations under working paper version above.
  14. Espinosa-Vega, Marco A. & Smith, Bruce D. & Yip, Chong K., 2002. "Monetary Policy and Government Credit Programs," Journal of Financial Intermediation, Elsevier, vol. 11(3), pages 232-268, July.

    Cited by:

    1. Sushanta K. Mallick, 2012. "Disentangling the poverty effects of sectoral output, prices and policies in India," Development Papers 1202, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) South and South-West Asia Office.

  15. Bruce D. Smith, 2002. "Monetary Policy, Banking Crises, and the Friedman Rule," American Economic Review, American Economic Association, vol. 92(2), pages 128-134, May.

    Cited by:

    1. Bhattacharya, Joydeep & Singh, Rajesh, 2008. "Optimal choice of monetary policy instruments in an economy with real and liquidity shocks," Journal of Economic Dynamics and Control, Elsevier, vol. 32(4), pages 1273-1311, April.
    2. Melchisedek Joslem Ngambou Djatche & Olivier Bruno, 2021. "Monetary and prudential policy coordination: impact on bank’s risk-taking," Post-Print halshs-03419149, HAL.
    3. Melchisedek Joslem Ngambou Djatche, 2021. "Monetary policy, prudential policy and bank's risk-taking: a literature review," Post-Print halshs-03419263, HAL.
    4. Gaetano Antinolfi & Costas Azariadis & James B. Bullard, 2008. "The optimal inflation target in an economy with limited enforcement," Speech 166, Federal Reserve Bank of St. Louis.
    5. David Andolfatto & Aleksander Berentsen & Fernando M. Martin, 2017. "Money, banking and financial markets," ECON - Working Papers 259, Department of Economics - University of Zurich.
    6. Gabriel Jiménez & Steven Ongena & José Luis Peydró & Jesús Saurina, 2009. "Hazardous times for monetary policy: What do twenty-three million bank loans say about the effects of monetary policy on credit risk-taking?," Working Papers 0833, Banco de España.
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    Cited by:

    1. Hernandez-Verme, Paula & Wang, Wen-Yao, 2009. "Multiple Reserve Requirements, Exchange Rates, Sudden Stops and Equilibrium Dynamics in a Small Open Economy," MPRA Paper 16748, University Library of Munich, Germany, revised 11 Aug 2009.
    2. Paula Hernandez-Verme & Wen-Yao Wang, 2009. "Multiple reserve requirements, exchange rates, sudden stops and equilibrium dynamics in a small open economy," EconoQuantum, Revista de Economia y Finanzas, Universidad de Guadalajara, Centro Universitario de Ciencias Economico Administrativas, Departamento de Metodos Cuantitativos y Maestria en Economia., vol. 6(1), pages 71-79, Julio - D.
    3. Paula Hernandez-Verme, 2009. "Small Open Economies with Frictions in Credit Markets: Target inflation or money growth when floating?," Department of Economics and Finance Working Papers EC200903, Universidad de Guanajuato, Department of Economics and Finance.
    4. Azariadis, Costas & Bullard, James & Ohanian, Lee, 2004. "Trend-reverting fluctuations in the life-cycle model," Journal of Economic Theory, Elsevier, vol. 119(2), pages 334-356, December.

  18. Smith, Bruce D., 2001. "Banks, short-term debt and financial crises: theory, policy implications, and applications A comment," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 54(1), pages 73-83, June.

    Cited by:

    1. Cole, Rebel A. & Moshirian, Fariborz & Wu, Qiongbing, 2008. "Bank stock returns and economic growth," Journal of Banking & Finance, Elsevier, vol. 32(6), pages 995-1007, June.

  19. Boyd, John H. & Levine, Ross & Smith, Bruce D., 2001. "The impact of inflation on financial sector performance," Journal of Monetary Economics, Elsevier, vol. 47(2), pages 221-248, April.

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    1. Roman Horváth, 2009. "The Determinants of the Interest Rate Margins of Czech Banks," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 59(2), pages 128-136, June.
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    4. Ho, Sin-Yu & Njindan Iyke, Bernard, 2018. "Short- and Long-term Impact of Trade Openness on Financial Development in Sub-Saharan Africa," MPRA Paper 84272, University Library of Munich, Germany.
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    7. Simplice A. Asongu & Joseph Nnanna & Vanessa S. Tchamyou, 2019. "The Comparative African Regional Economics of Globalization in Financial Allocation Efficiency: Pre-Crisis Era Revisited," Working Papers of the African Governance and Development Institute. 19/085, African Governance and Development Institute..
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    43. Helena Ahulu & John MacCarthy & Paul Muda, 2021. "Financial Stability and Economic Growth Nexus: Evidence from Sub-Saharan Africa using Panel Data," International Journal of Economics and Financial Issues, Econjournals, vol. 11(4), pages 11-18.
    44. Mu-Shun Wang, 2013. "An Investigation of the Feldstein–Horioka Puzzle for the Association of Southeast Asian Nations Economies," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 46(4), pages 424-443, December.
    45. Beck, Thorsten & Demirguc-Kunt, Asli & Levine, Ross, 2006. "Bank supervision and corruption in lending," Journal of Monetary Economics, Elsevier, vol. 53(8), pages 2131-2163, November.
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    47. Frank Iyekoretin Ogbeide & Hilary Kanwanye & Sunday Kadiri, 2016. "Revisiting the Determinants of Unemployment in Nigeria: Do Resource Dependence and Financial Development Matter?," African Development Review, African Development Bank, vol. 28(4), pages 430-443, December.
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    355. Sethi, Pradeepta & Bhattacharjee, Sankalpa & Chakrabarti, Debkumar & Tiwari, Chhavi, 2021. "The impact of globalization and financial development on India’s income inequality," Journal of Policy Modeling, Elsevier, vol. 43(3), pages 639-656.
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    357. Candauda Arachchige Saliya, 2022. "Stock market development and nexus of market liquidity: The case of Fiji," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(4), pages 4364-4382, October.
    358. Joshua Aizenman & Yothin Jinjarak & Donghyun Park, 2015. "Financial Development and Output Growth in Developing Asia and Latin America: A Comparative Sectoral Analysis," NBER Working Papers 20917, National Bureau of Economic Research, Inc.
    359. Valdes, Rodrigo, 2017. "What drives the regional integration of agribusiness stocks? Evidence in worldwide perspective," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 258265, Agricultural and Applied Economics Association.
    360. Alarudeen Aminu Ph.D & Isiaka Akande Raifu & Bolanle Deborah Oloyede, . "Financial Development and Manufacturing Output Growth Nexus in Nigeria: The Role Of Institutional Quality," Journal of Economic and Sustainable Growth 2, Office Of The Chief Economist, Development Bank of Nigeria.
    361. Kurronen, Sanna, 2015. "Financial sector in resource-dependent economies," Emerging Markets Review, Elsevier, vol. 23(C), pages 208-229.
    362. Moises S. Andrade & Tiago Berriel, 2016. "Is There an Output Free Lunch for Fiscal Inationary Policies?," Textos para discussão 650, Department of Economics PUC-Rio (Brazil).
    363. Ahmed, Abdullahi D. & Mmolainyane, Kelesego K., 2014. "Financial integration, capital market development and economic performance: Empirical evidence from Botswana," Economic Modelling, Elsevier, vol. 42(C), pages 1-14.
    364. Ullrich, Katrin, 2003. "Unabhängigkeit und Verantwortlichkeit der Europäischen Zentralbank," ZEW Discussion Papers 03-65, ZEW - Leibniz Centre for European Economic Research.
    365. Morell, Joe & Shaw, Frances & Lyons, Paul & McCann, Fergal, 2022. "Rising interest rates and higher inflation: implications for the banking sector," Financial Stability Notes 15/FS/22, Central Bank of Ireland.
    366. Ben Naceur, Samy & Ghazouani, Samir & Omran, Mohammed, 2008. "Does stock market liberalization spur financial and economic development in the MENA region?," Journal of Comparative Economics, Elsevier, vol. 36(4), pages 673-693, December.
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    368. Erişah ARICAN & Abdurrahman ÇETİN, 2018. "A Comparative Analysis of Market Efficiency of Participation and Deposit Banks in Turkey," Istanbul Journal of Economics-Istanbul Iktisat Dergisi, Istanbul University, Faculty of Economics, vol. 68(1), pages 45-92, June.
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    370. S. Claeys & R. Vander Vennet, 2003. "Determinants of bank interest margins in Central and Eastern Europe. Convergence to the West?," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 03/203, Ghent University, Faculty of Economics and Business Administration.
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    373. Billmeier, Andreas & Massa, Isabella, 2009. "What drives stock market development in emerging markets--institutions, remittances, or natural resources?," Emerging Markets Review, Elsevier, vol. 10(1), pages 23-35, March.
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    377. Bianchi, Benedetta, 2018. "Structural credit ratios," ESRB Working Paper Series 85, European Systemic Risk Board.
    378. Hayo, Bernd & Hefeker, Carsten, 2002. "Reconsidering central bank independence," European Journal of Political Economy, Elsevier, vol. 18(4), pages 653-674, November.

  20. Azariadis, Costas & Bullard, James & Smith, Bruce D., 2001. "Private and Public Circulating Liabilities," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 59-116, July.
    See citations under working paper version above.
  21. Smith, Bruce D., 2001. "Introduction to Monetary and Financial Arrangements," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 1-21, July.

    Cited by:

    1. Claudio Vitari, 2014. "Electronic currencies for purposive degrowth?," Working paper serie RMT - Grenoble Ecole de Management hal-00975432, HAL.
    2. Claudio Vitari, 2014. "Can virtual currencies drive sustainable de-growth?," Grenoble Ecole de Management (Post-Print) halshs-01924234, HAL.
    3. Claudio Vitari, 2014. "Can virtual currencies drive sustainable de-growth?," Post-Print halshs-01924234, HAL.
    4. Claudio Vitari, 2016. "Electronic Currencies: a literature review [Monnaies électroniques : a revue de la littérature]," Grenoble Ecole de Management (Post-Print) halshs-01924191, HAL.
    5. Claudio Vitari, 2014. "Electronic currencies for purposive degrowth?," Working Papers hal-00975432, HAL.
    6. Claudio Vitari, 2016. "Electronic Currencies: a literature review [Monnaies électroniques : a revue de la littérature]," Post-Print halshs-01924191, HAL.

  22. Valerie R. Bencivenga & Elisabeth Huybens & Bruce Smith, 2001. "Dollarization and the integration of international capital markets; a contribution to the theory of optimal currency areas," Proceedings, Federal Reserve Bank of Cleveland, pages 548-596.

    Cited by:

    1. Russell W. Cooper & Hubert Kempf, 2000. "Designing stabilization policy in a monetary union," Working Papers (Old Series) 0001, Federal Reserve Bank of Cleveland.
    2. Gaetano Antinolfi & Todd Keister, 2001. "Dollarization as a monetary arrangement for emerging market economies," Review, Federal Reserve Bank of St. Louis, vol. 83(Nov.), pages 29-40.
    3. Alexandre Minda, 2005. "La dollarisation intégrale : une option monétaire de dernier ressort pour l'Amérique latine ?," Mondes en développement, De Boeck Université, vol. 130(2), pages 15-39.

  23. Bencivenga, Valerie R & Smith, Bruce D & Starr, Ross M, 2000. "Secondary Capital Markets, Long-Run Growth, and the Term Structure of Asset Yields," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 41(3), pages 769-800, August.

    Cited by:

    1. Uras, R.B., 2014. "Financial Development, Long-Term Finance and the Macroeconomy : The Role of Secondary Markets," Discussion Paper 2014-044, Tilburg University, Center for Economic Research.
    2. Uras, Burak R., 2020. "Finance and development: Rethinking the role of financial transparency," Journal of Banking & Finance, Elsevier, vol. 111(C).
    3. Uras, Burak R., 2019. "Unbundling Financial Imperfections: Lending Frictions Vs. Trading Frictions," Macroeconomic Dynamics, Cambridge University Press, vol. 23(4), pages 1401-1441, June.

  24. Arthur J. Rolnick & Bruce Smith & Warren E. Weber, 2000. "The Suffolk Bank and the Panic of 1837," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 24(Spr), pages 3-13.

    Cited by:

    1. Gentier Antoine, 2013. "3 Comments on “An Austrian Defense of the Euro”," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 19(1), pages 29-40, December.
    2. Tore Nilssen, 2011. "Risk externalities in a payments oligopoly," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 10(3), pages 211-234, December.
    3. Laurent Le Maux, 2004. "L'émergence d'une banque supérieure sous le régime de la liberté bancaire," Recherches économiques de Louvain, De Boeck Université, vol. 70(2), pages 193-221.

  25. Christopher Sleet & Bruce Smith, 2000. "Deposit insurance and lender-of-last-resort functions," Proceedings, Federal Reserve Bank of Cleveland, pages 518-579.

    Cited by:

    1. Narayana Kocherlakota & Ilhyock Shim, 2005. "Forbearance and Prompt Corrective Action," 2005 Meeting Papers 324, Society for Economic Dynamics.
    2. Nechita Radu, 2003. "Demand Deposits Insurance and Double Liability : The effect On Incentives," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 13(1), pages 1-44, March.
    3. Ralf Bebenroth & Diemo Dietrich & Uwe Vollmer, 2007. "Bank regulation and supervision in Japan and Germany: A comparison," Discussion Paper Series 211, Research Institute for Economics & Business Administration, Kobe University.
    4. S. CLAEYS & G. LANINE & K. SCHOORs, 2005. "Bank Supervision Russian Style: Rules vs Enforcement and Tacit Objectives," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 05/307, Ghent University, Faculty of Economics and Business Administration.
    5. Kahn, Charles M. & Santos, Joao A.C., 2005. "Allocating bank regulatory powers: Lender of last resort, deposit insurance and supervision," European Economic Review, Elsevier, vol. 49(8), pages 2107-2136, November.
    6. Spiegel, Mark M., 2005. "Solvency runs, sunspot runs, and international bailouts," Journal of International Economics, Elsevier, vol. 65(1), pages 203-219, January.
    7. Laurent Le Maux, 2021. "Bagehot for Central Bankers," Working Papers Series inetwp147, Institute for New Economic Thinking.
    8. Vincent Bignon & Marc Flandreau & Stefano Ugolini, 2012. "Bagehot for beginners: the making of lender‐of‐last‐resort operations in the mid‐nineteenth century," Economic History Review, Economic History Society, vol. 65(2), pages 580-608, May.
    9. Vincent Bignon & Marc Flandreau & Stefano Ugolini, 2012. "Bagehot for beginners: The Making of Lending of Last Resort Operations in the Mid-19th Century," Post-Print hal-01410545, HAL.
    10. Antoine Martin, 2005. "Reconciling Bagehot with the Fed's response to September 11," Staff Reports 217, Federal Reserve Bank of New York.
    11. Ilhyock Shim, 2011. "Dynamic Prudential Regulation: Is Prompt Corrective Action Optimal?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 43(8), pages 1625-1661, December.
    12. Robert P. Gray, 2004. "Australia's Implicit Deposit Insurance — Should It Be Reconsidered?," Australian Accounting Review, CPA Australia, vol. 14(32), pages 41-52, March.
    13. Gianni De Nicolo, 2000. "Size, charter value and risk in banking: an international perspective," International Finance Discussion Papers 689, Board of Governors of the Federal Reserve System (U.S.).
    14. Brierley, Peter, 2024. "Principles and techniques to resolve large banks whose failure could have systemic consequences," Bank of England working papers 1056, Bank of England.
    15. Claeys, Sophie & Schoors, Koen, 2007. "Bank supervision Russian style: Evidence of conflicts between micro- and macro-prudential concerns," Journal of Comparative Economics, Elsevier, vol. 35(3), pages 630-657, September.
    16. Claeys, Sophie & Lanine, Gleb & Schoors, Koen, 2005. "Bank supervision Russian style: rules versus enforcement and tacit objectives," BOFIT Discussion Papers 10/2005, Bank of Finland Institute for Emerging Economies (BOFIT).
    17. Antoine Martin, 2002. "Reconciling Bagehot with the Fed's response to Sept. 11," Research Working Paper RWP 02-10, Federal Reserve Bank of Kansas City.
    18. Antoine Martin, 2001. "Liquidity provision vs. deposit insurance : preventing bank panics without moral hazard?," Research Working Paper RWP 01-05, Federal Reserve Bank of Kansas City.
    19. Klüh, Ulrich, 2005. "Safety Net Design and Systemic Risk: New Empirical Evidence," Discussion Papers in Economics 662, University of Munich, Department of Economics.
    20. Marie-Laure Djelic & Joel Bothello, 2013. "Limited liability and its moral hazard implications: the systemic inscription of instability in contemporary capitalism," Post-Print hal-01891963, HAL.
    21. Marie-Laure Djelic & Joel Bothello, 2013. "Limited liability and its moral hazard implications: the systemic inscription of instability in contemporary capitalism," Sciences Po publications info:hdl:2441/153e5es3a89, Sciences Po.
    22. Gurbachan Singh & Girijesh Kumar Tiwari, 2007. "Bank Runs, Lender of Last Resort, Suspension of Convertibility, and Enabling Laws," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 6(1), pages 123-144, January.
    23. David VanHoose, 2007. "Market Discipline and Supervisory Discretion in Banking: Reinforcing or Conflicting Pillars of Basel II?," NFI Working Papers 2007-WP-06, Indiana State University, Scott College of Business, Networks Financial Institute.
    24. Marco A Espinosa-Vega & Mr. Rafael Matta & Mr. Charles M. Kahn & Mr. Juan Sole, 2011. "Systemic Risk and Optimal Regulatory Architecture," IMF Working Papers 2011/193, International Monetary Fund.

  26. Schreft, Stacey L. & Smith, Bruce D., 2000. "The evolution of cash transactions: Some implications for monetary policy," Journal of Monetary Economics, Elsevier, vol. 46(1), pages 97-120, August.
    See citations under working paper version above.
  27. Boyd, John H. & Smith, Bruce D., 1999. "The Use of Debt and Equity in Optimal Financial Contracts," Journal of Financial Intermediation, Elsevier, vol. 8(4), pages 270-316, October.
    See citations under working paper version above.
  28. Huybens, Elisabeth & Smith, Bruce D., 1999. "Inflation, financial markets and long-run real activity," Journal of Monetary Economics, Elsevier, vol. 43(2), pages 283-315, April.
    See citations under working paper version above.
  29. Bruce Smith & Warren E. Weber, 1999. "Private money creation and the Suffolk Banking System," Proceedings, Federal Reserve Bank of Cleveland, pages 624-667.
    See citations under working paper version above.
  30. Barnes, Michelle & Boyd, John H. & Smith, Bruce D., 1999. "Inflation and asset returns," European Economic Review, Elsevier, vol. 43(4-6), pages 737-754, April.

    Cited by:

    1. Hammouda, Amira & Saeed, Asif & Vidal, Marta & Vidal-García, Javier, 2023. "On the short-term persistence of mutual fund performance in Europe," Research in International Business and Finance, Elsevier, vol. 65(C).
    2. Khan, Mohsin S. & Senhadji, Abdelhak S. & Smith, Bruce D., 2006. "Inflation And Financial Depth," Macroeconomic Dynamics, Cambridge University Press, vol. 10(2), pages 165-182, April.
    3. Anyiwe, Mercy Ada & Sunday Osahon Igbinedion, 2015. "Stock Returns, Inflation and the “Reverse Causality†Hypothesis: Evidence from Nigeria," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 4(1), pages 32-50, January.
    4. Ciżkowicz, Piotr & Rzońca, Andrzej, 2010. "Inflation and corporate investment in selected OECD countries in the years 1960-2005 – an empirical analysis," MPRA Paper 29846, University Library of Munich, Germany.
    5. Salisu, Afees A. & Raheem, Ibrahim D. & Ndako, Umar B., 2020. "The inflation hedging properties of gold, stocks and real estate: A comparative analysis," Resources Policy, Elsevier, vol. 66(C).
    6. Georgios Bampinas & Theodore Panagiotidis, 2016. "Hedging Inflation with Individual US stocks: A long-run portfolio analysis," Working Paper series 16-11, Rimini Centre for Economic Analysis.
    7. Paul Alagidede & Theodore Panagiotidis, 2010. "Can common stocks provide a hedge against inflation? Evidence from African countries," Review of Financial Economics, John Wiley & Sons, vol. 19(3), pages 91-100, August.
    8. Sin-Yu Ho, 2018. "Macroeconomic determinants of stock market development in South Africa," International Journal of Emerging Markets, Emerald Group Publishing Limited, vol. 14(2), pages 322-342, December.
    9. Spierdijk, Laura & Umar, Zaghum, 2015. "Stocks, bonds, T-bills and inflation hedging: From great moderation to great recession," Journal of Economics and Business, Elsevier, vol. 79(C), pages 1-37.
    10. Santos ALIMI, 2014. "Inflation and Financial Sector Performance: the Case of Nigeria," Timisoara Journal of Economics and Business, West University of Timisoara, Romania, Faculty of Economics and Business Administration, vol. 7(1), pages 55-69.
    11. Ho, Sin-Yu & Odhiambo, Nicholas, 2017. "Analysing the macroeconomic drivers of stock Market development in the Philippines," Working Papers 23439, University of South Africa, Department of Economics.
    12. James R. Lothian & Cornelia H. McCarthy, 2003. "Equity Returns and Inflation: The Puzzlingly Long Lags," International Finance 0311007, University Library of Munich, Germany.
    13. Smith, L. Vanessa & Yamagata, Takashi, 2011. "Firm level return–volatility analysis using dynamic panels," Journal of Empirical Finance, Elsevier, vol. 18(5), pages 847-867.
    14. Francis In & Sangbae Kim, 2012. "An Introduction to Wavelet Theory in Finance:A Wavelet Multiscale Approach," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 8431.
    15. Olesen, Jan Overgaard, 2000. "Stocks Hedge Against Inflation In The Long Run: Evidence From A Coin- Tegration Analysis For Denmark," Working Papers 06-2000, Copenhagen Business School, Department of Economics.
    16. Muhammad Shahbaz & Faridul Islam & Ijaz Ur Rehman, 2016. "Stocks as Hedge against Inflation in Pakistan: Evidence from ARDL Approach," Global Business Review, International Management Institute, vol. 17(6), pages 1280-1295, December.
    17. Barnes, Michelle L., 1999. "Inflation and returns revisited: a TAR approach," Journal of Multinational Financial Management, Elsevier, vol. 9(3-4), pages 233-245, November.
    18. Kim, Sangbae & In, Francis, 2006. "A note on the relationship between industry returns and inflation through a multiscaling approach," Finance Research Letters, Elsevier, vol. 3(1), pages 73-78, March.
    19. John H. Boyd & Pedro Gomis & Sungkyu Kwak & Bruce D. Smith, 2000. "A User's Guide to Banking Crises," Monash Economics Working Papers archive-36, Monash University, Department of Economics.
    20. Nassar S. Al-Nassar & Razzaque H. Bhatti, 2019. "Are common stocks a hedge against inflation in emerging markets?," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 43(3), pages 421-455, July.
    21. Mansoorian, Arman & Mohsin, Mohammed, 2013. "Real asset returns, inflation and activity in a small, open, Cash-in-Advance economy," Journal of International Money and Finance, Elsevier, vol. 32(C), pages 234-250.
    22. Heimonen, Kari, 2010. "Money and equity returns in the Euro area," Global Finance Journal, Elsevier, vol. 21(2), pages 152-169.
    23. Kim, Jae H. & Ryoo, Heajin H., 2011. "Common stocks as a hedge against inflation: Evidence from century-long US data," Economics Letters, Elsevier, vol. 113(2), pages 168-171.
    24. Madsen, Jakob B., 2002. "The share market boom and the recent disinflation in the OECD countries: the tax-effects, the inflation-illusion and the risk-aversion hypotheses reconsidered1," The Quarterly Review of Economics and Finance, Elsevier, vol. 42(1), pages 115-141.
    25. Xiaojing Song & Thu Phuong Truong & Mark Tippett & John van der Burg, 2022. "The quantity theory of stock prices," The European Journal of Finance, Taylor & Francis Journals, vol. 28(17), pages 1685-1707, November.
    26. Paula Hernandez-Verme, 2004. "Inflation, growth and exchange rate regimes in small open economies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 24(4), pages 839-856, November.
    27. Du, Ding, 2006. "Monetary policy, stock returns and inflation," Journal of Economics and Business, Elsevier, vol. 58(1), pages 36-54.
    28. Saira Tufail & Sadia Batool, 2013. "An Analysis of the Relationship between Inflation and Gold Prices: Evidence from Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 18(2), pages 1-35, July-Dec.
    29. Rushdi, Mustabshira & Kim, Jae H. & Silvapulle, Param, 2012. "ARDL bounds tests and robust inference for the long run relationship between real stock returns and inflation in Australia," Economic Modelling, Elsevier, vol. 29(3), pages 535-543.
    30. Engsted, Tom & Tanggaard, Carsten, 2002. "The relation between asset returns and inflation at short and long horizons," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 12(2), pages 101-118, April.
    31. Andros Gregoriou & Alexandros Kontonikas, "undated". "The Long Run Relationship Between Stock Prices And Goods Prices: New Evidence From Panel Cointegration," Working Papers 2008_19, Business School - Economics, University of Glasgow.
    32. Gerald Stuber, 2001. "Implications of Uncertainty about Long-Run Inflation and the Price Level," Staff Working Papers 01-16, Bank of Canada.
    33. John H. Boyd & Bruce A. Champ, 2003. "Inflation and financial market performance: what have we learned in the last ten years?," Working Papers (Old Series) 0317, Federal Reserve Bank of Cleveland.
    34. Kim, Sangbae & In, Francis, 2005. "The relationship between stock returns and inflation: new evidence from wavelet analysis," Journal of Empirical Finance, Elsevier, vol. 12(3), pages 435-444, June.
    35. Nielsen, Steen & Risager, Ole, 2001. "Stock Returns And Bond Yields In Denmark, 1922-99," Working Papers 03-2001, Copenhagen Business School, Department of Economics.
    36. Paula Hernandez-Verme, 2009. "Inflation, Growth and Exchange Rate Regimes in Small Open Economies," Department of Economics and Finance Working Papers EC200906, Universidad de Guanajuato, Department of Economics and Finance.
    37. Salisu, Afees A. & Ndako, Umar B. & Akanni, Lateef O., 2020. "New evidence for the inflation hedging potential of US stock returns," Finance Research Letters, Elsevier, vol. 37(C).
    38. Sin-Yu Ho & Bernard Njindan Iyke, 2017. "Determinants of stock market development: a review of the literature," Studies in Economics and Finance, Emerald Group Publishing Limited, vol. 34(1), pages 143-164, March.
    39. Jakob Madsen, 2007. "Pitfalls in estimates of the relationship between stock returns and inflation," Empirical Economics, Springer, vol. 33(1), pages 1-21, July.
    40. L. Vanessa Smith & Takashi Yamagata, 2008. "Firm Level Volatility-Return Analysis using Dynamic Panels," Discussion Papers 08/09, Department of Economics, University of York.
    41. Maik Schmeling & Andreas Schrimpf, 2008. "Expected Inflation, Expected Stock Returns, and Money Illusion: What can we learn from Survey Expectations?," SFB 649 Discussion Papers SFB649DP2008-036, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
    42. Ho, Sin-Yu & Odhiambo, Nicholas, 2017. "The macroeconomic drivers of stock market development: Evidence from Hong Kong," Working Papers 23438, University of South Africa, Department of Economics.
    43. Cemal Berk O˛uzsoy & Sibel Guven, 2003. "Stock returns and the day-of-the-week effect in i-super-˙stanbul Stock Exchange," Applied Economics, Taylor & Francis Journals, vol. 35(8), pages 959-971.
    44. NEIFAR, MALIKA & HACHICHA, Fatma, 2022. "GFH validity for Canada, UK, and Suisse stock markets: Evidence ‎from univariate and panel ARDL models," MPRA Paper 114613, University Library of Munich, Germany.
    45. Ho, Sin-Yu, 2017. "The Macroeconomic Determinants of Stock Market Development: Evidence from South Africa," MPRA Paper 76493, University Library of Munich, Germany.
    46. Niyati Bhanja & Arif Billah Dar, 2019. "Stock returns and inflation: a tale of two periods in India," Economic Change and Restructuring, Springer, vol. 52(4), pages 413-438, November.
    47. Li, Lifang & Narayan, Paresh Kumar & Zheng, Xinwei, 2010. "An analysis of inflation and stock returns for the UK," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 20(5), pages 519-532, December.
    48. Chang, Kuang-Liang, 2017. "Does REIT index hedge inflation risk? New evidence from the tail quantile dependences of the Markov-switching GRG copula," The North American Journal of Economics and Finance, Elsevier, vol. 39(C), pages 56-67.
    49. Adrian Austin & Swarna Dutt, 2016. "Do stock returns hedge inflation at long horizons?," Applied Economics Letters, Taylor & Francis Journals, vol. 23(13), pages 936-939, September.
    50. Ben Naceur Samy & Ghazouani Samir, 2005. "Does Inflation Impact on Financial Sector Performance in the MENA Region?," Review of Middle East Economics and Finance, De Gruyter, vol. 3(3), pages 48-58, December.
    51. Madsen, Jakob B., 2005. "The Fisher hypothesis and the interaction between share returns, inflation and supply shocks," Journal of International Money and Finance, Elsevier, vol. 24(1), pages 103-120, February.
    52. Patrick Honohan, 2003. "Taxation of Financial Intermediation : Theory and Practice for Emerging Economines," World Bank Publications - Books, The World Bank Group, number 15122, December.
    53. Boyd, John H. & Levine, Ross & Smith, Bruce D., 2001. "The impact of inflation on financial sector performance," Journal of Monetary Economics, Elsevier, vol. 47(2), pages 221-248, April.

  31. Azariadis, Costas & Smith, Bruce, 1999. "Adverse selection in a neoclassical growth model," The North American Journal of Economics and Finance, Elsevier, vol. 10(2), pages 339-361.

    Cited by:

    1. Wai‐Hong Ho & Yong Wang, 2005. "Public capital, asymmetric information, and economic growth," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 38(1), pages 57-80, February.
    2. Wai-Hong Ho & Yong Wang, 2005. "Public capital, asymmetric information, and economic growth," Canadian Journal of Economics, Canadian Economics Association, vol. 38(1), pages 57-80, February.
    3. Plehn-Dujowich, Jose M., 2009. "Endogenous growth and adverse selection in entrepreneurship," Journal of Economic Dynamics and Control, Elsevier, vol. 33(7), pages 1419-1436, July.

  32. Bruce D. Smith & John H. Boyd, 1998. "Capital market imperfections in a monetary growth model," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 11(2), pages 241-273.

    Cited by:

    1. Beatrix Paal & Bruce D. Smith, 2013. "The sub-optimality of the Friedman rule and the optimum quantity of money," Annals of Economics and Finance, Society for AEF, vol. 14(2), pages 911-948, November.
    2. Koskela, Erkki & Ollikainen, Markku & Puhakka, Mikko, 2002. "Saddles, Indeterminacy and Bifurcations in an Overlapping Generations Economy with a Renewable Resource," Discussion Papers 789, The Research Institute of the Finnish Economy.
    3. Smith, R. Todd & van Egteren, Henry, 2005. "Inflation, investment and economic performance: The role of internal financing," European Economic Review, Elsevier, vol. 49(5), pages 1283-1303, July.
    4. Takuma Kunieda & Tarishi Matsuoka & Akihisa Shibata, 2017. "Asset Bubbles, Technology Choice, and Financial Crises," Discussion Paper Series 157, School of Economics, Kwansei Gakuin University, revised Feb 2017.
    5. Pere Gomis-Porqueras & Àlex Haro, 2005. "Global Bifurcations, Credit Rationing and Recurrent Hyperinflations," Working Papers 239, Barcelona School of Economics.
    6. Leo Kaas, 2014. "Public Debt and Total Factor Productivity," Working Paper Series of the Department of Economics, University of Konstanz 2014-22, Department of Economics, University of Konstanz.
    7. Sulemana Mahawiya, 2015. "Financial sector development and threshold effect of inflation in ECOWAS and SADC: A Panel smooth transition regression approach," Working Papers 539, Economic Research Southern Africa.
    8. Khan, Mohsin S. & Senhadji, Abdelhak S. & Smith, Bruce D., 2006. "Inflation And Financial Depth," Macroeconomic Dynamics, Cambridge University Press, vol. 10(2), pages 165-182, April.
    9. von Thadden, Leopold, 2012. "Monetary policy rules in an OLG model with non-superneutral money," Journal of Macroeconomics, Elsevier, vol. 34(1), pages 147-166.
    10. Dong-Hyeon Kim & Yi-Chen Wu & Shu-Chin Lin, 2022. "Carbon dioxide emissions, financial development and political institutions," Economic Change and Restructuring, Springer, vol. 55(2), pages 837-874, May.
    11. Kyriakos C. Neanidis, 2005. "Aid, Budgetary Policies, and the Macroeconomy: Growth, Inflation, and Welfare," Economics Discussion Paper Series 0535, Economics, The University of Manchester.
    12. Sin-Yu Ho, 2018. "Macroeconomic determinants of stock market development in South Africa," International Journal of Emerging Markets, Emerald Group Publishing Limited, vol. 14(2), pages 322-342, December.
    13. Philippe Michel & Bertrand Wigniolle, 2005. "Cash-in-advance constraints, bubbles and monetary policy," Post-Print halshs-00268861, HAL.
    14. Lu Chia-Hui & Chen Been-Lon & Hsu Mei, 2011. "The Dynamic Relationship between Inflation and Output Growth in a Cash-Constrained Economy," The B.E. Journal of Macroeconomics, De Gruyter, vol. 11(1), pages 1-29, May.
    15. Ho, Sin-Yu & Odhiambo, Nicholas, 2017. "Analysing the macroeconomic drivers of stock Market development in the Philippines," Working Papers 23439, University of South Africa, Department of Economics.
    16. Huybens, Elisabeth & Smith, Bruce D., 1999. "Inflation, financial markets and long-run real activity," Journal of Monetary Economics, Elsevier, vol. 43(2), pages 283-315, April.
    17. Lucas, Deborah, 1999. "Price and interest rate dynamics induced by multiperiod contracts," The North American Journal of Economics and Finance, Elsevier, vol. 10(2), pages 315-338.
    18. Sin-Yu Ho, 2019. "The macroeconomic determinants of stock market development in Malaysia: an empirical analysis," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 21(2), pages 174-193.
    19. Smith, Bruce D., 2001. "Introduction to Monetary and Financial Arrangements," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 1-21, July.
    20. Le, Thi Ngoc Lan & Nasir, Muhammad Ali & Huynh, Toan Luu Duc, 2023. "Capital requirements and banks performance under Basel-III: A comparative analysis of Australian and British banks," The Quarterly Review of Economics and Finance, Elsevier, vol. 87(C), pages 146-157.
    21. Manoel Bittencourt, 2008. "Inflation and Financial Development: Evidence from Brazil," Working Papers 067, Economic Research Southern Africa.
    22. Barnes, Michelle L., 1999. "Inflation and returns revisited: a TAR approach," Journal of Multinational Financial Management, Elsevier, vol. 9(3-4), pages 233-245, November.
    23. John H. Boyd & Pedro Gomis & Sungkyu Kwak & Bruce D. Smith, 2000. "A User's Guide to Banking Crises," Monash Economics Working Papers archive-36, Monash University, Department of Economics.
    24. McCloud, Nadine, 2022. "Does domestic investment respond to inflation targeting? A synthetic control investigation," International Economics, Elsevier, vol. 169(C), pages 98-134.
    25. De la Torre, Augusto & Schmukler, Sergio, 2007. "Emerging Capital Markets and Globalization: The Latin American Experience," IDB Publications (Books), Inter-American Development Bank, number 349, May.
    26. Emmanuel Nii Abbey, 2013. "Inflation and Financial Development: Evidence," American Journal of Economics and Business Administration, Science Publications, vol. 4(4), pages 227-236, July.
    27. Espinosa-Vega, Marco A. & Smith, Bruce D. & Yip, Chong K., 2002. "Monetary Policy and Government Credit Programs," Journal of Financial Intermediation, Elsevier, vol. 11(3), pages 232-268, July.
    28. Yakubu Awudu Sare & Eric Evans Osei Opoku & Muazu Ibrahim & Isaac Koomson, 2019. "Financial sector development convergence in Africa: Evidence from bank- and market-based measures," Economics and Business Letters, Oviedo University Press, vol. 8(4), pages 166-175.
    29. Paula Hernandez-Verme, 2004. "Inflation, growth and exchange rate regimes in small open economies," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 24(4), pages 839-856, November.
    30. Elosegui, Pedro Luis, 2003. "Aggregate risk, credit rationing and capital accumulation," The Quarterly Review of Economics and Finance, Elsevier, vol. 43(4), pages 668-696.
    31. Ehigiamusoe, Kizito Uyi & Vinitha Guptan & Narayanan, Suresh, 2019. "The effects of income and inflation on financial development: Evidence from heterogeneous panels," Economics Discussion Papers 2019-11, Kiel Institute for the World Economy (IfW Kiel).
    32. Jonathan A. Batten & Peter G. Szilagyi, 2006. "Developing Foreign Bond Markets: The Arirang Bond Experience in Korea," The Institute for International Integration Studies Discussion Paper Series iiisdp138, IIIS.
    33. Bougheas, Spiros, 2007. "Imperfect capital markets, income distribution and the choice of external finance: A financial equilibrium approach," The Quarterly Review of Economics and Finance, Elsevier, vol. 47(4), pages 507-520, September.
    34. Nasir, Iqbal & Saima, Nawaz, 2010. "Investment, inflation and economic growth nexus," MPRA Paper 27163, University Library of Munich, Germany.
    35. Marco A. Espinosa-Vega & Bruce Smith & Chong K. Yip, 1999. "Barriers to international capital flows: who should erect them and how big should they be?," FRB Atlanta Working Paper 99-6, Federal Reserve Bank of Atlanta.
    36. Assenza, Tiziana & Agliari, Anna & Delli Gatti, Domenico & Santoro, Emiliano, 2009. "Borrowing constraints and complex dynamics in an OLG framework," Journal of Economic Behavior & Organization, Elsevier, vol. 72(2), pages 656-669, November.
    37. John H. Boyd & Bruce A. Champ, 2003. "Inflation and financial market performance: what have we learned in the last ten years?," Working Papers (Old Series) 0317, Federal Reserve Bank of Cleveland.
    38. Azariadis, Costas & Bullard, James & Ohanian, Lee, 2004. "Trend-reverting fluctuations in the life-cycle model," Journal of Economic Theory, Elsevier, vol. 119(2), pages 334-356, December.
    39. K C Neanidis, 2005. "Aid, Budgetary Policies, and the Macroeconomy: Growth, Inflation, and Welfare," Centre for Growth and Business Cycle Research Discussion Paper Series 58, Economics, The University of Manchester.
    40. Kim, Dong-Hyeon & Wu, Yi-Chen & Lin, Shu-Chin, 2020. "Carbon dioxide emissions and the finance curse," Energy Economics, Elsevier, vol. 88(C).
    41. Leeper, Eric M. & Nason, James M., 2015. "Bringing Financial Stability into Monetary Policy," Working Paper Series 305, Sveriges Riksbank (Central Bank of Sweden).
    42. Paula Hernandez-Verme, 2009. "Inflation, Growth and Exchange Rate Regimes in Small Open Economies," Department of Economics and Finance Working Papers EC200906, Universidad de Guanajuato, Department of Economics and Finance.
    43. Gokan, Yoichi, 2011. "Poverty traps, the money growth rule, and the stage of financial development," Journal of Economic Dynamics and Control, Elsevier, vol. 35(8), pages 1273-1287, August.
    44. Sin-Yu Ho & Bernard Njindan Iyke, 2017. "Determinants of stock market development: a review of the literature," Studies in Economics and Finance, Emerald Group Publishing Limited, vol. 34(1), pages 143-164, March.
    45. Barnes, Michelle & Boyd, John H. & Smith, Bruce D., 1999. "Inflation and asset returns," European Economic Review, Elsevier, vol. 43(4-6), pages 737-754, April.
    46. Ho, Sin-Yu, 2017. "The Macroeconomic Determinants of Stock Market Development: Evidence from Malaysia," MPRA Paper 77232, University Library of Munich, Germany.
    47. Ho, Sin-Yu & Odhiambo, Nicholas, 2017. "The macroeconomic drivers of stock market development: Evidence from Hong Kong," Working Papers 23438, University of South Africa, Department of Economics.
    48. Shouyong Shi & Mariana Rojas Breu & Aleksander Berentsen, 2009. "Liquidity and Growth," 2009 Meeting Papers 590, Society for Economic Dynamics.
    49. John Duffy & Maxim Nikitin, 2004. "Dollarization Traps," Econometric Society 2004 North American Summer Meetings 456, Econometric Society.
    50. Kunieda, Takuma, 2014. "A note on the crowd-in effect of asset bubbles in the perpetual youth model," Mathematical Social Sciences, Elsevier, vol. 72(C), pages 50-54.
    51. Antinolfi, Gaetano & Keister, Todd & Shell, Karl, 2001. "Growth Dynamics and Returns to Scale: Bifurcation Analysis," Journal of Economic Theory, Elsevier, vol. 96(1-2), pages 70-96, January.
    52. Ho, Sin-Yu, 2017. "The Macroeconomic Determinants of Stock Market Development: Evidence from South Africa," MPRA Paper 76493, University Library of Munich, Germany.
    53. Marco A. Espinosa-Vega & Bruce Smith, 2001. "Socially excessive bankruptcy costs and the benefits of interest rate ceilings on loans," FRB Atlanta Working Paper 2001-27, Federal Reserve Bank of Atlanta.
    54. John H. Boyd & Bruce Smith, 1996. "The use of debt and equity in optimal financial contracts," Working Papers 537, Federal Reserve Bank of Minneapolis.
    55. Alex Haro & Pere Gomis-Poruqeras, 2004. "Computing Center Manifolds: A Macroeconomic Example," Computing in Economics and Finance 2004 38, Society for Computational Economics.
    56. Dotsey, Michael & Sarte, Pierre Daniel, 2000. "Inflation uncertainty and growth in a cash-in-advance economy," Journal of Monetary Economics, Elsevier, vol. 45(3), pages 631-655, June.
    57. Boyd, John H. & Levine, Ross & Smith, Bruce D., 2001. "The impact of inflation on financial sector performance," Journal of Monetary Economics, Elsevier, vol. 47(2), pages 221-248, April.
    58. Azariadis, Costas & Smith, Bruce, 1999. "Adverse selection in a neoclassical growth model," The North American Journal of Economics and Finance, Elsevier, vol. 10(2), pages 339-361.
    59. Michel, Philippe & Wigniolle, Bertrand, 2003. "Temporary bubbles," Journal of Economic Theory, Elsevier, vol. 112(1), pages 173-183, September.

  33. Smith, Bruce D. & Villamil, Anne P., 1998. "Government borrowing using bonds with randomly determined returns: Welfare improving randomization in the context of deficit finance," Journal of Monetary Economics, Elsevier, vol. 41(2), pages 351-370, April.
    See citations under working paper version above.
  34. Bruce Smith, 1998. "James Madison's monetary economics," Economic Review, Federal Reserve Bank of Cleveland, vol. 34(Q I), pages 7-20.

    Cited by:

    1. Paal, Beatrix, 2001. "Dynamic Consequences of Stabilization Policies Based on a Return to a Gold Standard," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 143-186, July.

  35. Stacey L. Schreft & Bruce D. Smith, 1998. "The Effects of Open Market Operations in a Model of Intermediation and Growth," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 65(3), pages 519-550.
    See citations under working paper version above.
  36. John H. Boyd & Chun Chang & Bruce Smith, 1998. "Moral hazard under commercial and universal banking," Proceedings, Federal Reserve Bank of Cleveland, issue Aug, pages 426-471.
    See citations under working paper version above.
  37. Huybens, Elisabeth & Smith, Bruce D., 1998. "Financial Market Frictions, Monetary Policy, and Capital Accumulation in a Small Open Economy," Journal of Economic Theory, Elsevier, vol. 81(2), pages 353-400, August.
    See citations under working paper version above.
  38. Bruce D. Smith & John H. Boyd, 1998. "The evolution of debt and equity markets in economic development," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 12(3), pages 519-560.
    See citations under working paper version above.
  39. Bruce Smith & J. Bhattacharya & Mark Guzman, 1998. "Some Even More Unpleasant Monetarist Arithmetic," Canadian Journal of Economics, Canadian Economics Association, vol. 31(3), pages 596-623, August.
    See citations under working paper version above.
  40. Bencivenga, Valerie R. & Smith, Bruce D., 1998. "Economic development and financial depth in a model with costly financial intermediation," Research in Economics, Elsevier, vol. 52(4), pages 363-386, December.

    Cited by:

    1. Edgar Ghossoub, 2009. "The Institutionalization of Savings: A Role for Monetary Policy," Working Papers 0001, College of Business, University of Texas at San Antonio.
    2. Hung, Fu-Sheng, 2005. "Credit rationing and capital accumulation with investment and consumption loans revisited," Journal of Development Economics, Elsevier, vol. 78(2), pages 322-347, December.
    3. Le, Thai-Ha & Tran-Nam, Binh, 2018. "Trade liberalization, financial modernization and economic development: An empirical study of selected Asia–Pacific countries," Research in Economics, Elsevier, vol. 72(2), pages 343-355.
    4. Jude C. Eggoh & Patrick Villieu, 2013. "Un réexamen de la non-linéarité entre le développement financier et la croissance économique," Revue d'économie politique, Dalloz, vol. 123(2), pages 211-236.
    5. Chi-Chun Yang & Ya-Kai Chang, 2020. "Asymmetric Impact of Financial Intermediary Development in Low- and High-Income Countries," Sustainability, MDPI, vol. 12(15), pages 1-12, July.
    6. Lu, Shu-Shiuan, 2013. "The role of capital market efficiency in long-term growth: A quantitative exploration," Journal of Macroeconomics, Elsevier, vol. 36(C), pages 161-174.
    7. Valentine Soumtang Bime & Dieudonné Mignamissi & Agathe Cassandra Koumis Ngagni, 2024. "Does financial openness matter for economic transformation in sub-Saharan Africa?," Economic Change and Restructuring, Springer, vol. 57(2), pages 1-49, April.
    8. Carton, Christine & Ronquillo, Cely, 2008. "Determinantes del crecimiento en America Latina: Analisis empirico de los sistemas bancarios [Economic growth determinants in Latin American region: An empirical analysis based on bank systems role," MPRA Paper 10832, University Library of Munich, Germany.
    9. Schertler, Andrea, 2002. "Path dependencies in venture capital markets," Kiel Working Papers 1120, Kiel Institute for the World Economy (IfW Kiel).

  41. Cooley, Thomas F. & Smith, Bruce D., 1998. "Financial markets, specialization, and learning by doing," Research in Economics, Elsevier, vol. 52(4), pages 333-361, December.
    See citations under working paper version above.
  42. Azariadis, Costas & Smith, Bruce, 1998. "Financial Intermediation and Regime Switching in Business Cycles," American Economic Review, American Economic Association, vol. 88(3), pages 516-536, June.

    Cited by:

    1. Yuanyuan Li & Bertrand Wigniolle, 2016. "Endogenous information revelation in a competitive credit market and credit crunch," Post-Print halshs-01277539, HAL.
    2. Soedarmono, Wahyoe & Augier, Laurent, 2009. "Threshold Effect and Financial Intermediation in Economic Development," MPRA Paper 14905, University Library of Munich, Germany.
    3. Spiros Bougheas & Pasquale Commendatore & Laura Gardini & Ingrid Kubin, 2022. "Financial development cycles and income inequality in a model with good and bad projects," Discussion Papers 2022/05, University of Nottingham, Centre for Finance, Credit and Macroeconomics (CFCM).
    4. Michal Rubaszek & Dobromil Serwa, 2011. "Determinants of credit to households in a life-cycle model," NBP Working Papers 92, Narodowy Bank Polski.
    5. Frédéric Boissay & Fabrice Collard & Jordi Galí & Cristina Manea, 2022. "Monetary Policy and Endogenous Financial Crises," Working Papers hal-03509283, HAL.
    6. Jarkko Jääskelä, 2007. "More Potent Monetary Policy? Insights from a Threshold Model," RBA Research Discussion Papers rdp2007-07, Reserve Bank of Australia.
    7. Laurent Augier & Wahyoe Soedarmono, 2011. "Threshold Effect and Financial Intermediation in Economic Development," Post-Print hal-00785204, HAL.
    8. Sylvia Frühwirth‐Schnatter & Sylvia Kaufmann, 2006. "How do changes in monetary policy affect bank lending? An analysis of Austrian bank data," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 21(3), pages 275-305, April.
    9. Seewon Kim, 2018. "Effects of Monetary Policy during Financial Market Crises and Regime Changes: An Empirical Evaluation Using a Nonlinear Vector Autoregression Model," Asian Economic Journal, East Asian Economic Association, vol. 32(2), pages 105-123, June.
    10. Kazuo Nishimura & Florian Pelgrin & Alain Venditti, 2023. "Medium term endogenous fluctuations in three-sector optimal growth models," AMSE Working Papers 2235, Aix-Marseille School of Economics, France.
    11. Laopodis, Nikiforos T., 2013. "Monetary policy and stock market dynamics across monetary regimes," Journal of International Money and Finance, Elsevier, vol. 33(C), pages 381-406.
    12. L Kaas & P Madden, 2002. "Imperfectly Competitive Cycles with Keynesian and Walrasian Features," Economics Discussion Paper Series 0211, Economics, The University of Manchester.
    13. Bacchetta, Philippe & Aghion, Philippe & Banerjee, Abhijit, 2004. "Financial Development and the Instability of Open Economies," Scholarly Articles 4554209, Harvard University Department of Economics.
    14. Florian Pelgrin & Alain Venditti, 2020. "On the long-run fluctuations of inheritance in two-sector OLG models," Working Papers halshs-03080407, HAL.
    15. Ken-ichi Hashimoto & Ryonghun Im & Takuma Kunieda & Akihisa Shibata, 2021. "Financial Destabilization," KIER Working Papers 1054, Kyoto University, Institute of Economic Research.
    16. Kiminori Matsuyama, 2007. "Aggregate Implications of Credit Market Imperfections," NBER Working Papers 13209, National Bureau of Economic Research, Inc.
    17. Bazán, Walter, 2011. "No-linealidades y asimetrías en el crédito peruano," Working Papers 2011-015, Banco Central de Reserva del Perú.
    18. Stefan Avdjiev & Zheng Zeng, 2014. "Credit growth, monetary policy and economic activity in a three-regime TVAR model," Applied Economics, Taylor & Francis Journals, vol. 46(24), pages 2936-2951, August.
    19. Kenneth Kasa, 1998. "Borrowing constraints and asset market dynamics: evidence from the Pacific Basin," Pacific Basin Working Paper Series 98-04, Federal Reserve Bank of San Francisco.
    20. Marcin Owczarczuk, 2009. "Maximum Score Type Estimators," Working Papers 30, Department of Applied Econometrics, Warsaw School of Economics.
    21. Piero Ferri, 2011. "Macroeconomics of Growth Cycles and Financial Instability," Books, Edward Elgar Publishing, number 14260.
    22. David Aadland, 2002. "Detrending Time-Aggregated Data," Working Papers 2002-05, Utah State University, Department of Economics.
    23. Urban, Jörg, 2020. "Credit cycles revisited," Working Paper Series in Economics 146, Karlsruhe Institute of Technology (KIT), Department of Economics and Management.
    24. Stefano Puddu, 2013. "Real Sector and Banking System: Real and Feedback Effects. A Non-Linear VAR Approach," IRENE Working Papers 13-01, IRENE Institute of Economic Research.
    25. Jones, John B, 2003. "The Dynamic Effects of Firm-Level Borrowing Constraints," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 35(5), pages 743-762, October.
    26. ,, 2013. "The good, the bad, and the ugly: An inquiry into the causes and nature of credit cycles," Theoretical Economics, Econometric Society, vol. 8(3), September.
    27. Portier, Franck & Galizia, Dana & Beaudry, Paul, 2016. "Putting the Cycle Back into Business Cycle Analysis," CEPR Discussion Papers 11647, C.E.P.R. Discussion Papers.
    28. Matthias Neuenkirch & Matthias Nöckel, 2017. "The Risk-Taking Channel of Monetary Policy Transmission in the Euro Area," Research Papers in Economics 2017-02, University of Trier, Department of Economics.
    29. Cristiana Mammana & Elisabetta Michetti, 2003. "Chaos in credit–constrained emerging economies with Leontief technology," Working Papers 17-2003, Macerata University, Department of Finance and Economic Sciences, revised Oct 2008.
    30. Figueroa, Nicolás & Leukhina, Oksana, 2015. "Lending terms and aggregate productivity," Journal of Economic Dynamics and Control, Elsevier, vol. 59(C), pages 1-21.
    31. Kiminori Matsuyama & Iryna Sushko & Laura Gardini, 2015. "Revisiting the model of credit cycles with good and bad projects," Gecomplexity Discussion Paper Series 8, Action IS1104 "The EU in the new complex geography of economic systems: models, tools and policy evaluation", revised Feb 2015.
    32. Maria Teresa VALDERRAMA & Sylvia KAUFMANN, 2010. "Modeling Credit Aggregates," EcoMod2004 330600146, EcoMod.
    33. Caballe, Jordi & Jarque, Xavier & Michetti, Elisabetta, 2006. "Chaotic dynamics in credit constrained emerging economies," Journal of Economic Dynamics and Control, Elsevier, vol. 30(8), pages 1261-1275, August.
    34. Oliver Asiamah & Samuel Kwaku Agyei, 2023. "Information sharing offices and economic growth in sub‐Saharan Africa," African Development Review, African Development Bank, vol. 35(2), pages 211-225, June.
    35. Farboodi, Maryam & Kondor, Peter, 2021. "Cleansing by tight credit: rational cycles and endogenous lending standards," LSE Research Online Documents on Economics 118900, London School of Economics and Political Science, LSE Library.
    36. Russell W. Cooper & Dean Corbae, 2001. "Financial collapse and active monetary policy: a lesson from the Great Depression," Staff Report 289, Federal Reserve Bank of Minneapolis.
    37. Mundra, Sruti & Bicchal, Motilal, 2023. "Asymmetric effects of monetary policy and financial accelerator: Evidence from India," The Journal of Economic Asymmetries, Elsevier, vol. 27(C).
    38. Paul Beaudry & Dana Galizia & Franck Portier, 2015. "Reviving the Limit Cycle View of Macroeconomic Fluctuations," NBER Working Papers 21241, National Bureau of Economic Research, Inc.
    39. Dobromil Serwa, 2011. "Identifying multiple regimes in the model of credit to households," NBP Working Papers 99, Narodowy Bank Polski.
    40. Frömmel, Michael & Schmidt, Torsten, 2006. "Bank Lending and Asset Prices in the Euro Area," RWI Discussion Papers 42, RWI - Leibniz-Institut für Wirtschaftsforschung.
    41. Knight, John & Satchell, Stephen & Srivastava, Nandini, 2014. "Steady state distributions for models of locally explosive regimes: Existence and econometric implications," Economic Modelling, Elsevier, vol. 41(C), pages 281-288.
    42. Frédéric Boissay & Fabrice Collard & Jordi Gali & Cristina Manea, 2023. "Monetary Policy and Endogenous Financial Crises," Working Papers hal-03917780, HAL.
    43. Carol Scotese Lehr, 2001. "Banks and Output Fluctuations," Working Papers 0101, VCU School of Business, Department of Economics.
    44. Hung, Fu-Sheng & Cothren, Richard, 2002. "Credit market development and economic growth," Journal of Economics and Business, Elsevier, vol. 54(2), pages 219-237.
    45. Bruce Smith & Warren E. Weber, 1998. "Private money creation and the Suffolk Banking System," Working Papers 591, Federal Reserve Bank of Minneapolis.
    46. Kiminori Matsuyama, 2007. "Credit Traps and Credit Cycles," American Economic Review, American Economic Association, vol. 97(1), pages 503-516, March.
    47. Markus Eller & Michael Frömmel & Nora Srzentic, 2010. "Private Sector Credit in CESEE: Long-Run Relationships and Short-Run Dynamics," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue 2, pages 50-78.
    48. Elliot Aurissergues, 2016. "The missing corporate investment, are low interest rate to blame ?," Working Papers halshs-01348574, HAL.
    49. Renee Fry-McKibbin & Jasmine Zheng, 2016. "Effects of US monetary policy shocks during financial crises - A threshold vector autoregression approach," CAMA Working Papers 2016-25, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    50. Wai-Hong Ho, 2017. "Financial market globalization, nonconvergence and credit cycles," Annals of Finance, Springer, vol. 13(2), pages 153-180, May.
    51. John Knight & Stephen Satchell & Nandini Srivastava, 2012. "Steady-State Distributions for Models of Bubbles: their Existence and Econometric Implications," Birkbeck Working Papers in Economics and Finance 1208, Birkbeck, Department of Economics, Mathematics & Statistics.
    52. Augier, Laurent & Yaly, Amy, 2013. "Economic growth and disease in the OLG model: The HIV/AIDS case," Economic Modelling, Elsevier, vol. 33(C), pages 471-481.
    53. Meradj Mortezapouraghdam, 2016. "Three Essays on the Role of Frictions in the Economy," Sciences Po publications info:hdl:2441/293qice3lj8, Sciences Po.
    54. Cooper, Russell & Corbae, Dean, 2002. "Financial Collapse: A Lesson from the Great Depression," Journal of Economic Theory, Elsevier, vol. 107(2), pages 159-190, December.
    55. Kiminori Matsuyama, 2002. "Good and Bad Investment: An Inquiry into the Causes of Credit Cycles," CIRJE F-Series CIRJE-F-172, CIRJE, Faculty of Economics, University of Tokyo.
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    45. John H. Boyd & Bruce A. Champ, 2003. "Inflation and financial market performance: what have we learned in the last ten years?," Working Papers (Old Series) 0317, Federal Reserve Bank of Cleveland.
    46. Azariadis, Costas & Bullard, James & Ohanian, Lee, 2004. "Trend-reverting fluctuations in the life-cycle model," Journal of Economic Theory, Elsevier, vol. 119(2), pages 334-356, December.
    47. Kikuchi, Tomoo & Stachurski, John & Vachadze, George, 2018. "Volatile capital flows and financial integration: The role of moral hazard," Journal of Economic Theory, Elsevier, vol. 176(C), pages 170-192.
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    52. Ayse Imrohoroglu & Krishna B. Kumar, 2003. "Entry Costs, Intermediation, and Capital Flows," Macroeconomics 0304001, University Library of Munich, Germany.
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    54. Agliari, Anna & Vachadze, George, 2014. "Credit market imperfection, labor supply complementarity, and output volatility," Economic Modelling, Elsevier, vol. 38(C), pages 45-56.
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    76. Volker Böhm & George Vachadze, 2009. "Sovereign Risk in International Bond Markets and Nonconvergence," DEGIT Conference Papers c014_034, DEGIT, Dynamics, Economic Growth, and International Trade.
    77. Sakuragawa, Masaya & Hamada, Koichi, 2001. "Capital Flight, North-South Lending and Stages of Economic Development," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 42(1), pages 1-24, February.
    78. Hasan, Iftekhar & Molyneux, Phil & Xie, Ru & Hakenes, Hendrik, 2014. "Small banks and local economic development," Bank of Finland Research Discussion Papers 5/2014, Bank of Finland.
    79. Neelam Timsina, 2015. "Impact of Bank Credit on Economic Growth in Nepal," Working Papers id:7271, eSocialSciences.
    80. Fernando Broner & Jaume Ventura, 2016. "Rethinking the Effects of Financial Globalization," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 131(3), pages 1497-1542.
    81. Caroline Betts & Elisabeth Huybens, 1999. "Financial Market Imperfections, Real Exchange Rates, and Capital Flows," Working Papers 9902, Centro de Investigacion Economica, ITAM.
    82. Nombulelo BRAITON & Nicholas M. ODHIAMBO, 2024. "Capital Flows And Institutional Quality: A Systematic Literature Review," Oradea Journal of Business and Economics, University of Oradea, Faculty of Economics, vol. 9(1), pages 113-123, March.

  46. Bruce D. Smith & Thomas J. Sargent, 1997. "Coinage, debasements, and Gresham's laws," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 10(2), pages 197-226.

    Cited by:

    1. Thomas J. Sargent & Francois R. Velde, 1997. "The big problem of small change," Working Paper Series, Macroeconomic Issues WP-97-08, Federal Reserve Bank of Chicago.
    2. Svensson, Roger & Westermark, Andreas, 2015. "Renovatio Monetae: Gesell Taxes in Practice," Working Paper Series 1083, Research Institute of Industrial Economics.
    3. Smith, Bruce D., 2001. "Introduction to Monetary and Financial Arrangements," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 1-21, July.
    4. Francois R. Velde & Warren E. Weber & Randall Wright, "undated". "A Model of Commodity Money, With Application to Gresham's Law and the Debasement Puzzle," CARESS Working Papres 97-7, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
    5. Sussman, Nathan & Zeira, Joseph, 2002. "Commodity Money Inflation: Theory and Evidence from France in 1350-1436," Working Paper Series rwp02-008, Harvard University, John F. Kennedy School of Government.
    6. Quinn, Stephen & Roberds, William, 2014. "How Amsterdam got fiat money," Journal of Monetary Economics, Elsevier, vol. 66(C), pages 1-12.
    7. John H. Munro, 2009. "Coinage and Monetary Policies in Burgundian Flanders during the late-medieval 'Bullion Famines',. 1384 - 1482," Working Papers tecipa-361, University of Toronto, Department of Economics.
    8. Jin, Gu & Zhu, Tao, 2019. "Debasements and Small Coins: An Untold Story of Commodity Money," MPRA Paper 93057, University Library of Munich, Germany.
    9. Li, Yiting, 2002. "Government transaction policy and Gresham's law," Journal of Monetary Economics, Elsevier, vol. 49(2), pages 435-453, March.
    10. Rolnick, Arthur J. & Weber, Warren E., 2003. "Review of Thomas J. Sargent and Francois R. Velde, The Big Problem of Small Change," Journal of Political Economy, University of Chicago Press, vol. 111(2), pages 459-488, April.
    11. Burdett, Kenneth & Trejos, Alberto & Wright, Randall, 2001. "Cigarette Money," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 117-142, July.
    12. Paal, Beatrix, 2001. "Dynamic Consequences of Stabilization Policies Based on a Return to a Gold Standard," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 143-186, July.

  47. Betts, Caroline M & Smith, Bruce D, 1997. "Money, Banking, and the Determination of Real and Nominal Exchange Rates," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 38(3), pages 703-734, August.

    Cited by:

    1. Lise Clain-Chamosset-Yvrard & Takashi Kamihigashi, 2015. "International Transmission of Bubble Crashes in a Two-Country Overlapping Generations," Discussion Paper Series DP2015-43, Research Institute for Economics & Business Administration, Kobe University.
    2. Chang, Roberto & Velasco, Andres, 2000. "Financial Fragility and the Exchange Rate Regime," Journal of Economic Theory, Elsevier, vol. 92(1), pages 1-34, May.
    3. Kawamura, Enrique, 2007. "Exchange rate regimes, banking and the non-tradable sector," Journal of Monetary Economics, Elsevier, vol. 54(2), pages 325-345, March.
    4. Lise Clain-Chamosset-Yvrard & Takashi Kamihigashi, 2017. "International transmission of bubble crashes in a two-country overlapping generations model," Post-Print hal-01505766, HAL.
    5. Caroline Betts & Elisabeth Huybens, 1999. "Financial Market Imperfections, Real Exchange Rates, and Capital Flows," Working Papers 9902, Centro de Investigacion Economica, ITAM.

  48. Greenwood, Jeremy & Smith, Bruce D., 1997. "Financial markets in development, and the development of financial markets," Journal of Economic Dynamics and Control, Elsevier, vol. 21(1), pages 145-181, January.
    See citations under working paper version above.
  49. Bencivenga, Valerie R & Smith, Bruce D, 1997. "Unemployment, Migration, and Growth," Journal of Political Economy, University of Chicago Press, vol. 105(3), pages 582-608, June.
    See citations under working paper version above.
  50. Schreft, Stacey L. & Smith, Bruce D., 1997. "Money, Banking, and Capital Formation," Journal of Economic Theory, Elsevier, vol. 73(1), pages 157-182, March.
    See citations under working paper version above.
  51. Highfield, Richard A. & O'Hara, Maureen & Smith, Bruce, 1996. "Do open market operations matter? Theory and evidence from the Second Bank of the United States," Journal of Economic Dynamics and Control, Elsevier, vol. 20(1-3), pages 479-519.
    See citations under working paper version above.
  52. Boyd, John & Smith, Bruce, 1996. "The Coevolution of the Real and Financial Sectors in the Growth Process," The World Bank Economic Review, World Bank, vol. 10(2), pages 371-396, May.
    See citations under working paper version above.
  53. Bruce Champ & Bruce D. Smith & Stephen D. Williamson, 1996. "Currency Elasticity and Banking Panics: Theory and Evidence," Canadian Journal of Economics, Canadian Economics Association, vol. 29(4), pages 828-864, November.
    See citations under working paper version above.
  54. Bencivenga, Valerie R & Smith, Bruce D & Starr, Ross M, 1996. "Equity Markets, Transactions Costs, and Capital Accumulation: An Illustration," The World Bank Economic Review, World Bank, vol. 10(2), pages 241-265, May.

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    1. Castaneda, Gonzalo, 2006. "Economic growth and concentrated ownership in stock markets," Journal of Economic Behavior & Organization, Elsevier, vol. 59(2), pages 249-286, February.
    2. Bernard N. Iyke & Sin-Yu Ho, 2016. "On the Causal Links between the Stock Market and the Economy of Hong Kong," Working Papers 591, Economic Research Southern Africa.
    3. Yongming Shi & Khalid Ahmed & Sudharshan Reddy Paramati, 2021. "Determinants of stock market development and price volatility in ASEAN plus three countries: The role of institutional quality," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(1), pages 560-572, January.
    4. Enaruna, Dubem Victor & Okene, Anthony Jovwo (ACA), 2019. "The Impact of the Capital Market on Investment in the Real Sector of the Nigerian Economy," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 3(11), pages 83-90, November.
    5. Leo Ferraris & Raoul Minetti, 2007. "Foreign Lenders and the Real Sector," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(4), pages 945-964, June.
    6. Ho, Sin-Yu, 2018. "Determinants of Economic Growth in Hong Kong: The Role of Stock Market Development," MPRA Paper 88788, University Library of Munich, Germany.
    7. Salvatore Capasso, 2004. "Stock market development and economic growth: a matter of informational problems," Money Macro and Finance (MMF) Research Group Conference 2003 10, Money Macro and Finance Research Group.
    8. Statty Stattev, 2009. "Interactions between Financial Development and Economic Growth: Theoretical Approaches and Solutions," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 55-79.
    9. Rosa Capolupo, 2018. "Finance, Investment and Growth: Evidence for Italy," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 47(1), pages 145-186, February.
    10. Alessandro Giovannini & Maurizio Iacopetta & Raoul Minetti, 2013. "Financial Markets, Banks, and Growth : Disentangling the links," Post-Print halshs-01948038, HAL.
    11. Salvatore Capasso, 2006. "Stock Market Development and Economic Growth: A Matter of Information Dynamics," CSEF Working Papers 166, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    12. Sin-Yu Ho, 2018. "Macroeconomic determinants of stock market development in South Africa," International Journal of Emerging Markets, Emerald Group Publishing Limited, vol. 14(2), pages 322-342, December.
    13. Beck, Thorsten & Albuquerque de Sousa, José & Van Dijk, Mathijs & van Bergeijk, Peter A.G., 2016. "Nascent markets: Understanding the success and failure of new stock markets," CEPR Discussion Papers 11604, C.E.P.R. Discussion Papers.
    14. Durusu-Ciftci, Dilek & Ispir, M. Serdar & Yetkiner, Hakan, 2017. "Financial development and economic growth: Some theory and more evidence," Journal of Policy Modeling, Elsevier, vol. 39(2), pages 290-306.
    15. Ho, Sin-Yu & Odhiambo, Nicholas, 2017. "Analysing the macroeconomic drivers of stock Market development in the Philippines," Working Papers 23439, University of South Africa, Department of Economics.
    16. Erdogan, Oral & Tata, Kenan & Karahasan, B. Can & Sengoz, M. Hakan, 2013. "Dynamics of the co-movement between stock and maritime markets," International Review of Economics & Finance, Elsevier, vol. 25(C), pages 282-290.
    17. Ana Lilia Hernández Pineda & Alí Aali-Bujari, 2022. "¿Impulsan la actividad económica en América Latina el número de sucursales bancarias y cajeros automáticos?," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 17(1), pages 1-13, Enero - M.
    18. Sin-Yu Ho, 2019. "The macroeconomic determinants of stock market development in Malaysia: an empirical analysis," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 21(2), pages 174-193.
    19. Shahbaz, Muhammad & Ur Rehman, Ijaz & Zainudin, Rozaimah, 2013. "Macroeconomic Determinants of Stock Market Capitalization in Pakistan:Fresh Evidence from Cointegration with unknown Structural breaks," MPRA Paper 52490, University Library of Munich, Germany, revised 24 Dec 2013.
    20. Hana Bawazir & Mukesh Kumar & Saban Celik & Khadija Abdulredha Abdulla & Bora Aktan, 2020. "The interdependence between stock market development and economic growth: a multi-country examination," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 38(2), pages 619-652.
    21. Yeþim Helhel, 2019. "Kýrýlgan Beþli Ülkelerde Hisse Senedi Piyasasý Geliþimi ve Ekonomik Büyüme Ýliþkisi," Isletme ve Iktisat Calismalari Dergisi, Econjournals, vol. 7(1), pages 19-29.
    22. Kar, Muhsin & Nazlıoğlu, Şaban & Ağır, Hüseyin, 2011. "Financial development and economic growth nexus in the MENA countries: Bootstrap panel granger causality analysis," Economic Modelling, Elsevier, vol. 28(1), pages 685-693.
    23. Andriansyah, Andriansyah & Messinis, George, 2014. "Equity markets and economic development: Does the primary market matter?," MPRA Paper 116698, University Library of Munich, Germany.
    24. Cheng, Su-Yin, 2012. "Substitution or complementary effects between banking and stock markets: Evidence from financial openness in Taiwan," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 22(3), pages 508-520.
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    26. Ali Aali-Bujari & Francisco Venegas-Martínez & Gilberto Pérez-Lechuga, 2017. "Impact of the stock market capitalization and thebanking spread in growth and development in LatinAmerican: A panel data estimation with System GMM," Contaduría y Administración, Accounting and Management, vol. 62(5), pages 3-4, Diciembre.
    27. Muhammad Shahbaz & Ijaz Ur Rehman & Talat Afza, 2016. "Macroeconomic determinants of stock market capitalization in an emerging market: fresh evidence from cointegration with unknown structural breaks," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 9(1), pages 75-99, March.
    28. Valeriano F. García & Lin Liu, 1999. "Macroeconomic Determinants of Stock Market Development," Journal of Applied Economics, Universidad del CEMA, vol. 2, pages 29-59, May.
    29. Cooray, Arusha, 2010. "Do stock markets lead to economic growth?," Journal of Policy Modeling, Elsevier, vol. 32(4), pages 448-460, July.
    30. Andriansyah, Andriansyah, 2016. "Savings and Investment in Indonesia," MPRA Paper 105254, University Library of Munich, Germany.
    31. , Aisdl, 2019. "Herd Behavior of Investments: An Assessment of Indian Stock Market," OSF Preprints 324nu, Center for Open Science.
    32. Imen Kouki & Nizar Harrathi, 2013. "Financial Development and Economic Growth in the North African Region," African Development Review, African Development Bank, vol. 25(4), pages 551-562, December.
    33. Ismail O. Fasanya & Adegbemi B. O Onakoya & Donald Ikenna Ofoegbu, 2013. "Capital Market Development: A Spur to Economic Growth in Nigeria," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 9(5), pages 222-234, October.
    34. Arhan Sheth & Tulasi Sushra & Ameya Kshirsagar & Manan Shah, 2022. "Global Economic Impact in Stock and Commodity Markets during Covid-19 pandemic," Annals of Data Science, Springer, vol. 9(5), pages 889-907, October.
    35. Sin-Yu Ho & Nicholas M Odhiambo, 2015. "Stock market performance in Hong Kong: an exploratory review," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 29(1), pages 47-61, May.
    36. Missaoui, Ibtissem & Ben Rejeb, Jaleleddine, 2017. "Corruption, secteur bancaire et développement du marché boursier : cas des pays de la zone EURO [Corruption, the banking sector and the development of the stock market: the case of the countries of," MPRA Paper 83620, University Library of Munich, Germany.
    37. Manuel Ennes Ferreira & João Dias & Jelson Serafim, 2022. "Stock Market and Economic Growth: Evidence from Africa," Working Papers REM 2022/0228, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    38. Misati, Roseline Nyakerario & Nyamongo, Esman Morekwa, 2011. "Financial development and private investment in Sub-Saharan Africa," Journal of Economics and Business, Elsevier, vol. 63(2), pages 139-151, March.
    39. Adeola F. Adenikinju & Olugboyega Oyeranti, 1999. "Characteristics and Behaviour of African Factor Markets and Market Institutions and Their Consequences for Economic Growth," CID Working Papers 31A, Center for International Development at Harvard University.
    40. Okey O. Ovat, 2014. "Assessing the Extent of Development of the Nigerian Capital Market: A Comparative Analysis," International Journal of Financial Economics, Research Academy of Social Sciences, vol. 2(2), pages 73-81.
    41. Sin-Yu Ho & Bernard Njindan Iyke, 2017. "Determinants of stock market development: a review of the literature," Studies in Economics and Finance, Emerald Group Publishing Limited, vol. 34(1), pages 143-164, March.
    42. Ho, Sin-Yu, 2017. "The Macroeconomic Determinants of Stock Market Development: Evidence from Malaysia," MPRA Paper 77232, University Library of Munich, Germany.
    43. Salvatore Capasso, 2004. "Financial Markets, Development and Economic Growth: Tales of Informational Asymmetries," Journal of Economic Surveys, Wiley Blackwell, vol. 18(3), pages 267-292, July.
    44. Pessoa, Filipe de Morais Cangussu & Braga, Marcelo José, 2019. "Economic growth and financial development in Brazil: a flexible regression model approach," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), August.
    45. Ho, Sin-Yu & Odhiambo, Nicholas, 2017. "The macroeconomic drivers of stock market development: Evidence from Hong Kong," Working Papers 23438, University of South Africa, Department of Economics.
    46. STEFANOVA, St. Julia, 2019. "Prospects And Challenges Facing Frontier Stock Markets In The Western Balkans: Quo Vadis?," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 23(2), pages 6-31, June.
    47. Mercan Hatipoglu, 2020. "Revisiting Linkages between Stock Prices and Real Activity in OECD Countries: Does Finance Respond to Changing Situation of Economy?," Prague Economic Papers, Prague University of Economics and Business, vol. 2020(1), pages 105-126.
    48. Misati, Roseline Nyakerario & Nyamongo, Esman Morekwa, 2011. "Financial development and private investment in Sub-Saharan Africa," Journal of Economics and Business, Elsevier, vol. 63(2), pages 139-151.
    49. Agarwal, Sumit & Mohtadi, Hamid, 2004. "Financial markets and the financing choice of firms: Evidence from developing countries," Global Finance Journal, Elsevier, vol. 15(1), pages 57-70.
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    52. Santonu Basu, 2006. "Structural Problems in Financing Development: Issues Relating to India," International Review of Applied Economics, Taylor & Francis Journals, vol. 20(1), pages 85-101.
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    54. Karahasan, Burhan Can, 2009. "Financial Liberalization and Regional Impacts on Entrepreneurial Behavior in Turkey," MPRA Paper 29814, University Library of Munich, Germany, revised 2011.
    55. Tang, Hong Peng & Habibullah, Muzafar Shah & Puah, Chin-Hong, 2007. "Stock market and economic growth in selected Asian countries," MPRA Paper 37649, University Library of Munich, Germany.
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    58. Bijay, K. C. & Snowden, P. N., 1999. "Pricing Shares on a Nascent Market: The Nepal Stock Exchange 1994-96," World Development, Elsevier, vol. 27(6), pages 1083-1096, June.
    59. Babajide Abiola Ayopo & Lawal Adedoyin Isola & Somoye Russel Olukayode, 2016. "Stock Market Volatility: Does Our Fundamentals Matter?," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 33-42.
    60. Ake Boubakari & Dehuan Jin, 2010. "The Role of Stock Market Development in Economic Growth: Evidence from Some Euronext Countries," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 1(1), pages 14-20, December.
    61. Nguyen, Trang & Chaiechi, Taha & Eagle, Lynne & Low, David, 2020. "Dynamic impacts of SME stock market development and innovation on macroeconomic indicators: A Post-Keynesian approach," Economic Analysis and Policy, Elsevier, vol. 68(C), pages 327-347.

  55. Azariadis, Costas & Smith, Bruce D, 1996. "Private Information, Money, and Growth: Indeterminacy, Fluctuations, and the Mundell-Tobin Effect," Journal of Economic Growth, Springer, vol. 1(3), pages 309-332, September.

    Cited by:

    1. Beatrix Paal & Bruce D. Smith, 2013. "The sub-optimality of the Friedman rule and the optimum quantity of money," Annals of Economics and Finance, Society for AEF, vol. 14(2), pages 911-948, November.
    2. Takuma Kunieda & Tarishi Matsuoka & Akihisa Shibata, 2017. "Asset Bubbles, Technology Choice, and Financial Crises," Discussion Paper Series 157, School of Economics, Kwansei Gakuin University, revised Feb 2017.
    3. Ken-ichi Hashimoto & Ryonghun Im & Takuma Kunieda & Akihisa Shibata, 2021. "Financial Destabilization," KIER Working Papers 1054, Kyoto University, Institute of Economic Research.
    4. Kontogiannis, Nikolaos & Litina, Anastasia & Varvarigos, Dimitrios, 2019. "Occupation-induced status, social norms, and economic growth," Journal of Economic Behavior & Organization, Elsevier, vol. 163(C), pages 348-360.
    5. Sulemana Mahawiya, 2015. "Financial sector development and threshold effect of inflation in ECOWAS and SADC: A Panel smooth transition regression approach," Working Papers 539, Economic Research Southern Africa.
    6. Mei Dong, 2009. "Money and Costly Credit," 2009 Meeting Papers 404, Society for Economic Dynamics.
    7. Rangan Gupta, 2005. "Costly State Monitoring and Reserve Requirements," Annals of Economics and Finance, Society for AEF, vol. 6(2), pages 263-288, November.
    8. Mu-Shun Wang, 2013. "An Investigation of the Feldstein–Horioka Puzzle for the Association of Southeast Asian Nations Economies," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 46(4), pages 424-443, December.
    9. Brancaccio, Emiliano & Garbellini, Nadia & Giammetti, Raffaele, 2018. "Structural labour market reforms, GDP growth and the functional distribution of income," Structural Change and Economic Dynamics, Elsevier, vol. 44(C), pages 34-45.
    10. Khan, Mohsin S. & Senhadji, Abdelhak S. & Smith, Bruce D., 2006. "Inflation And Financial Depth," Macroeconomic Dynamics, Cambridge University Press, vol. 10(2), pages 165-182, April.
    11. Santos ALIMI, 2014. "Inflation and Financial Sector Performance: the Case of Nigeria," Timisoara Journal of Economics and Business, West University of Timisoara, Romania, Faculty of Economics and Business Administration, vol. 7(1), pages 55-69.
    12. Mihasonirina Andrianaivo & Charles Amo Yartey, 2009. "Understanding the Growth of African Financial Markets," IMF Working Papers 2009/182, International Monetary Fund.
    13. Bruce D. Smith & Beatrix Paal & Ke Wang, 2005. "Monopoly versus Competition in Banking: Some Implications for Growth and Welfare," 2005 Meeting Papers 435, Society for Economic Dynamics.
    14. Sin-Yu Ho, 2019. "The macroeconomic determinants of stock market development in Malaysia: an empirical analysis," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 21(2), pages 174-193.
    15. Jones, Larry E. & Manuelli, Rodolfo E., 2001. "Volatile Policy and Private Information: The Case of Monetary Shocks," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 265-296, July.
    16. Smith, Bruce D., 2001. "Introduction to Monetary and Financial Arrangements," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 1-21, July.
    17. Oliver Asiamah & Samuel Kwaku Agyei, 2023. "Information sharing offices and economic growth in sub‐Saharan Africa," African Development Review, African Development Bank, vol. 35(2), pages 211-225, June.
    18. Andrew Ang & Marie Brière & Ombretta Signori, 2012. "Inflation and Individual Equities," NBER Working Papers 17798, National Bureau of Economic Research, Inc.
    19. Dimitrios Varvarigos & Nikolaos Kontogiannis, 2017. "Entrepreneurial Status, Social Norms, and Economic Growth," Discussion Papers in Economics 17/05, Division of Economics, School of Business, University of Leicester.
    20. Raghbendra Jha & Tu Ngoc Dang, 2012. "Inflation variability and the relationship between inflation and growth," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 5(1), pages 3-17, July.
    21. Manoel Bittencourt, 2008. "Inflation and Financial Development: Evidence from Brazil," Working Papers 067, Economic Research Southern Africa.
    22. Nazima Ellahi & Adiqa Kausar Kiani & Muhammad Awais & Hina Affandi & Rabia Saghir & Sarah Qaim, 2021. "Investigating the Institutional Determinants of Financial Development: Empirical Evidence From SAARC Countries," SAGE Open, , vol. 11(2), pages 21582440211, April.
    23. Gaetano Antinolfi & Claudia M. Landeo & Maxim Nikitin, 2007. "Dollarization and the inflation threshold," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 40(2), pages 628-649, May.
    24. Conceição Pereira, 2003. "The Effects of Households’ and Firms’ Borrowing Constraints on Economic Growth," GEMF Working Papers 2003-04, GEMF, Faculty of Economics, University of Coimbra.
    25. Hossain, Monzur & Rafiq, Farhana, 2012. "Global Commodity Price Volatility and Domestic Inflation: Impact on the Performance of the Financial Sector in Bangladesh," MPRA Paper 52167, University Library of Munich, Germany.
    26. Gilbert Batsinda & Jaya Shukla, 2021. "Inflation and Profitability of Commercial Banks in Rwanda: A Case Study of Bank of Kigali," International Journal of Business and Management, Canadian Center of Science and Education, vol. 14(10), pages 1-35, July.
    27. Dong-Hyeon Kim & Shu-Chin Lin, 2012. "Inflation and Inflation Volatility Revisited," International Finance, Wiley Blackwell, vol. 15(3), pages 327-345, December.
    28. Deepraj Mukherjee & Nabamita Dutta, 2013. "Do Political Institutions and Culture Jointly Matter for Financial Development? A Cross-Country Panel Investigation," Global Economy Journal (GEJ), World Scientific Publishing Co. Pte. Ltd., vol. 13(2), pages 203-232, June.
    29. Fu-Sheng Hung & Chien-Chiang Lee, 2010. "Asymmetric Information, Government Fiscal Policies, and Financial Development," Economic Development Quarterly, , vol. 24(1), pages 60-73, February.
    30. Shu-Hua Chen, 2015. "Fiscal and Monetary Policies in a Transactions-Based Endogenous Growth Model with Imperfect Competition," The Japanese Economic Review, Japanese Economic Association, vol. 66(1), pages 89-111, March.
    31. Espinosa-Vega, Marco A. & Smith, Bruce D. & Yip, Chong K., 2002. "Monetary Policy and Government Credit Programs," Journal of Financial Intermediation, Elsevier, vol. 11(3), pages 232-268, July.
    32. Lukas Altermatt & Christian Wipf, 2020. "Liquidity, the Mundell-Tobin Effect, and the Friedman Rule," Diskussionsschriften dp2013, Universitaet Bern, Departement Volkswirtschaft.
    33. Agliari, Anna & Rillosi, Francesco & Vachadze, George, 2015. "Credit market imperfection, financial market globalization, and catastrophic transition," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 108(C), pages 41-62.
    34. Monal Abdel-Baki, 2011. "The efficacy of the Egyptian bank reform plan in mitigating the impact of the global financial crisis," Economic Change and Restructuring, Springer, vol. 44(3), pages 221-241, August.
    35. James B. Bullard & John W. Keating, 1994. "Superneutrality in postwar economies," Working Papers 1994-011, Federal Reserve Bank of St. Louis.
    36. Manoel Bittencourt, 2010. "Financial Development and Economic Growth in Latin America: Schumpeter is Right!," Working Papers 201014, University of Pretoria, Department of Economics.
    37. Hiraguchi Ryoji, 2017. "Optimal Monetary Policy in an Overlapping Generations Model with Search Theoretic Monetary Exchange," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 17(2), pages 1-14, June.
    38. Bittencourt, Manoel, 2011. "Financial Development and Economic Growth in Latin America: Is Schumpeter Right?," Proceedings of the German Development Economics Conference, Berlin 2011 13, Verein für Socialpolitik, Research Committee Development Economics.
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    1. Fabio R. Chaddad & Michael L. Cook, 2004. "The Economics of Organization Structure Changes: a US perspective on demutualization," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 75(4), pages 575-594, December.
    2. Seog S. Hun, 2006. "Limited Competition, Information Asymmetry, and Organizational Forms," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 1(2), pages 1-14, February.
    3. Byeongyong Paul Choi & Elyas Elyasiani, 2011. "Foreign-owned insurer performance in the US property-liability markets," Applied Economics, Taylor & Francis Journals, vol. 43(3), pages 291-306.
    4. Francesca Barigozzi & Renaud Bourlès & Dominique Henriet & Giuseppe Pignataro, 2017. "Pool size and the sustainability of optimal risk-sharing agreements," Theory and Decision, Springer, vol. 82(2), pages 273-303, February.
    5. Louis Lévy-Garboua & Claude Montmarquette & Jonathan Vaksmann & Marie-Claire Villeval, 2017. "Voluntary Contributions to a Mutual Insurance Pool," PSE-Ecole d'économie de Paris (Postprint) hal-01476440, HAL.
    6. Laux, Christian & Muermann, Alexander, 2006. "Mutual versus stock insurers: Fair premium, capital, and solvency," CFS Working Paper Series 2006/26, Center for Financial Studies (CFS).
    7. Chris O'Brien, 2006. "The Downfall of Equitable Life in the United Kingdom: The Mismatch of Strategy and Risk Management," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 9(2), pages 189-204, September.
    8. Braun, Alexander & Schmeiser, Hato & Rymaszewski, Przemysław, 2015. "Stock vs. mutual insurers: Who should and who does charge more?," European Journal of Operational Research, Elsevier, vol. 242(3), pages 875-889.
    9. Hendrik Hakenes & Isabel Schnabel, 2006. "The Threat of Capital Drain: A Rationale for Public Banks?," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2006_11, Max Planck Institute for Research on Collective Goods.
    10. Edward J. Kane & Robert Hendershott, 1994. "The Federal Deposit Insurance Fund That Didn't Put A Bite on U.S. Tax Payers," NBER Working Papers 4648, National Bureau of Economic Research, Inc.
    11. Joseph W. Meador & Emery A. Trahan, 2008. "The Intra-Industry Effects of Life Insurance Company Demutualizaton," JRFM, MDPI, vol. 1(1), pages 1-23, December.
    12. Antti Talonen & Iiro Jussila & Hannu Saarijärvi & Timo Rintamäki, 2016. "Consumer cooperatives: uncovering the value potential of customer ownership," AMS Review, Springer;Academy of Marketing Science, vol. 6(3), pages 142-156, December.
    13. Fabrice Roth, 2012. "Crise et régulation des marchés financiers : Quel impact sur les formes mutuelles dans l'assurance ?," Working Papers halshs-00692342, HAL.
    14. Lars Fredrik Andersson & Liselotte Eriksson, 2016. "Voluntary or compulsory? Exploring dynamics of mutual cooperative formation in Swedish health insurance at the turn of the twentieth century," Working Papers 16007, Economic History Society.
    15. Laux, Christian & Muermann, Alexander, 2010. "Financing risk transfer under governance problems: Mutual versus stock insurers," Journal of Financial Intermediation, Elsevier, vol. 19(3), pages 333-354, July.
    16. Pierre Picard, 2009. "Participating insurance contracts and the Rothschild-Stiglitz equilibrium puzzle," Working Papers hal-00413825, HAL.
    17. John E. Murray, 2011. "Asymmetric Information and Countermeasures in Early Twentieth‐Century American Short‐Term Disability Microinsurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 78(1), pages 117-138, March.
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    19. Nekby, Lena, 2001. "Pure vs. Mutual Sick Insurance Societies. Evidence from Swedish Historical Data," Research Papers in Economics 2001:10, Stockholm University, Department of Economics.
    20. Luigi Buzzacchi & Gilberto Turati, 2009. "Collective Risks in Local Administrations: Can a Private Insurer Be Better than a Public Mutual Fund?," Working papers 03, Former Department of Economics and Public Finance "G. Prato", University of Torino.
    21. Mike Adams, 1996. "Investment Earnings and the Characteristics of Life Insurance Firms: New Zealand Evidence," Australian Journal of Management, Australian School of Business, vol. 21(1), pages 41-55, June.
    22. Byeongyong Paul Choi, 2010. "The U.S. Property and Liability Insurance Industry: Firm Growth, Size, and Age," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 13(2), pages 207-224, September.
    23. Fabrice Roth, 1998. "Structures de propriété, pouvoir discrétionnaire managérial et choix d'activité dans l'assurance dommages en France," Revue Finance Contrôle Stratégie, revues.org, vol. 1(1), pages 169-194, March.

  61. Bruce D. Smith & Ross M. Starr & Valerie R. Bencivenga, 1995. "Liquidity of secondary capital markets: Allocative efficiency and the maturity composition of the capital stock," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 7(1), pages 19-50.

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    1. Ayşegül Durucan, 2022. "Testing The Validity Of The Bars Curve For Turkey," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 67(232), pages 153-192, January –.
    2. Uras, R.B., 2014. "Financial Development, Long-Term Finance and the Macroeconomy : The Role of Secondary Markets," Discussion Paper 2014-044, Tilburg University, Center for Economic Research.
    3. Amal Mohammed Al-Masawa & Rasidah Mohd-Rashid & Hamdan Amer Al-Jaifi, 2020. "A Descriptive Analysis of IPOs Post Listing Liquidity in Malaysia," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(1), pages 171-180, January.
    4. Huybens, Elisabeth & Smith, Bruce D., 1999. "Inflation, financial markets and long-run real activity," Journal of Monetary Economics, Elsevier, vol. 43(2), pages 283-315, April.
    5. Ferreira, José & Gama, Ana, 2020. "The Relationship Between The Factors Of Risk In Asset Evaluation Models And Future Economic Growth: Evidence From Three Regional Markets," Journal of Tourism, Sustainability and Well-being, Cinturs - Research Centre for Tourism, Sustainability and Well-being, University of Algarve, vol. 8(4), pages 300-319.
    6. Boyd, John H. & Chang, Chun & Smith, Bruce D., 2002. "Deposit insurance: a reconsideration," Journal of Monetary Economics, Elsevier, vol. 49(6), pages 1235-1260, September.
    7. Bental, Benjamin & Demougin, Dominique, "undated". "Should We Have or Should We Have Not, and Who Should Have Paid?," Working Papers WP2011/3, University of Haifa, Department of Economics.
    8. Uras, Burak R., 2020. "Finance and development: Rethinking the role of financial transparency," Journal of Banking & Finance, Elsevier, vol. 111(C).
    9. Greenwood, Jeremy & Smith, Bruce D., 1997. "Financial markets in development, and the development of financial markets," Journal of Economic Dynamics and Control, Elsevier, vol. 21(1), pages 145-181, January.
    10. Fjesme, Sturla L. & Galpin, Neal E. & Moore, Lyndon, 2021. "Rejected stock exchange applicants," Journal of Financial Economics, Elsevier, vol. 139(2), pages 502-521.
    11. Zaib Maroof & Shahzad Hussain & Muhammad Jawad & Munazza Naz, 2019. "Determinants of industrial development: a panel analysis of South Asian economies," Quality & Quantity: International Journal of Methodology, Springer, vol. 53(3), pages 1391-1419, May.
    12. Demirguc-Kunt, Asli & Maksimovic, Vojislav, 1995. "Stock market development and firm financing choices," Policy Research Working Paper Series 1461, The World Bank.
    13. Chen Su, 2023. "The price impact of analyst revisions and the state of the economy: Evidence around the world," The Financial Review, Eastern Finance Association, vol. 58(4), pages 887-930, November.
    14. O uzhan Yilmaz, 2016. "Analysis of the Relationships between Financial Development and Economic Growth through Romer's Expanding Variety of Products Model: The Case of Turkey," International Journal of Economics and Financial Issues, Econjournals, vol. 6(3), pages 1155-1164.
    15. Hamdan Amer Al-Jaifi & Ahmed Hussein Al-rassas & Adel Ali AL-Qadasi, 2017. "Corporate governance strength and stock market liquidity in Malaysia," International Journal of Managerial Finance, Emerald Group Publishing Limited, vol. 13(5), pages 592-610, August.
    16. Uras, R.B., 2013. "Investment composition and productivity with heterogeneous entrepreneurs," Other publications TiSEM bb13eb7b-3cd1-4274-b584-b, Tilburg University, School of Economics and Management.
    17. Uras, Burak R., 2019. "Unbundling Financial Imperfections: Lending Frictions Vs. Trading Frictions," Macroeconomic Dynamics, Cambridge University Press, vol. 23(4), pages 1401-1441, June.
    18. ABOUDOU Maman Tachiwou, 2009. "Causality tests between stock market development and economic growth in West African Monetary Union," Economia. Seria Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 12(2), pages 14-27, December.
    19. Bental, Benjamin & Demougin, Dominique, 2016. "Privatizing profits and socializing losses with smoothly operating capital markets," European Journal of Political Economy, Elsevier, vol. 44(C), pages 179-194.

  62. Smith, Bruce D, 1995. "Sectoral Employment and Cyclical Fluctuations in an Adverse Selection Model," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 36(2), pages 261-281, May.
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  63. Smith, Bruce D, 1994. "Efficiency and Determinacy of Equilibrium under Inflation Targeting," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 4(3), pages 327-344.

    Cited by:

    1. Bhattacharya, Joydeep & Singh, Rajesh, 2008. "Optimal choice of monetary policy instruments in an economy with real and liquidity shocks," Journal of Economic Dynamics and Control, Elsevier, vol. 32(4), pages 1273-1311, April.
    2. Gaetano Antinolfi & Elisabeth Huybens, 2000. "Monetary Stability and Liquidity Crises: The Role of the Lender of Last Resort," Econometric Society World Congress 2000 Contributed Papers 1156, Econometric Society.
    3. Cooper, R. & Kempf, H. & Peled, D., 2007. "Regional Debt in Monetary Unions: Is it Inflationary?," Working papers 186, Banque de France.
    4. Russell W. Cooper & Hubert Kempf & Dan Peled, 2009. "Insulation impossible: fiscal spillovers in a monetary union," Globalization Institute Working Papers 30, Federal Reserve Bank of Dallas.
    5. Goenka, A. & Jafarey, S. & Pouliot, W., 2012. "Pollution, mortality and optimal environmental policy," Working Papers 12/07, Department of Economics, City University London.
    6. Huberto Ennis & Todd Keister, 2000. "Government Policy and Probabilistic Equilibrium Selection," Econometric Society World Congress 2000 Contributed Papers 1148, Econometric Society.
    7. Smith, Bruce D., 2001. "Introduction to Monetary and Financial Arrangements," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 1-21, July.
    8. Russell COOPER, 2012. "Exit from a Monetary Union through Euroization: Discipline without chaos," Economics Working Papers ECO2012/09, European University Institute.
    9. Keister, Todd, 1998. "Money Taxes and Efficiency When Sunspots Matter," Journal of Economic Theory, Elsevier, vol. 83(1), pages 43-68, November.
    10. Ghiglino, Christian & Shell, Karl, 1998. "The economic effects of restrictions on government budget deficits," Working Papers 03-1998, Copenhagen Business School, Department of Economics.
    11. Aditya Goenka & Saqib Jafarey & William Pouliot, 2019. "Pollution, Mortality and Time Consistent Abatement Taxes," Discussion Papers 19-12, Department of Economics, University of Birmingham.
    12. Cooper, R. & Kempf, H. & Peled, D., 2009. "Monetary rules and the spillover of regional fiscal policies in a federation," Working papers 233, Banque de France.
    13. Espinosa-Vega, Marco A. & Smith, Bruce D. & Yip, Chong K., 2002. "Monetary Policy and Government Credit Programs," Journal of Financial Intermediation, Elsevier, vol. 11(3), pages 232-268, July.
    14. Stacey L. Schreft & Bruce Smith, 2002. "The conduct of monetary policy with a shrinking stock of government debt," Proceedings, Federal Reserve Bank of Cleveland, pages 848-886.
    15. Azariadis, Costas & Bullard, James & Ohanian, Lee, 2004. "Trend-reverting fluctuations in the life-cycle model," Journal of Economic Theory, Elsevier, vol. 119(2), pages 334-356, December.
    16. Guo, Jang-Ting & Lansing, Kevin J., 2002. "Fiscal Policy, Increasing Returns, And Endogenous Fluctuations," Macroeconomic Dynamics, Cambridge University Press, vol. 6(5), pages 633-664, November.
    17. Russell Cooper & Hubert Kempf & Dan Peled, 2004. "Is it is or is it Ain't my Obligation? Regional Debt in Monetary Unions," NBER Working Papers 10239, National Bureau of Economic Research, Inc.
    18. Michael Woodford, 1994. "Nonstandard Indicators for Monetary Policy: Can Their Usefulness Be Judged from Forecasting Regressions?," NBER Chapters, in: Monetary Policy, pages 95-115, National Bureau of Economic Research, Inc.
    19. Paal, Beatrix, 2001. "Dynamic Consequences of Stabilization Policies Based on a Return to a Gold Standard," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 143-186, July.

  64. Smith, Bruce D., 1994. "Mischief and monetary history Friedman and Schwartz thirty years later," Journal of Monetary Economics, Elsevier, vol. 34(1), pages 27-46, August.

    Cited by:

    1. Costas Azariadis & James B. Bullard & Bruce Smith, 2000. "Private and public circulating liabilities," Working Papers 2000-012, Federal Reserve Bank of St. Louis.
    2. Lastrapes, W. D., 1998. "International evidence on equity prices, interest rates and money," Journal of International Money and Finance, Elsevier, vol. 17(3), pages 377-406, June.

  65. Boyd, John H & Smith, Bruce D, 1994. "How Good Are Standard Debt Contracts? Stochastic versus Nonstochastic Monitoring in a Costly State Verification Environment," The Journal of Business, University of Chicago Press, vol. 67(4), pages 539-561, October.

    Cited by:

    1. Pierre-Richard Agenor & Joshua Aizenman, 1998. "Volatility and the Welfare Costs of Financial Market Integration," NBER Working Papers 6782, National Bureau of Economic Research, Inc.
    2. Elisabeth Huybens & Bruce D. Smith, 1996. "Financial Market Frictions, Monetary Policy and Capital Accumulation in a Small Open Economy," Working Papers 9608, Centro de Investigacion Economica, ITAM.
    3. Agenor, Pierre-Richard & Aizenman, Joshua, 2008. "Capital Market Imperfections and the Theory of Optimum Currency Areas," Santa Cruz Department of Economics, Working Paper Series qt7668j94x, Department of Economics, UC Santa Cruz.
    4. Jeremy Greenwood & Juan M. Sanchez & Cheng Wang, 2009. "Financing development : the role of information costs," Working Paper 08-08, Federal Reserve Bank of Richmond.
    5. Zhixiong Zeng, 2007. "The price of size and financial market allocations," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 30(1), pages 21-48, January.
    6. Gambacorta, Leonardo & Huang, Yiping & Li, Zhenhua & Qiu, Han & Chen, Shu, 2020. "Data vs collateral," CEPR Discussion Papers 15262, C.E.P.R. Discussion Papers.
    7. Joshua Aizenman & Nancy P. Marion, 1999. "Uncertainty and the Disappearance of International Credit," NBER Working Papers 7389, National Bureau of Economic Research, Inc.
    8. John H. Boyd & Chun Chang & Bruce Smith, 1998. "Moral hazard under commercial and universal banking," Proceedings, Federal Reserve Bank of Cleveland, issue Aug, pages 426-471.
    9. Joydeep Bhattacharya, 1997. "Credit market imperfections, income distribution, and capital accumulation," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 11(1), pages 171-200.
    10. Zeng, Zhixiong, 2011. "A theory of the non-neutrality of money with banking frictions and bank recapitalization," MPRA Paper 33471, University Library of Munich, Germany.
    11. Bhagwan Chowdhry & Mark Grinblatt & David K Levine, 2001. "Information Aggregation, Currency Swaps, and the Design of Derivative Securities," Levine's Working Paper Archive 2106, David K. Levine.
    12. Aizenman, Joshua & Marion, Nancy, 2002. "Reserve Uncertainty and the Supply of International Credit," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 34(3), pages 631-649, August.
    13. Demirguc-Kunt,Asli & Horvath,Balint Laszlo & Huizinga,Harry P., 2016. "How does long-term finance affect economic volatility ?," Policy Research Working Paper Series 7535, The World Bank.
    14. David Okelue Ugwunta & Uche Boniface Ugwuanyi, 2019. "Insurance Development and Economic Growth: An Examination of the Non-Bank Financial Institutions in Nigeria," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 10(2), pages 16-26, April.
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    16. Leonardo Gambacorta & Yiping Huang & Zhenhua Li & Han Qiu & Shu Chen, 2023. "Data versus Collateral," Review of Finance, European Finance Association, vol. 27(2), pages 369-398.
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    19. Bougheas, Spiros & Mizen, Paul & Yalcin, Cihan, 2006. "Access to external finance: Theory and evidence on the impact of monetary policy and firm-specific characteristics," Journal of Banking & Finance, Elsevier, vol. 30(1), pages 199-227, January.
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    22. Boyd, John H. & Chang, Chun & Smith, Bruce D., 2002. "Deposit insurance: a reconsideration," Journal of Monetary Economics, Elsevier, vol. 49(6), pages 1235-1260, September.
    23. Aizenman, Joshua, 2005. "Ex ante carrots instead of ex post sticks: two examples," Santa Cruz Department of Economics, Working Paper Series qt22k9w6ck, Department of Economics, UC Santa Cruz.
    24. Marco A. Espinosa-Vega & Bruce Smith & Chong K. Yip, 2000. "Barriers to international capital flows: when, why, how big, and for whom?," FRB Atlanta Working Paper 2000-16, Federal Reserve Bank of Atlanta.
    25. Michel Robe, 2001. "What Can We Learn From Simulating a Standard Agency Model?," Computing in Economics and Finance 2001 98, Society for Computational Economics.
    26. Xiaoqiang Cheng & Hans Degryse, 2010. "The Impact of Bank and Non-Bank Financial Institutions on Local Economic Growth in China," Journal of Financial Services Research, Springer;Western Finance Association, vol. 37(2), pages 179-199, June.
    27. Smith, Bruce D. & Wang, Cheng, 1998. "Repeated insurance relationships in a costly state verification model: With an application to deposit insurance," Journal of Monetary Economics, Elsevier, vol. 42(2), pages 207-240, July.
    28. Marco Espinosa-Vega & Bruce D. Smith & Chong K. Yip, 1999. "On Government Credit Programs," Computing in Economics and Finance 1999 351, Society for Computational Economics.
    29. Alvaro Aguiar & Inês Drumond, 2007. "Monetary Policy Amplification Effects through a Bank Capital Channel," Money Macro and Finance (MMF) Research Group Conference 2006 47, Money Macro and Finance Research Group.
    30. Longhofer, Stanley D., 1997. "Absolute Priority Rule Violations, Credit Rationing, and Efficiency," Journal of Financial Intermediation, Elsevier, vol. 6(3), pages 249-267, July.
    31. Levine, Ross, 2005. "Finance and Growth: Theory and Evidence," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 12, pages 865-934, Elsevier.
    32. Neus Herranz, & Stefan Krasa, & Anne P. Villamil, 2013. "Entrepreneurs, Risk Aversion and Dynamic Firms," Centre for Growth and Business Cycle Research Discussion Paper Series 189, Economics, The University of Manchester.
    33. João Pinto & Mário Coutinho dos Santos, 2014. "Corporate Financing Choices after the 2007-2008 Financial Crisis," Working Papers de Economia (Economics Working Papers) 03, Católica Porto Business School, Universidade Católica Portuguesa.
    34. Harold L. Cole, 2008. "Self-Enforcing Stochastic Monitoring and the Separation of Debt and Equity Claims," PIER Working Paper Archive 08-025, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    35. Jeffrey Lacker, 2001. "Collateralized Debt as the Optimal Contract," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 4(4), pages 842-859, October.
    36. Miho Sunaga, 2015. "A Schumpeterian Growth Model with Financial Intermediaries," Discussion Papers in Economics and Business 15-19, Osaka University, Graduate School of Economics.
    37. Espinosa-Vega, Marco A. & Smith, Bruce D. & Yip, Chong K., 2002. "Monetary Policy and Government Credit Programs," Journal of Financial Intermediation, Elsevier, vol. 11(3), pages 232-268, July.
    38. Prescott, Edward Simpson, 2004. "Computing solutions to moral-hazard programs using the Dantzig-Wolfe decomposition algorithm," Journal of Economic Dynamics and Control, Elsevier, vol. 28(4), pages 777-800, January.
    39. Wang, Yong & Zhou, Hanqing, 2001. "Money and credit in liquidity provision," Journal of Banking & Finance, Elsevier, vol. 25(11), pages 2041-2067, November.
    40. Pavanini, Nicola & Ioannidou, Vasso & Peng, Yushi, 2019. "Collateral and Asymmetric Information in Lending Markets," CEPR Discussion Papers 13905, C.E.P.R. Discussion Papers.
    41. Eglantina Hysa & Mergleda Hodo, 2013. "A Historical Perspective of Economic and Financial Stability in South East Europe," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 2, October.
    42. Hvide, Hans K., 2005. "Optimal contracts under imperfect enforcement revisited," Discussion Papers 2005/4, Norwegian School of Economics, Department of Business and Management Science.
    43. Neus Herranz & Stefan Krasa & Anne P. Villamil, 2017. "Entrepreneurs, legal institutions and firm dynamics," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 63(1), pages 263-285, January.
    44. Edward Simpson Prescott, 1999. "A primer on moral-hazard models," Economic Quarterly, Federal Reserve Bank of Richmond, issue Win, pages 47-78.
    45. Davide Iacoboni & Alberto Zazzaro, 2000. "Legal system efficiency, information production, and technological choice: a banking model," Heterogeneity and monetary policy 0005, Universita di Modena e Reggio Emilia, Dipartimento di Economia Politica.
    46. Agenor, Pierre-Richard & Aizenman, Joshua, 2006. "Investment and deposit contracts under costly intermediation and aggregate volatility," International Review of Economics & Finance, Elsevier, vol. 15(3), pages 263-275.
    47. Elizabeth Asiedu & Yi Jin & Anne Villamil, 2006. "Do lack of transparency and enforcement undermine international risk-sharing?," Annals of Finance, Springer, vol. 2(2), pages 123-140, March.
    48. Marco A. Espinosa-Vega & Bruce Smith & Chong K. Yip, 1999. "Barriers to international capital flows: who should erect them and how big should they be?," FRB Atlanta Working Paper 99-6, Federal Reserve Bank of Atlanta.
    49. Anne Villamil & Stefan Krasa & Tridib Sharma, 2004. "Enforcement and Firm Finance," 2004 Meeting Papers 868, Society for Economic Dynamics.
    50. Cyril Monnet & Erwan Quintin, 2005. "Optimal contracts in a dynamic costly state verification model," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 26(4), pages 867-885, November.
    51. Xu Bin, 1998. "Costly Monitoring in Financial Markets and Capital Outflow Restrictions," International Economic Journal, Taylor & Francis Journals, vol. 12(2), pages 117-136.
    52. Persons, John C., 1997. "Liars Never Prosper? How Management Misrepresentation Reduces Monitoring Costs," Journal of Financial Intermediation, Elsevier, vol. 6(4), pages 269-306, October.
    53. Stefan Krasa & Tridib Sharma & Anne Villamil, 2008. "Bankruptcy and firm finance," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 36(2), pages 239-266, August.
    54. Yong Wang, 1999. "Asymmetric Information and Demand for Money in an Overlapping Generations Economy," Southern Economic Journal, John Wiley & Sons, vol. 66(2), pages 403-413, October.
    55. Zsuzsanna Fluck & Kedran Garrison & Stewart C. Myers, 2005. "Venture Capital Contracting and Syndication: An Experiment in Computational Corporate Finance," NBER Working Papers 11624, National Bureau of Economic Research, Inc.
    56. Gaia Garino & Peter Simmons, 2006. "Costly State Verification with Varying Risk Preferences and Liability," Journal of Economic Surveys, Wiley Blackwell, vol. 20(1), pages 71-110, February.
    57. Bhattacharya, Joydeep, 2003. "Monetary policy and the distribution of income," ISU General Staff Papers 200304220700001192, Iowa State University, Department of Economics.
    58. Spiros Bougheas & Paul Mizen & Cihan Yalcin, 2004. "Access to External Finance : Theory and Evidence on the Impact of Firm-Specific Characteristics," Working Papers 0406, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    59. Ioannidou, Vasso & Pavanini, Nicola & Peng, Yushi, 2022. "Collateral and asymmetric information in lending markets," Journal of Financial Economics, Elsevier, vol. 144(1), pages 93-121.
    60. Khan, Aubhik, 2001. "Financial Development And Economic Growth," Macroeconomic Dynamics, Cambridge University Press, vol. 5(3), pages 413-433, June.
    61. Bénédicte Coestier & Nathalie Fombaron, 2003. "L'audit en assurance," THEMA Working Papers 2003-41, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    62. Ying Yan, 1997. "Credit rationing, bankruptcy cost, and the optimal debt contract for small business," Working Papers (Old Series) 9702, Federal Reserve Bank of Cleveland.
    63. Ma, Chien-Hui & Smith, Bruce D., 1996. "Credit market imperfections and economic development: Theory and evidence," Journal of Development Economics, Elsevier, vol. 48(2), pages 351-387, March.
    64. Fachat, Christian, 2000. "Agency Costs, Net Worth, and the Credit Channel of Monetary Transmission," Bonn Econ Discussion Papers 3/2000, University of Bonn, Bonn Graduate School of Economics (BGSE).
    65. Marco A. Espinosa-Vega & Bruce Smith, 2001. "Socially excessive bankruptcy costs and the benefits of interest rate ceilings on loans," FRB Atlanta Working Paper 2001-27, Federal Reserve Bank of Atlanta.
    66. Yi Jin & Zhixiong Zeng, 2011. "The Financial and Macroeconomic Implications of Banking Frictions and Banking Riskiness," Monash Economics Working Papers 14-11, Monash University, Department of Economics.
    67. A. Penalver, 2014. "Pre-crisis credit standards: monetary policy or the savings glut?," Working papers 519, Banque de France.
    68. John H. Boyd & Bruce Smith, 1996. "The use of debt and equity in optimal financial contracts," Working Papers 537, Federal Reserve Bank of Minneapolis.
    69. Ludovic Renou, 2008. "Multi-lender coalitions in costly state verification models," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 36(3), pages 407-433, September.
    70. Stanley D. Longhofer, 1997. "Absolute priority rule violations, credit rationing, and efficiency," Working Papers (Old Series) 9710, Federal Reserve Bank of Cleveland.

  66. Azariadis Costas & Smith Bruce D., 1993. "Adverse Selection in the Overlapping Generations Model: The Case of Pure Exchange," Journal of Economic Theory, Elsevier, vol. 60(2), pages 277-305, August.

    Cited by:

    1. Mukherji, Nivedita, 1998. "Inflation and Risky Investment in an Economy with Asymmetric Information and Monopolistic Loans Markets," Journal of Macroeconomics, Elsevier, vol. 20(1), pages 107-132, January.
    2. Alberto Martin & Jaume Ventura, 2017. "The macroeconomics of rational bubbles: a user's guide," Economics Working Papers 1581, Department of Economics and Business, Universitat Pompeu Fabra, revised Feb 2018.
    3. Basco, Sergi, 2016. "Switching bubbles: From Outside to Inside Bubbles," European Economic Review, Elsevier, vol. 87(C), pages 236-255.
    4. Amartya Lahiri & Mikko Puhakka, 1996. "Habit Persistence in Overlapping Generations Economies Under Pure Exchange," UCLA Economics Working Papers 754, UCLA Department of Economics.
    5. Alberto Martin & Jaume Ventura, 2011. "Theoretical Notes on Bubbles and the Current Crisis," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 59(1), pages 6-40, April.
    6. Dimitrios P Tsomocos & Gunnar Bardsen & Department of Economics & NTNUKjersti-Gro Lindquist & Norges Bank, 2006. "Evaluation of macroeconomic models for financial stability analysis," Economics Series Working Papers 2006-FE-01, University of Oxford, Department of Economics.
    7. Bose, Niloy, 2005. "Endogenous growth and the emergence of equity finance," Journal of Development Economics, Elsevier, vol. 77(1), pages 173-188, June.
    8. John Fender & Ping Wang, 2000. "Educational Policy and Skill Heterogeneity with Credit Market Imperfections," Vanderbilt University Department of Economics Working Papers 0021, Vanderbilt University Department of Economics.
    9. Jia, Pengfei & Lim, King Yoong, 2018. "Tax Policy and Toxic Housing Bubbles in China," MPRA Paper 86576, University Library of Munich, Germany.
    10. Reichlin, Pietro & Siconolfi, Paolo, 1996. "The role of social security in an economy with asymmetric information and financial intermediaries," Journal of Public Economics, Elsevier, vol. 60(2), pages 153-175, May.
    11. Giorgio Di Giorgio, 1996. "Social security and equity investment in an economy with financial intermediaries and costly monitoring," Working Papers in Public Economics 13, University of Rome La Sapienza, Department of Economics and Law.
    12. Kunieda, Takuma, 2008. "Finance and Growth Cycles," MPRA Paper 11340, University Library of Munich, Germany.
    13. Jaume Ventura & Alberto Martín, 2010. "Economic Growth with Bubbles," Working Papers 445, Barcelona School of Economics.
    14. Giorgio Di Giorgio, 1999. "Financial intermediation and equity investment with costly monitoring," Economics Working Papers 410, Department of Economics and Business, Universitat Pompeu Fabra.
    15. John Fender & Ping Wang, 2003. "Educational Policy in a Credit Constrained Economy with Skill Heterogeneity," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 44(3), pages 939-964, August.
    16. Wai‐Hong Ho & Yong Wang, 2005. "Public capital, asymmetric information, and economic growth," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 38(1), pages 57-80, February.
    17. Xavier Freixas, 2018. "Credit Growth, Rational Bubbles and Economic Efficiency," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 60(1), pages 87-104, March.
    18. Lisi Shi & Richard M. H. Suen, 2014. "The Macroeconomic Consequences of Asset Bubbles and Crashes," Working papers 2014-14, University of Connecticut, Department of Economics.
    19. Banerji, Sanjay & Basu, Parantap, 2015. "Borrower's moral hazard, risk premium, and welfare: A comparison of universal and stand-alone banking systems," The Journal of Economic Asymmetries, Elsevier, vol. 12(1), pages 61-72.
    20. Fender, John, 2005. "Self employment, education and credit constraints: A model of interdependent credit rationing decisions," Journal of Macroeconomics, Elsevier, vol. 27(1), pages 31-51, March.
    21. Wang, Yong & Zhou, Hanqing, 2001. "Money and credit in liquidity provision," Journal of Banking & Finance, Elsevier, vol. 25(11), pages 2041-2067, November.
    22. Basco, Sergi, 2014. "Globalization and financial development: A model of the Dot-Com and the Housing Bubbles," Journal of International Economics, Elsevier, vol. 92(1), pages 78-94.
    23. Wai-Hong Ho & Yong Wang, 2005. "Public capital, asymmetric information, and economic growth," Canadian Journal of Economics, Canadian Economics Association, vol. 38(1), pages 57-80, February.
    24. Etro, Federico, 2017. "Research in economics and macroeconomics," Research in Economics, Elsevier, vol. 71(3), pages 373-383.
    25. Michau, Jean-Baptiste & Ono, Yoshiyasu & Schlegl, Matthias, 2023. "Wealth preference and rational bubbles," European Economic Review, Elsevier, vol. 156(C).
    26. Gokmen, Gunes & Morin, Annaig, 2021. "Investment shocks and inequality dynamics," Economic Modelling, Elsevier, vol. 94(C), pages 570-579.
    27. Keith Blackburn & Niloy Bosey & Salvatore Capasso, 2010. "Tax Evasion, the Underground Economy and Financial Development," Centre for Growth and Business Cycle Research Discussion Paper Series 138, Economics, The University of Manchester.
    28. Pertti Haaparanta & Mikko Puhakka, 1997. "Budget deficits and the feasibility of credit market reform," Finnish Economic Papers, Finnish Economic Association, vol. 10(1), pages 35-46, Spring.
    29. Banerji, Sanjay & Basu, Parantap, 2017. "Universal banking, asymmetric information and the stock market," Economic Modelling, Elsevier, vol. 60(C), pages 180-193.
    30. Been-Lon Chen & Yeong-Yuh Chiang & Ping Wang, 2000. "Credit Market Imperfections, Financial Activity and Economic Growth," Vanderbilt University Department of Economics Working Papers 0020, Vanderbilt University Department of Economics.
    31. Niloy Bose & Maria Pereira, 2004. "The Evolution of the Financial Contract in Economic Development," Manchester School, University of Manchester, vol. 72(2), pages 206-220, March.
    32. Roell, Ailsa & Sussman, Oren, 1997. "Stabilization," European Economic Review, Elsevier, vol. 41(2), pages 279-293, February.
    33. Yong Wang, 1999. "Asymmetric Information and Demand for Money in an Overlapping Generations Economy," Southern Economic Journal, John Wiley & Sons, vol. 66(2), pages 403-413, October.
    34. Hidalgo-Cabrillana, Ana, 2004. "Does asymmetric information promote talented people?," UC3M Working papers. Economics we042809, Universidad Carlos III de Madrid. Departamento de Economía.
    35. Plehn-Dujowich, Jose M., 2009. "Endogenous growth and adverse selection in entrepreneurship," Journal of Economic Dynamics and Control, Elsevier, vol. 33(7), pages 1419-1436, July.
    36. Sanjay Banerjee & Parantap Basu, 2005. "Uninsured Risks, Loan Contracts and the Declining Equity Premium," CDMA Conference Paper Series 0502, Centre for Dynamic Macroeconomic Analysis.
    37. Been-Lon Chen & Yeong-Yuh Chiang & Ping Wang, 2008. "Credit Market Imperfections and Long-Run Macroeconomic Consequences," Annals of Economics and Finance, Society for AEF, vol. 9(1), pages 151-175, May.
    38. Azariadis, Costas & Choi, Kyoung Jin, 2013. "Credit crunches as markov equilibria," Journal of Macroeconomics, Elsevier, vol. 38(PA), pages 2-11.
    39. Di Giorgio, Giorgio, 2002. "Financial intermediation and capital investment with costly monitoring," International Review of Economics & Finance, Elsevier, vol. 11(1), pages 27-43, April.
    40. Azariadis, Costas & Smith, Bruce, 1999. "Adverse selection in a neoclassical growth model," The North American Journal of Economics and Finance, Elsevier, vol. 10(2), pages 339-361.
    41. Pighi Braila & Francesco Magris, 2000. "Money and Credit in a Production Economy," CSEF Working Papers 46, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
    42. Akiomi Kitagawa, 2001. "Does Money Always Make People Happy?," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 4(2), pages 495-515, July.

  67. Boyd, John H & Smith, Bruce D, 1993. "The Equilibrium Allocation of Investment Capital in the Presence of Adverse Selection and Costly State Verification," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 3(3), pages 427-451, July.
    See citations under working paper version above.
  68. Bencivenga, Valerie R. & Smith, Bruce D., 1993. "Some consequences of credit rationing in an endogenous growth model," Journal of Economic Dynamics and Control, Elsevier, vol. 17(1-2), pages 97-122.
    See citations under working paper version above.
  69. Cooley, Thomas F & Smith, Bruce D, 1993. "A Theory of Optimal Denominations for Government Liabilities," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 3(4), pages 597-623, October.

    Cited by:

    1. Smith, B.D. & Villamil, A.P., 1991. "Government Borrowing using Bonds with Randomly Determined Returns : Welfare Improving Randomization in the Context of Deficit Finance," RCER Working Papers 287, University of Rochester - Center for Economic Research (RCER).
    2. Gomis-Porqueras, Pere, 2001. "When Should Bank Regulation Favor the Wealthy?," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 327-337, July.

  70. Arthur J. Rolnick & Bruce Smith & Warren E. Weber, 1993. "In order to form a more perfect monetary union," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 17(Fall), pages 2-13.

    Cited by:

    1. Grubb, Farley, 2004. "The circulating medium of exchange in colonial Pennsylvania, 1729-1775: new estimates of monetary composition, performance, and economic growth," Explorations in Economic History, Elsevier, vol. 41(4), pages 329-360, October.
    2. Peter L. Rousseau, 2009. "Monetary Policy and the Dollar," NBER Working Papers 14993, National Bureau of Economic Research, Inc.
    3. Russell W. Cooper & Hubert Kempf, 2000. "Designing stabilization policy in a monetary union," Working Papers (Old Series) 0001, Federal Reserve Bank of Cleveland.
    4. Barry Eichengreen, 2008. "Sui Generis EMU," European Economy - Economic Papers 2008 - 2015 303, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
    5. Hugh Rockoff, 1999. "How Long Did It Take the United States to Become an Optimal Currency Area?," Departmental Working Papers 199910, Rutgers University, Department of Economics.
    6. Farley Grubb, 2003. "Creating the U.S. Dollar Currency Union, 1748–1811: A Quest for Monetary Stability or a Usurpation of State Sovereignty for Personal Gain?," American Economic Review, American Economic Association, vol. 93(5), pages 1778-1798, December.

  71. Boyd, John H. & Smith, Bruce D., 1992. "Intermediation and the equilibrium allocation of investment capital : Implications for economic development," Journal of Monetary Economics, Elsevier, vol. 30(3), pages 409-432, December.

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    1. Elena Ketteni & Constantina Kottaridi & Theofanis Mamuneas, 2015. "Information and communication technology and foreign direct investment: interactions and contributions to economic growth," Empirical Economics, Springer, vol. 48(4), pages 1525-1539, June.
    2. Maria Fuensanta Morales, 2000. "Financial Intermediation in a Model of Growth Through Creative Destruction," Econometric Society World Congress 2000 Contributed Papers 0914, Econometric Society.
    3. Silvia Gómez Soler, 2012. "Organized Crime, Foreign Investment and Economic Growth," Revista Economía y Región, Universidad Tecnológica de Bolívar, vol. 6(2), pages 5-32, December.
    4. Moral-Benito, Enrique & Roehn, Oliver, 2016. "The impact of financial regulation on current account balances," European Economic Review, Elsevier, vol. 81(C), pages 148-166.
    5. Folorunso S. Ayadi, 2010. "Sectoral analysis of Foreign Direct Investment and economic growth in Nigeria," International Journal of Trade and Global Markets, Inderscience Enterprises Ltd, vol. 3(4), pages 327-340.
    6. Belloumi, Mounir, 2012. "The relationship between Trade, FDI and Economic growth in Tunisia: An application of autoregressive distributed lag model," Conference papers 332240, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    7. Edward Simpson Prescott, 1997. "Group lending and financial intermediation: an example," Economic Quarterly, Federal Reserve Bank of Richmond, issue Fall, pages 23-48.
    8. Arjana Brezigar-Masten & Fabrizio Coricelli & Igor Masten, 2008. "Non-linear growth effects of financial development: Does financial integration matter?," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00634188, HAL.
    9. Rosemary Stanley Taylor, 2020. "Foreign direct investment and economic growth. Analysis of sectoral foreign direct investment in Tanzania," African Development Review, African Development Bank, vol. 32(4), pages 699-717, December.
    10. Duasa, Jarita & Kassim, Salina, 2008. "Hot money and economic performance: An empirical analysis," MPRA Paper 12470, University Library of Munich, Germany.
    11. Zahra Zamani & Seyed Komail Tayebi, 2022. "Spillover effects of trade and foreign direct investment on economic growth: an implication for sustainable development," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(3), pages 3967-3981, March.
    12. Tobias Broer, 2004. "Emerging Market Lending: Is Moral Hazard Endogenous?," Working Papers Central Bank of Chile 273, Central Bank of Chile.
    13. Alessandro Giovannini & Maurizio Iacopetta & Raoul Minetti, 2013. "Financial Markets, Banks, and Growth : Disentangling the links," Post-Print halshs-01948038, HAL.
    14. Guangdong Xu, 2022. "From financial structure to economic growth: Theory, evidence and challenges," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 51(1), February.
    15. David Okelue Ugwunta & Uche Boniface Ugwuanyi, 2019. "Insurance Development and Economic Growth: An Examination of the Non-Bank Financial Institutions in Nigeria," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 10(2), pages 16-26, April.
    16. Almeida, Heitor & Wolfenzon, Daniel, 2005. "The effect of external finance on the equilibrium allocation of capital," Journal of Financial Economics, Elsevier, vol. 75(1), pages 133-164, January.
    17. J. Benson Durham, 2003. "Foreign portfolio investment, foreign bank lending, and economic growth," International Finance Discussion Papers 757, Board of Governors of the Federal Reserve System (U.S.).
    18. Dias, Daniel A. & Robalo Marques, Carlos & Richmond, Christine, 2016. "Misallocation and productivity in the lead up to the Eurozone crisis," Journal of Macroeconomics, Elsevier, vol. 49(C), pages 46-70.
    19. Edison, Hali J. & Levine, Ross & Ricci, Luca & Slok, Torsten, 2002. "International financial integration and economic growth," Journal of International Money and Finance, Elsevier, vol. 21(6), pages 749-776, November.
    20. Xiaoqiang Cheng & Hans Degryse, 2010. "The Impact of Bank and Non-Bank Financial Institutions on Local Economic Growth in China," Journal of Financial Services Research, Springer;Western Finance Association, vol. 37(2), pages 179-199, June.
    21. Magloire LANHA, 2022. "Les institutions influencent-elles la relation," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 55, pages 5-22.
    22. Sahar Nasr, 2004. "Financial Leasing In MENA Region: An Analysis of Financial, Legal And Institutional Aspects," Working Papers 0424, Economic Research Forum, revised Nov 2004.
    23. Lee, Chien-Chiang & Chen, Mei-Ping & Chang, Chi-Hung, 2014. "Industry co-movement and cross-listing: Do home country factors matter?," Japan and the World Economy, Elsevier, vol. 32(C), pages 96-110.
    24. Stavarek, Daniel & Repkova, Iveta & Gajdosova, Katarina, 2011. "Theory of financial integration and achievements in the European Union," MPRA Paper 34393, University Library of Munich, Germany.
    25. Richard Gardiner & Petr Hajek, 2020. "Interactions among energy consumption, CO2, and economic development in European Union countries," Sustainable Development, John Wiley & Sons, Ltd., vol. 28(4), pages 723-740, July.
    26. Li, Yarui & Woodard, Joshua D. & Leatham, David J., 2013. "Causality among Foreign Direct Investment and Economic Growth: A Directed Acyclic Graph Approach," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 45(4), pages 1-20, November.
    27. Victor Yotzov, 2020. "Foreign Direct Investments and Economic Growth in Bulgaria: Theoretical Challenges and Empirical Results," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 3-27.
    28. Singh, Vikkram & Roca, Eduardo & Li, Bin, 2021. "Effectiveness of policy interventions during financial crises in China and Russia: Lessons for the COVID-19 pandemic," Journal of Policy Modeling, Elsevier, vol. 43(2), pages 253-277.
    29. Koptyug, Nikita & Persson, Lars & Tåg, Joacim, 2019. "Should We Worry about the Decline of the Public Corporation? A Brief Survey of the Economics and External Effects of the Stock Market," Working Paper Series 1298, Research Institute of Industrial Economics.
    30. Monnet Benoît Patrick Gbakou & Mustapha Sadni Jallab & René Sandretto, 2008. "Foreign Direct Investment, Macroeconomic Instability And Economic Growth in MENA Countries," Post-Print halshs-00303694, HAL.
    31. Levine, Ross, 2005. "Finance and Growth: Theory and Evidence," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 12, pages 865-934, Elsevier.
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  72. Bencivenga, Valerie R & Smith, Bruce D, 1992. "Deficits, Inflation, and the Banking System in Developing Countries: The Optimal Degree of Financial Repression," Oxford Economic Papers, Oxford University Press, vol. 44(4), pages 767-790, October.
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  73. Smith, Bruce D, 1991. "Bank Panics, Suspensions, and Geography: Some Notes on the "Contagion of Fear" in Banking," Economic Inquiry, Western Economic Association International, vol. 29(2), pages 230-248, April.

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    1. Edward J. Stevens, 1991. "Is there any rationale for reserve requirements?," Economic Review, Federal Reserve Bank of Cleveland, vol. 27(Q III), pages 2-17.
    2. Uhlig, Harald, 2010. "A model of a systemic bank run," Journal of Monetary Economics, Elsevier, vol. 57(1), pages 78-96, January.
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    5. Yang, Hsin-Feng & Liu, Chih-Liang & Chou, Ray Yeutien, 2014. "Interest rate risk propagation: Evidence from the credit crunch," The North American Journal of Economics and Finance, Elsevier, vol. 28(C), pages 242-264.
    6. William C. Hunter & David A. Marshall, 1999. "Thoughts on financial derivatives, systematic risk, and central banking: a review of some recent developments," Working Paper Series WP-99-20, Federal Reserve Bank of Chicago.
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    9. Henrich R. Greve & Ji-Yub (Jay) Kim, 2014. "Running for the Exit: Community Cohesion and Bank Panics," Organization Science, INFORMS, vol. 25(1), pages 204-221, February.
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    12. Committee, Nobel Prize, 2022. "Financial Intermediation and the Economy," Nobel Prize in Economics documents 2022-2, Nobel Prize Committee.
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    14. Mathieu Bédard, 2016. "In Which Context is the Option Clause Desirable?," Journal of Business Ethics, Springer, vol. 139(2), pages 287-297, December.
    15. Raphael Solomon, 2004. "When Bad Things Happen to Good Banks: Contagious Bank Runs and Currency Crises," Staff Working Papers 04-18, Bank of Canada.

  74. Bruce D. Smith, 1991. "Interest on Reserves and Sunspot Equilibria: Friedman's Proposal Reconsidered," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(1), pages 93-105.
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  75. Valerie R. Bencivenga & Bruce D. Smith, 1991. "Financial Intermediation and Endogenous Growth," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(2), pages 195-209.
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  76. Smith, Bruce D & Stutzer, Michael J, 1990. "Adverse Selection, Aggregate Uncertainty, and the Role for Mutual Insurance Contracts," The Journal of Business, University of Chicago Press, vol. 63(4), pages 493-510, October.

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    1. Seog S. Hun, 2006. "Limited Competition, Information Asymmetry, and Organizational Forms," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 1(2), pages 1-14, February.
    2. Qiming Wang & James A. Ligon, 2009. "The Underpricing of Insurance IPOs," Financial Management, Financial Management Association International, vol. 38(2), pages 301-322, June.
    3. Francesca Barigozzi & Renaud Bourlès & Dominique Henriet & Giuseppe Pignataro, 2017. "Pool size and the sustainability of optimal risk-sharing agreements," Theory and Decision, Springer, vol. 82(2), pages 273-303, February.
    4. Louis Lévy-Garboua & Claude Montmarquette & Jonathan Vaksmann & Marie-Claire Villeval, 2017. "Voluntary Contributions to a Mutual Insurance Pool," PSE-Ecole d'économie de Paris (Postprint) hal-01476440, HAL.
    5. Michael K. McShane & Larry A. Cox, 2009. "Issuance Decisions and Strategic Focus: The Case of Long‐Term Care Insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 76(1), pages 87-108, March.
    6. Neil A. Doherty & Harris Schlesinger, 1992. "Insurance Markets with Noisy Loss Distributions," CESifo Working Paper Series 22, CESifo.
    7. Dana A. Kerr, 2005. "The Effect of Ownership Structure on Insurance Company Litigation Strategy," The Journal of Legal Studies, University of Chicago Press, vol. 34(1), pages 273-294, January.
    8. Laux, Christian & Muermann, Alexander, 2006. "Mutual versus stock insurers: Fair premium, capital, and solvency," CFS Working Paper Series 2006/26, Center for Financial Studies (CFS).
    9. Chris O'Brien, 2006. "The Downfall of Equitable Life in the United Kingdom: The Mismatch of Strategy and Risk Management," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 9(2), pages 189-204, September.
    10. Nathalie Fombaron & Georges Dionne & Wanda Mimra, 2023. "Adverse Sélection in Insurance," Post-Print hal-04416340, HAL.
    11. Braun, Alexander & Schmeiser, Hato & Rymaszewski, Przemysław, 2015. "Stock vs. mutual insurers: Who should and who does charge more?," European Journal of Operational Research, Elsevier, vol. 242(3), pages 875-889.
    12. Benjamin A. Abugri & Theophilus T. Osah, 2021. "Derivative use, ownership structure and lending activities of US banks," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 45(1), pages 146-170, January.
    13. Bourlès, Renaud, 2007. "On the Emergence of Private Insurance in Presence of Mutual Agreements," MPRA Paper 5821, University Library of Munich, Germany.
    14. Eric Stephens & James R. Thompson, 2015. "Separation Without Exclusion in Financial Insurance," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 82(4), pages 853-864, December.
    15. Laux, Christian & Muermann, Alexander, 2010. "Financing risk transfer under governance problems: Mutual versus stock insurers," Journal of Financial Intermediation, Elsevier, vol. 19(3), pages 333-354, July.
    16. Lisa L. Posey & Paul D. Thistle, 2017. "Automobile Insurance and Driver Ability: Contract Choice as a Screening Mechanism," The Geneva Risk and Insurance Review, Palgrave Macmillan;International Association for the Study of Insurance Economics (The Geneva Association), vol. 42(2), pages 141-170, September.
    17. Lisa L. Posey & Paul D. Thistle, 2017. "Automobile Insurance and Driver Ability: Contract Choice as a Screening Mechanism," The Geneva Papers on Risk and Insurance Theory, Springer;International Association for the Study of Insurance Economics (The Geneva Association), vol. 42(2), pages 141-170, September.
    18. Pierre Picard, 2009. "Participating insurance contracts and the Rothschild-Stiglitz equilibrium puzzle," Working Papers hal-00413825, HAL.
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    22. Magnus Lindmark & Lars-Fredrik Andersson & Mike Adams, 2006. "The Evolution and Development of the Swedish Insurance Market," Accounting History Review, Taylor & Francis Journals, vol. 16(3), pages 341-370.
    23. Eling, Martin & Jia, Ruo & Yao, Yi, 2014. "Between-Group Adverse Selection: Evidence from Group Critical Illness Insurance," Working Papers on Finance 1403, University of St. Gallen, School of Finance, revised Oct 2014.
    24. Yan, Jia & Liu, John J. & Li, Kevin X., 2008. "Threshold control of mutual insurance with limited commitment," Insurance: Mathematics and Economics, Elsevier, vol. 43(1), pages 108-115, August.
    25. Grillet, Luc L., 1992. "Markets, hierarchies, and hybrids in corporate insurance," Discussion Papers, Series II 173, University of Konstanz, Collaborative Research Centre (SFB) 178 "Internationalization of the Economy".
    26. Georges Dionne & Nathalie Fombaron & Neil Doherty, 2012. "Adverse Selection in Insurance Contracting," Cahiers de recherche 1231, CIRPEE.

  77. Smith, Bruce D. & Stutzer, Michael J., 1990. "Adverse selection and mutuality: The case of the farm credit system," Journal of Financial Intermediation, Elsevier, vol. 1(2), pages 125-149, June.

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    1. Angelini, P. & Di Salvo, R. & Ferri, G., 1998. "Availability and cost of credit for small businesses: Customer relationships and credit cooperatives," Journal of Banking & Finance, Elsevier, vol. 22(6-8), pages 925-954, August.
    2. Turvey, Calum G. & Ifft, Jennifer E. & Carduner, Amy, 2018. "The historical relationship between the U.S. Farm Credit System, Farm Service Agency and commercial bank lending," 2018 Annual Meeting, August 5-7, Washington, D.C. 274120, Agricultural and Applied Economics Association.
    3. Gian Paolo Barbetta & Luca Colombo & Stefano Colombo & Michele Grillo, 2016. "Intra-competitiveness and inter-competitiveness among mutual banks: the case of Trento," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 63(3), pages 195-214, September.
    4. Hueth, Brent M. & Hutchins, Jared, 2018. "Production Credit Associations and Agricultural Productivity Change in the United States, 1920-1940," 2018 Annual Meeting, August 5-7, Washington, D.C. 274384, Agricultural and Applied Economics Association.
    5. Carlos E. Cuevas & Klaus P. Fischer, 2006. "Cooperative Financial Institutions : Issues in Governance, Regulation, and Supervision," World Bank Publications - Books, The World Bank Group, number 7107, December.
    6. Nitani, Miwako & Legendre, Nicolas, 2021. "Cooperative lenders and the performance of small business loans," Journal of Banking & Finance, Elsevier, vol. 128(C).
    7. Jared Hutchins, 2023. "The US farm credit system and agricultural development: Evidence from an early expansion, 1920–1940," American Journal of Agricultural Economics, John Wiley & Sons, vol. 105(1), pages 3-26, January.

  78. Bruce D. Smith & Michael J. Stutzer, 1989. "Credit Rationing and Government Loan Programs: A Welfare Analysis," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 17(2), pages 177-193, June.

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    1. Uesugi, Iichiro & Sakai, Koji & Yamashiro, Guy M., 2010. "The Effectiveness of Public Credit Guarantees in the Japanese Loan Market," Journal of the Japanese and International Economies, Elsevier, vol. 24(4), pages 457-480, December.
    2. Türkmen Göksel & Barchynai Kimsanova, 2016. "Liquidity Constraints, Interest Rates and Optimal Credit Subsidies," Bogazici Journal, Review of Social, Economic and Administrative Studies, Bogazici University, Department of Economics, vol. 30(2), pages 1-9.
    3. Kartik B. Athreya & Xuan S. Tam & Eric Young, 2011. "Loan guarantees for consumer credit markets," Working Paper 11-06, Federal Reserve Bank of Richmond.
    4. Jeffrey M. Lacker, 1994. "Does adverse selection justify government intervention in loan markets?," Economic Quarterly, Federal Reserve Bank of Richmond, issue Win, pages 61-95.
    5. Marco Espinosa-Vega & Bruce D. Smith & Chong K. Yip, 1999. "On Government Credit Programs," Computing in Economics and Finance 1999 351, Society for Computational Economics.
    6. Longhofer, Stanley D., 1997. "Absolute Priority Rule Violations, Credit Rationing, and Efficiency," Journal of Financial Intermediation, Elsevier, vol. 6(3), pages 249-267, July.
    7. Antonio Antunes & Tiago Cavalcanti & Anne Villamil, 2012. "The Effects of Credit Subsidies on Development," Centre for Growth and Business Cycle Research Discussion Paper Series 176, Economics, The University of Manchester.
    8. James D. Hamilton, 2013. "Off-Balance-Sheet Federal Liabilities," NBER Working Papers 19253, National Bureau of Economic Research, Inc.
    9. William G. Gale, 1990. "Collateral, Rationing, and Government Intervention in Credit Markets," NBER Chapters, in: Asymmetric Information, Corporate Finance, and Investment, pages 43-62, National Bureau of Economic Research, Inc.
    10. Karla Hoff & Andrew B. Lyon, 1994. "Non-Leaky Buckets: Optimal Redistributive Taxation and Agency Costs," NBER Working Papers 4652, National Bureau of Economic Research, Inc.
    11. Yu-Lin Wang & Chien-Hui Lee & Po-Sheng Ko, 2020. "Do Loan Guarantees Alleviate Credit Rationing and Improve Economic Welfare?," Sustainability, MDPI, vol. 12(9), pages 1-16, May.
    12. Iichiro Uesugi & Koji Sakai & Guy M. Yamashiro, 2006. "Effectiveness of Credit Guarantees in the Japanese Loan Market," Discussion papers 06004, Research Institute of Economy, Trade and Industry (RIETI).
    13. Espinosa-Vega, Marco A. & Smith, Bruce D. & Yip, Chong K., 2002. "Monetary Policy and Government Credit Programs," Journal of Financial Intermediation, Elsevier, vol. 11(3), pages 232-268, July.
    14. Alberto Martin & Sergio Mayordomo & Victoria Vanasco, 2023. "Banks vs. Firms: Who Benefits from Credit Guarantees?," Working Papers 1389, Barcelona School of Economics.
    15. Karel Janda, 2008. "Which Government Interventions Are Good in Alleviating Credit Market Failures?," Working Papers IES 2008/12, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Jul 2008.
    16. Deborah Lucas, 2016. "Credit Policy as Fiscal Policy," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 47(1 (Spring), pages 1-57.
    17. Grazia Rapisarda & Eleonora Patacchini & University of Southampton, 2003. "A Study of the Effectiveness of Credit Subsidies: Evidence from a Panel of Italian Firms," Economics Series Working Papers 153, University of Oxford, Department of Economics.
    18. Anginer, Deniz & de la Torre, Augusto & Ize, Alain, 2014. "Risk-bearing by the state: When is it good public policy?," Journal of Financial Stability, Elsevier, vol. 10(C), pages 76-86.
    19. Karel Janda, 2011. "Credit Rationing and Public Support of Commercial Credit," CERGE-EI Working Papers wp436, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
    20. Guo, Jang-Ting & Hung, Fu-Sheng, 2020. "Tax evasion and financial development under asymmetric information in credit markets," Journal of Development Economics, Elsevier, vol. 145(C).
    21. Li, Wenli, 2002. "Entrepreneurship and government subsidies: A general equilibrium analysis," Journal of Economic Dynamics and Control, Elsevier, vol. 26(11), pages 1815-1844, September.
    22. Karel Janda, 2011. "Credit Guarantees and Subsidies when Lender has a Market Power," Working Papers IES 2011/18, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Jun 2011.
    23. Rajalaxmi Kamath, 2006. "Public inputs and the credit market," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 13(6), pages 733-753, November.
    24. Iichiro Uesugi, 2008. "Efficiency of Credit Allocation and Effectiveness of Government Credit Guarantees: Evidence from Japanese Small Businesses," Bank of Japan Working Paper Series 08-E-2, Bank of Japan.
    25. Karel Janda, 2005. "The Quantitative and Qualitative Analysis of the Budget Cost of the Czech Supporting and Guarantee Agricultural and Forestry Fund," Working Papers IES 86, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised 2005.
    26. Eduardo FERNANDEZ-ARIAS & Jiajun XU, 2020. "Effective development banking: loans or guarantees?," Working Paper 2fcdfcfb-d113-44d8-9e02-6, Agence française de développement.
    27. Tuan-Minh Dinh & Edmund Malesky & Trung-Thanh To & Duc-Thanh Nguyen, 2013. "Effect of Interest Rate Subsidies on Firm Performance and Investment Behavior during Economic Recession: Evidence from Vietnam," Asian Economic Journal, East Asian Economic Association, vol. 27(2), pages 185-207, June.
    28. Karel Janda, 2003. "Credit guarantees in a credit market with adverse selection," Prague Economic Papers, Prague University of Economics and Business, vol. 2003(4), pages 331-349.
    29. Eduardo FERNANDEZ-ARIAS & Jiajun XU, 2020. "Pour une banque de développement efficace : prêts ou garanties ?," Working Paper 2fcdfcfb-d113-44d8-9e02-6, Agence française de développement.
    30. Ma, Chien-Hui & Smith, Bruce D., 1996. "Credit market imperfections and economic development: Theory and evidence," Journal of Development Economics, Elsevier, vol. 48(2), pages 351-387, March.
    31. Soumaré, Issouf & Lai, Van Son, 2016. "An analysis of government loan guarantees and direct investment through public-private partnerships," Economic Modelling, Elsevier, vol. 59(C), pages 508-519.
    32. Boyd, John H. & Smith, Bruce D., 1997. "Capital Market Imperfections, International Credit Markets, and Nonconvergence," Journal of Economic Theory, Elsevier, vol. 73(2), pages 335-364, April.
    33. Anginer, Deniz & de la Torre, Augusto & Ize, Alain, 2011. "Risk absorption by the state: when is it good public policy ?," Policy Research Working Paper Series 5893, The World Bank.
    34. Stanley D. Longhofer, 1997. "Absolute priority rule violations, credit rationing, and efficiency," Working Papers (Old Series) 9710, Federal Reserve Bank of Cleveland.

  79. Smith, Bruce D., 1989. "Legal restrictions, "sunspots," and cycles," Journal of Economic Theory, Elsevier, vol. 47(2), pages 369-392, April.

    Cited by:

    1. Gomis-Porqueras, Pere, 2001. "When Should Bank Regulation Favor the Wealthy?," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 327-337, July.
    2. Michener, Ronald & Ravikumar, B., 1998. "Chaotic dynamics in a cash-in-advance economy," Journal of Economic Dynamics and Control, Elsevier, vol. 22(7), pages 1117-1137, May.
    3. Bhattacharya, Joydeep & Russell, Steven, 2002. "Two-Period Cycles in a Three-Period Overlapping Generations Model," Staff General Research Papers Archive 10250, Iowa State University, Department of Economics.
    4. Fukuda, Shin-ichi, 1998. "Sunspot equilibria and periodic cycles under idiosyncratic uncertainty," Journal of Economic Behavior & Organization, Elsevier, vol. 36(1), pages 127-138, July.
    5. David Aadland & David Finnoff & Kevin X. D. Huang, 2016. "Behavioral Origins of Epidemiological Bifurcations," Vanderbilt University Department of Economics Working Papers 16-00004, Vanderbilt University Department of Economics.

  80. Smith, Bruce D, 1989. "A Model of Nominal Contracts," Journal of Labor Economics, University of Chicago Press, vol. 7(4), pages 392-414, October.
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    Cited by:

    1. Peter L. Rousseau, 2009. "Monetary Policy and the Dollar," NBER Working Papers 14993, National Bureau of Economic Research, Inc.
    2. De Grauwe, Paul & Polan, Magdalena, 2001. "Is Inflation Always and Everywhere a Monetary Phenomenon?," CEPR Discussion Papers 2841, C.E.P.R. Discussion Papers.
    3. Farley Grubb, 2005. "Two Theories of Money Reconciled: The Colonial Puzzle Revisited with New Evidence," NBER Working Papers 11784, National Bureau of Economic Research, Inc.

  83. Smith, Bruce D, 1988. "Legal Restrictions, "Sunspots," and Peel's Bank Act: The Real Bills Doctrine versus the Quantity Theory Reconsidered," Journal of Political Economy, University of Chicago Press, vol. 96(1), pages 3-19, February.

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    1. Pierpaolo Benigno, 2023. "Monetary Policy in a World of Cryptocurrencies," Journal of the European Economic Association, European Economic Association, vol. 21(4), pages 1363-1396.
    2. Charles T. Carlstrom & Timothy S. Fuerst, 1995. "Interest rate rules vs. money growth rules: a welfare comparison in a cash-in-advance economy," Working Papers (Old Series) 9504, Federal Reserve Bank of Cleveland.
    3. Bhattacharya, Joydeep & Haslag, Joseph H., 2000. "Reliance, Composition, and Inflation," ISU General Staff Papers 200001010800001830, Iowa State University, Department of Economics.
    4. Coles, Melvyn G. & Wright, Randall, 1998. "A Dynamic Equilibrium Model of Search, Bargaining, and Money," Journal of Economic Theory, Elsevier, vol. 78(1), pages 32-54, January.
    5. Banerji, Sanjay & Bhattacharya, Joydeep & Long, Ngo Van, 2004. "Can financial intermediation induce endogenous fluctuations," Journal of Economic Dynamics and Control, Elsevier, vol. 28(11), pages 2215-2238, October.
    6. Andreas Schabert, 2004. "On the Relevance of Open Market Operations," 2004 Meeting Papers 272, Society for Economic Dynamics.
    7. Espinosa-Vega, Marco A. & Smith, Bruce D. & Yip, Chong K., 2002. "Monetary Policy and Government Credit Programs," Journal of Financial Intermediation, Elsevier, vol. 11(3), pages 232-268, July.
    8. Bhattacharya, Joydeep & Singh, Rajesh, 2007. "Optimal choice of monetary instruments in an economy with real and liquidity shocks," ISU General Staff Papers 200705030700001160, Iowa State University, Department of Economics.
    9. Laurent Augier & Xiaoxiao Wang, 2013. "Politiques Des Reserves Obligatoires Et Politique Fiscale Dans Un Pays En Developpement: Monetary Policy Reserve Requirements And Fiscal Policy In Developping Countries," Brussels Economic Review, ULB -- Universite Libre de Bruxelles, vol. 56(3-4), pages 291-311.
    10. Ennis, Huberto M. & Keister, Todd, 2005. "Optimal fiscal policy under multiple equilibria," Journal of Monetary Economics, Elsevier, vol. 52(8), pages 1359-1377, November.
    11. Chuang, Shi-Feng & Huo, Teh-Ming, 2004. "Legal restrictions and sunspots: A further inquiry on the real-bills doctrine versus the quantity theory debate," Journal of Macroeconomics, Elsevier, vol. 26(3), pages 431-442, September.

  84. John H. Boyd & Edward C. Prescott & Bruce D. Smith, 1988. "Organizations in Economic Analysis," Canadian Journal of Economics, Canadian Economics Association, vol. 21(3), pages 477-491, August.
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  85. Sargent, Thomas J & Smith, Bruce D, 1987. "Irrelevance of Open Market Operations in Some Economies with Government Currency Being Dominated in Rate of Return," American Economic Review, American Economic Association, vol. 77(1), pages 78-92, March.

    Cited by:

    1. Peter L. Rousseau, 2009. "Monetary Policy and the Dollar," NBER Working Papers 14993, National Bureau of Economic Research, Inc.
    2. Gomis-Porqueras, Pere, 2001. "When Should Bank Regulation Favor the Wealthy?," Journal of Economic Theory, Elsevier, vol. 99(1-2), pages 327-337, July.
    3. Bhandari, Anmol & Evans, David & Golosov, Mikhail & Sargent, Thomas J., 2017. "Public debt in economies with heterogeneous agents," Journal of Monetary Economics, Elsevier, vol. 91(C), pages 39-51.
    4. Marco Bassetto & Thomas J. Sargent, 2020. "Shotgun Wedding: Fiscal and Monetary Policy," NBER Working Papers 27004, National Bureau of Economic Research, Inc.
    5. Andreas Schabert, 2006. "Central Bank Instruments, Fiscal Policy Regimes, and the Requirements for Equilibrium Determinacy," Tinbergen Institute Discussion Papers 06-025/2, Tinbergen Institute.
    6. Jagjit S. Chadha & Philip Turner & Fabrizio Zampolli, 2013. "The Ties that Bind: Monetary Policy and Government Debt Management," Studies in Economics 1318, School of Economics, University of Kent.
    7. Marvin Goodfriend & Robert G. King, 1988. "Financial deregulation, monetary policy, and central banking," Working Paper 88-01, Federal Reserve Bank of Richmond.
    8. Miles, David & Schanz, Jochen, 2015. "The relevance or otherwise of the central bank’s balance sheet," Discussion Papers 41, Monetary Policy Committee Unit, Bank of England.
    9. Schabert, Andreas, 2004. "On the Relevance of Open Market Operations," Discussion Paper Series 26344, Hamburg Institute of International Economics.
    10. Bhattacharya, Joydeep & Haslag, Joseph & Russell, Steven, 2003. "Monetary Policy, Fiscal Policy, and the Inflation Tax: Equivalence Results," Staff General Research Papers Archive 10249, Iowa State University, Department of Economics.
    11. Penalver, Adrian & Hanaki, Nobuyuki & Akiyama, Eizo & Funaki, Yukihiko & Ishikawa, Ryuichiro, 2020. "A quantitative easing experiment," Journal of Economic Dynamics and Control, Elsevier, vol. 119(C).
    12. Andreas Schabert, 2005. "Discretionary Policy, Multiple Equilibria, and Monetary Instruments," Tinbergen Institute Discussion Papers 05-098/2, Tinbergen Institute.
    13. Andreas Schabert, 2004. "On the relevance of open market operations for the short-run effects of monetary policy," Money Macro and Finance (MMF) Research Group Conference 2003 83, Money Macro and Finance Research Group.
    14. Benigno, Pierpaolo & Nistico, Salvatore, 2015. "Non-Neutrality of Open-Market Operations," CEPR Discussion Papers 10594, C.E.P.R. Discussion Papers.
    15. Andreas Schabert, 2004. "On the Relevance of Open Market Operations," 2004 Meeting Papers 272, Society for Economic Dynamics.
    16. Andreas Schabert, 2005. "Money Supply and the Implementation of Interest Rate Targets," Tinbergen Institute Discussion Papers 05-059/2, Tinbergen Institute.
    17. Highfield, Richard A. & O'Hara, Maureen & Smith, Bruce, 1996. "Do open market operations matter? Theory and evidence from the Second Bank of the United States," Journal of Economic Dynamics and Control, Elsevier, vol. 20(1-3), pages 479-519.
    18. Anmol Bhandari & David Evans & Mikhail Golosov & Thomas J. Sargent, 2013. "Taxes, Debts, and Redistributions with Aggregate Shocks," NBER Working Papers 19470, National Bureau of Economic Research, Inc.
    19. Filiani, Pasquale, 2021. "Optimal monetary–fiscal policy in the euro area liquidity crisis," Journal of Macroeconomics, Elsevier, vol. 70(C).
    20. Fabrizio Zampolli, 2012. "Sovereign debt management as an instrument of monetary policy: an overview," BIS Papers chapters, in: Bank for International Settlements (ed.), Threat of fiscal dominance?, volume 65, pages 97-118, Bank for International Settlements.
    21. Carli, Francesco & Gomis-Porqueras, Pedro, 2021. "Real consequences of open market operations: The role of limited commitment," European Economic Review, Elsevier, vol. 132(C).
    22. Adrian Penalver, Nobuyuki Hanaki, Eizo Akiyama, Yukihiko Funaki, Ryuichiro Ishikawa, 2018. "An Experimental Analysis Of The Effect Of Quantitative Easing," Working papers 684, Banque de France.
    23. Tsiaras, Stylianos, 2023. "Asset purchases, limited asset markets participation and inequality," Journal of Economic Dynamics and Control, Elsevier, vol. 154(C).
    24. Stijn van Nieuwerburgh & Michael Kumhof, 2005. "Monetary Policy in an Equilibrium Portfolio Balance Model," 2005 Meeting Papers 851, Society for Economic Dynamics.
    25. Homburg, Stefan, 2017. "A Study in Monetary Macroeconomics," OUP Catalogue, Oxford University Press, number 9780198807537.
    26. Cutsinger, Bryan P. & Rouanet, Louis & Ingber, Joshua S., 2023. "Assignats or death: The politics and dynamics of hyperinflation in revolutionary France," European Economic Review, Elsevier, vol. 157(C).
    27. Schabert, Andreas, 2009. "Money supply, macroeconomic stability, and the implementation of interest rate targets," Journal of Macroeconomics, Elsevier, vol. 31(2), pages 333-344, June.
    28. Herrenbrueck, Lucas, 2019. "Frictional asset markets and the liquidity channel of monetary policy," Journal of Economic Theory, Elsevier, vol. 181(C), pages 82-120.
    29. Christian Bustamante, 2021. "More Money for Some: The Redistributive Effects of Open Market Operations," Staff Working Papers 21-46, Bank of Canada.
    30. Miles, David & Schanz, Jochen, 2014. "Should central banks provide reserves via repos or outright bond purchases?," CEPR Discussion Papers 10229, C.E.P.R. Discussion Papers.

  86. Bruce Smith, 1986. "Limited Information, Money, and Competitive Equilibrium," Canadian Journal of Economics, Canadian Economics Association, vol. 19(4), pages 780-797, November.
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  87. Bruce D. Smith, 1985. "American Colonial Monetary Regimes: The Failure of the Quantity Theory and Some Evidence in Favour of an Alternative View," Canadian Journal of Economics, Canadian Economics Association, vol. 18(3), pages 531-565, August.

    Cited by:

    1. Caleb Stroup & Peter Rousseau, 2010. "Monetization and Growth in Colonial New England, 1703-1749," Working Papers 10-01, Davidson College, Department of Economics.
    2. Grubb, Farley, 2004. "The circulating medium of exchange in colonial Pennsylvania, 1729-1775: new estimates of monetary composition, performance, and economic growth," Explorations in Economic History, Elsevier, vol. 41(4), pages 329-360, October.
    3. David Laidler, 1991. "The Quantity Theory is Always and Everywhere Controversial—Why?," The Economic Record, The Economic Society of Australia, vol. 67(4), pages 289-306, December.
    4. Bordo, Michael D., 1986. "Explorations in monetary history: A survey of the literature," Explorations in Economic History, Elsevier, vol. 23(4), pages 339-415, October.
    5. Benati, Luca, 2008. "Investigating inflation persistence across monetary regimes," Working Paper Series 851, European Central Bank.
    6. Farley Grubb, 2012. "Chronic Specie Scarcity and Efficient Barter: The Problem of Maintaining an Outside Money Supply in British Colonial America," NBER Working Papers 18099, National Bureau of Economic Research, Inc.
    7. Charles W. Calomiris & Christopher Hanes, 1994. "Historical Macroeconomics and American Macroeconomic History," NBER Working Papers 4935, National Bureau of Economic Research, Inc.
    8. Bennett T. McCallum, 1990. "Money and Prices in Colonial America: A New Test of Competing Theories," NBER Working Papers 3383, National Bureau of Economic Research, Inc.
    9. Stanley C. W. Salvary, 2005. "Informedness Of Economic Agents And The Quantity Theory Of Money," Macroeconomics 0512005, University Library of Munich, Germany.
    10. Farley Grubb, 2016. "Is Paper Money Just Paper Money? Experimentation and Variation in the Paper Monies Issued by the American Colonies from 1690 to 1775," Research in Economic History, in: Research in Economic History, volume 32, pages 147-224, Emerald Group Publishing Limited.
    11. Pecquet, Gary M. & Thies, Clifford F., 2007. "Texas treasury notes and market manipulation, 1837-1842," Explorations in Economic History, Elsevier, vol. 44(1), pages 81-99, January.
    12. Imrohoroglu, Selahattin, 1995. "A Markov switching model for the Hungarian price stabilization plan of 1924," Journal of Macroeconomics, Elsevier, vol. 17(2), pages 347-355.
    13. Farley Grubb, 2014. "A New Approach to Solving the Colonial Monetary Puzzle: Evidence from New Jersey, 1709-1775," NBER Working Papers 19903, National Bureau of Economic Research, Inc.
    14. Ronald W. Michener & Robert E. Wright, 2006. "Miscounting Money of Colonial America," Econ Journal Watch, Econ Journal Watch, vol. 3(1), pages 4-44, January.
    15. Farley Grubb, 2006. "Theory, Evidence, and Belief—The Colonial Money Puzzle Revisited: Reply to Michener and Wright," Econ Journal Watch, Econ Journal Watch, vol. 3(1), pages 45-72, January.
    16. Bryan P Cutsinger & Vincent Geloso & Mathieu Bédard, 2022. "The wild card: colonial paper money in French North America, 1685 to 1719 [Economic Structure and Agricultural Productivity in Europe, 1300–1800]," European Review of Economic History, European Historical Economics Society, vol. 26(2), pages 185-207.
    17. Ronald W. Michener, 2019. "Re-examination of the Empirical Evidence Concerning Colonial New Jersey's Paper Money, 1709–1775: A Comment on Farley Grubb," Econ Journal Watch, Econ Journal Watch, vol. 16(2), pages 180–217-1, September.
    18. Farley Grubb, 2014. "A New Approach to Explaining the Value of Colonial Paper Money: Evidence from New Jersey, 1709-1775," Working Papers 14-08, University of Delaware, Department of Economics.
    19. Eric Tymoigne, 2014. "Monetary Mechanics: A Financial View," Economics Working Paper Archive wp_799, Levy Economics Institute.
    20. Michael F. Sproul, 2003. "There's No Such Thing As Fiat Money," UCLA Economics Working Papers 830, UCLA Department of Economics.
    21. Farley Grubb, 2005. "Two Theories of Money Reconciled: The Colonial Puzzle Revisited with New Evidence," NBER Working Papers 11784, National Bureau of Economic Research, Inc.

  88. Smith, Bruce D, 1985. "Some Colonial Evidence on Two Theories of Money: Maryland and the Carolinas," Journal of Political Economy, University of Chicago Press, vol. 93(6), pages 1178-1211, December.

    Cited by:

    1. Grubb, Farley, 2004. "The circulating medium of exchange in colonial Pennsylvania, 1729-1775: new estimates of monetary composition, performance, and economic growth," Explorations in Economic History, Elsevier, vol. 41(4), pages 329-360, October.
    2. Peter L. Rousseau, 2009. "Monetary Policy and the Dollar," NBER Working Papers 14993, National Bureau of Economic Research, Inc.
    3. David Laidler, 1991. "The Quantity Theory is Always and Everywhere Controversial—Why?," The Economic Record, The Economic Society of Australia, vol. 67(4), pages 289-306, December.
    4. Arthur J. Rolnick & Warren E. Weber, 1994. "Inflation, money, and output under alternative monetary standards," Staff Report 175, Federal Reserve Bank of Minneapolis.
    5. Benati, Luca, 2008. "Investigating inflation persistence across monetary regimes," Working Paper Series 851, European Central Bank.
    6. Farley Grubb, 2012. "Chronic Specie Scarcity and Efficient Barter: The Problem of Maintaining an Outside Money Supply in British Colonial America," NBER Working Papers 18099, National Bureau of Economic Research, Inc.
    7. Charles W. Calomiris & Christopher Hanes, 1994. "Historical Macroeconomics and American Macroeconomic History," NBER Working Papers 4935, National Bureau of Economic Research, Inc.
    8. Obaid, Shahid & Baig, Mirza Aqeel & Shah, Muzafar Ali, 2020. "Determining inflation as monetary or fiscal phenomenon: An empirical evidence from South Asia," BizEcons Quarterly, Strides Educational Foundation, vol. 6, pages 22-48.
    9. Dror Goldberg, 2012. "The tax-foundation theory of fiat money," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 50(2), pages 489-497, June.
    10. Gary Pecquet & Clifford Thies, 2010. "Money in occupied New Orleans, 1862–1868: A test of Selgin’s “salvaging” of Gresham’s Law," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 23(2), pages 111-126, June.
    11. Farley Grubb, 2008. "Creating Maryland’s Paper Money Economy, 1720-1739: The Role of Power, Print, and Markets," Working Papers 08-16, University of Delaware, Department of Economics.
    12. Farley Grubb, 2016. "Is Paper Money Just Paper Money? Experimentation and Variation in the Paper Monies Issued by the American Colonies from 1690 to 1775," Research in Economic History, in: Research in Economic History, volume 32, pages 147-224, Emerald Group Publishing Limited.
    13. Bruce Smith, 1988. "The relationship between money and prices: some historical evidence reconsidered," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 12(Sum), pages 18-32.
    14. Highfield, Richard A. & O'Hara, Maureen & Smith, Bruce, 1996. "Do open market operations matter? Theory and evidence from the Second Bank of the United States," Journal of Economic Dynamics and Control, Elsevier, vol. 20(1-3), pages 479-519.
    15. Rolnick, Arthur J & Weber, Warren E, 1997. "Money, Inflation, and Output under Fiat and Commodity Standards," Journal of Political Economy, University of Chicago Press, vol. 105(6), pages 1308-1321, December.
    16. Pecquet, Gary M. & Thies, Clifford F., 2007. "Texas treasury notes and market manipulation, 1837-1842," Explorations in Economic History, Elsevier, vol. 44(1), pages 81-99, January.
    17. Imrohoroglu, Selahattin, 1995. "A Markov switching model for the Hungarian price stabilization plan of 1924," Journal of Macroeconomics, Elsevier, vol. 17(2), pages 347-355.
    18. Farley Grubb, 2012. "Is Paper Money just Paper Money/ Experimentation and Local Variation in the Fiat Paper Monies Issued by the Colonial Government of British North America, 1690-1775: Part I," Working Papers 12-07, University of Delaware, Department of Economics.
    19. Cory Cutsail & Farley Grubb, 2017. "The Paper Money of Colonial North Carolina, 1712-1774," NBER Working Papers 23783, National Bureau of Economic Research, Inc.
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    21. Ronald W. Michener & Robert E. Wright, 2006. "Miscounting Money of Colonial America," Econ Journal Watch, Econ Journal Watch, vol. 3(1), pages 4-44, January.
    22. Farley Grubb, 2006. "Theory, Evidence, and Belief—The Colonial Money Puzzle Revisited: Reply to Michener and Wright," Econ Journal Watch, Econ Journal Watch, vol. 3(1), pages 45-72, January.
    23. Farley Grubb, 2003. "Creating the U.S. Dollar Currency Union, 1748–1811: A Quest for Monetary Stability or a Usurpation of State Sovereignty for Personal Gain?," American Economic Review, American Economic Association, vol. 93(5), pages 1778-1798, December.
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  89. Smith, Bruce D., 1984. "Private information, deposit interest rates, and the `stability' of the banking system," Journal of Monetary Economics, Elsevier, vol. 14(3), pages 293-317, November.

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    1. Li, Yiting, 1998. "Middlemen and private information," Journal of Monetary Economics, Elsevier, vol. 42(1), pages 131-159, June.
    2. Ali Mirzaei, 2013. "Bank Performance during the Financial Crisis 2007-2010," International Journal of Business and Economics, School of Management Development, Feng Chia University, Taichung, Taiwan, vol. 12(1), pages 27-44, June.
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    4. Xiaoqing Maggie Fu & Yongjia Rebecca Lin & Philip Molyneux, 2015. "Bank Competition and Financial Stability in Asia Pacific," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Bank Competition, Efficiency and Liquidity Creation in Asia Pacific, chapter 3, pages 49-71, Palgrave Macmillan.
    5. Thorsten Beck & Asli Demirguc-Kunt & Ross Levine, 2005. "Bank Concentration and Fragility: Impact and Mechanics," NBER Working Papers 11500, National Bureau of Economic Research, Inc.
    6. William P. Osterberg, 1992. "Intervention and the bid-ask spread in G-3 foreign exchange rates," Economic Review, Federal Reserve Bank of Cleveland, vol. 28(Q II), pages 2-13.
    7. David VanHoose, 2013. "Implications of Shifting Retail Market Shares for Loan Monitoring in a Dominant-Bank Model," Scottish Journal of Political Economy, Scottish Economic Society, vol. 60(3), pages 291-316, July.
    8. Georges Dionne, 2003. "The Foundationsof Banks' Risk Regulation: A Review of Literature," THEMA Working Papers 2003-46, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    9. Xavier Vives, 2010. "Competition and Stability in Banking," Working Papers Central Bank of Chile 576, Central Bank of Chile.
    10. Lapteacru, Ion, 2017. "Market power and risk of Central and Eastern European banks: Does more powerful mean safer?," Economic Modelling, Elsevier, vol. 63(C), pages 46-59.
    11. Leroy, Aurélien & Lucotte, Yannick, 2017. "Is there a competition-stability trade-off in European banking?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 46(C), pages 199-215.
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    13. Yulia Ushakova & Anna Kruglova, 2018. "Competition in Russia's Banking Sector Prior to and After Supervision Policy Enhancement: Conclusions Based on Interest Rate Dispersion and Spread," Russian Journal of Money and Finance, Bank of Russia, vol. 77(2), pages 22-50, June.
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    Cited by:

    1. Caleb Stroup & Peter Rousseau, 2010. "Monetization and Growth in Colonial New England, 1703-1749," Working Papers 10-01, Davidson College, Department of Economics.
    2. Andreas Schabert, 2006. "Central Bank Instruments, Fiscal Policy Regimes, and the Requirements for Equilibrium Determinacy," Tinbergen Institute Discussion Papers 06-025/2, Tinbergen Institute.
    3. Mark G. Guzman, 2006. "The impact of paying interest on reserves in the presence of government deficit financing," Economics Discussion Papers em-dp2006-39, Department of Economics, University of Reading.
    4. Officer, Lawrence H., 2005. "The quantity theory in New England, 1703-1749: new data to analyze an old question," Explorations in Economic History, Elsevier, vol. 42(1), pages 101-121, January.
    5. Gary Pecquet & Clifford Thies, 2010. "Money in occupied New Orleans, 1862–1868: A test of Selgin’s “salvaging” of Gresham’s Law," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 23(2), pages 111-126, June.
    6. Preston J. Miller & William Roberds, 1989. "How little we know about budget policy effects," Staff Report 120, Federal Reserve Bank of Minneapolis.
    7. Bruce Smith, 1988. "The relationship between money and prices: some historical evidence reconsidered," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 12(Sum), pages 18-32.
    8. Gary M. Pecquet & Clifford F. Thies, 2006. "Texas Treasury Warrants, 1861-1865: A Test Of The Tax-Backing Of Money," Eastern Economic Journal, Eastern Economic Association, vol. 32(2), pages 191-203, Spring.
    9. Pecquet, Gary M. & Thies, Clifford F., 2007. "Texas treasury notes and market manipulation, 1837-1842," Explorations in Economic History, Elsevier, vol. 44(1), pages 81-99, January.
    10. Marco A. Espinosa-Vega & Steven Russell, 1997. "History and theory of the NAIRU: a critical review," Economic Review, Federal Reserve Bank of Atlanta, vol. 82(Q 2), pages 4-25.
    11. Preston J. Miller & William Roberds, 1992. "How little we know about deficit policy effects," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 16(Win), pages 2-11.
    12. Marco A. Espinosa-Vega & Steven Russell, 1990. "The inflationary effects of the use of reserve ratio reductions, or open market purchases, to reduce market interest rates: a theoretical comparison," Working Papers 1990-006, Federal Reserve Bank of St. Louis.
    13. Marco A. Espinosa-Vega & Steven Russell, 1998. "A public finance analysis of multiple reserve requirements," FRB Atlanta Working Paper 98-1, Federal Reserve Bank of Atlanta.
    14. Marco A. Espinosa-Vega & Steven Russell, 1998. "The long-run real effects of monetary policy: Keynesian predictions from a neoclassical model," FRB Atlanta Working Paper 98-6, Federal Reserve Bank of Atlanta.
    15. James B. Bullard & Steven Russell, 1998. "Monetary steady states in a low real interest rate economy," Working Papers 1994-012, Federal Reserve Bank of St. Louis.
    16. Preston J. Miller & Neil Wallace, 1985. "International coordination of macroeconomic policies: a welfare analysis," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 9(Spr).
    17. Marco A. Espinosa-Vega & Steven Russell, 2001. "Stability of steady states in a model of pleasant monetarist arithmetic," FRB Atlanta Working Paper 2001-20, Federal Reserve Bank of Atlanta.

  91. Smith, Bruce, 1983. "Limited Information, Credit Rationing, and Optimal Government Lending Policy," American Economic Review, American Economic Association, vol. 73(3), pages 305-318, June.

    Cited by:

    1. Huneeus,Federico & Kaboski,Joseph P. & Larrain,Mauricio & Schmukler,Sergio L. & Vera,Mario, 2022. "The Distribution of Crisis Credit : Effects on Firm Indebtedness and Aggregate Risk," Policy Research Working Paper Series 9937, The World Bank.
    2. Mark Gertler, 1988. "Financial structure and aggregate economic activity: an overview," Proceedings, Federal Reserve Bank of Cleveland, pages 559-596.
    3. Roger E.A. Farmer, 1989. "AIL Theory and the Ailing Phillips Curve: A Contract Based Approach to Aggregate Supply," NBER Working Papers 3115, National Bureau of Economic Research, Inc.
    4. João Granja & Christos Makridis & Constantine Yannelis & Eric Zwick, 2020. "Did the Paycheck Protection Program Hit the Target?," NBER Working Papers 27095, National Bureau of Economic Research, Inc.
    5. Ben Bernanke & Mark Gertler, 1990. "Financial Fragility and Economic Performance," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 105(1), pages 87-114.
    6. Gerhard Clemenz & Mona Ritthaler, 1992. "Credit markets with asymmetric information : a survey," Finnish Economic Papers, Finnish Economic Association, vol. 5(1), pages 12-26, Spring.
    7. Patrick Artus, 1993. "Crises financières et cycle réel : Le rôle des imperfections du marché du crédit," Revue d'Économie Financière, Programme National Persée, vol. 26(3), pages 89-107.
    8. Longhofer, Stanley D., 1997. "Absolute Priority Rule Violations, Credit Rationing, and Efficiency," Journal of Financial Intermediation, Elsevier, vol. 6(3), pages 249-267, July.
    9. Gérard Mondello, 1990. "Note sur un modèle dynamique de rationnement du crédit," Revue Économique, Programme National Persée, vol. 41(1), pages 119-134.
    10. Bachas, Natalie & Kim, Olivia S. & Yannelis, Constantine, 2021. "Loan guarantees and credit supply," Journal of Financial Economics, Elsevier, vol. 139(3), pages 872-894.
    11. English, William B., 2000. "The irrelevance of some forms of credit constraints for government monetary and debt policy," Journal of Economics and Business, Elsevier, vol. 52(1-2), pages 7-30.
    12. Deborah Lucas, 2016. "Credit Policy as Fiscal Policy," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 47(1 (Spring), pages 1-57.
    13. Broll, Udo & Gilroy, Michael B, 1986. "Collateral in Banking Policy and Adverse Selection," The Manchester School of Economic & Social Studies, University of Manchester, vol. 54(4), pages 357-366, December.
    14. Juan Luis Vega, 1992. "El papel del crédito en el mecanismo de transmisión monetaria," Estudios Económicos, Banco de España, number 48.
    15. Bellon, Aymeric & Harpedanne de Belleville, Louis-Marie & Pinardon-Touati, Noémie, 2021. "Mediating Financial Intermediation," MPRA Paper 108339, University Library of Munich, Germany.
    16. Gustavo A. Barboza & Humberto Barreto, 2006. "Learning By Association: Micro Credit In Chiapas, Mexico," Contemporary Economic Policy, Western Economic Association International, vol. 24(2), pages 316-331, April.
    17. Stanley D. Longhofer, 1997. "Absolute priority rule violations, credit rationing, and efficiency," Working Papers (Old Series) 9710, Federal Reserve Bank of Cleveland.

Chapters

  1. John H. Boyd & Chun Chang & Bruce D. Smith, 2006. "Deposit Insurance and Bank Regulation in a Monetary Economy: A General Equilibrium Exposition," Studies in Economic Theory, in: Charalambos D. Aliprantis & Nicholas C. Yannelis & Gabriele Camera (ed.), Recent Developments on Money and Finance, pages 11-38, Springer.
    See citations under working paper version above.Sorry, no citations of chapters recorded.

Books

  1. Altig,David E. & Smith,Bruce D. (ed.), 2003. "Evolution and Procedures in Central Banking," Cambridge Books, Cambridge University Press, number 9780521814270.

    Cited by:

    1. Helena Chytilová & Zdeněk Chytil, 2014. "Ekonomické vzdělání a peněžní iluze, experimentální přístup [Economic Education and Money Illusion: An Experimental Approach]," Politická ekonomie, Prague University of Economics and Business, vol. 2014(4), pages 500-520.
    2. Mary A. Burke & Michael Manz, 2014. "Economic Literacy and Inflation Expectations: Evidence from a Laboratory Experiment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 46(7), pages 1421-1456, October.
    3. James McNeil, 2024. "Modeling interest rate setting at the European Central Bank with bargaining models and counterfactuals," Empirical Economics, Springer, vol. 66(3), pages 1037-1053, March.
    4. Gene Amromin & Sujit Chakravorti, 2009. "Whither Loose Change? The Diminishing Demand for Small-Denomination Currency," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 41(2-3), pages 315-335, March.
    5. Giamattei, Marcus, 2015. "Cold Turkey vs. Gradualism - Evidence on Disinflation Strategies from a Laboratory Experiment," Passauer Diskussionspapiere, Volkswirtschaftliche Reihe V-67-15, University of Passau, Faculty of Business and Economics.
    6. Mr. Manmohan Singh & Mr. Peter Stella, 2012. "Money and Collateral," IMF Working Papers 2012/095, International Monetary Fund.
    7. Pfajfar, D. & Zakelj, B., 2012. "Uncertainty and Disagreement in Forecasting Inflation : Evidence from the Laboratory (Revised version of EBC DP 2011-014)," Other publications TiSEM 2b92a09f-918e-4614-978d-0, Tilburg University, School of Economics and Management.
    8. Gary Gorton & Lixin Huang, 2002. "Bank Panics and the Endogeneity of Central Banking," Center for Financial Institutions Working Papers 02-29, Wharton School Center for Financial Institutions, University of Pennsylvania.
    9. Camille Cornand & Frank Heinemann, 2014. "Experiments on Monetary Policy and Central Banking," Research in Experimental Economics, in: Experiments in Macroeconomics, volume 17, pages 167-227, Emerald Group Publishing Limited.
    10. Camille Cornand & Frank Heinemann, 2015. "Macro-expérimentation autour des fonctions des banques centrales," Revue française d'économie, Presses de Sciences-Po, vol. 0(2), pages 3-47.
    11. Philipp Bagus & David Howden, 2012. "Still unanswered quibbles with fractional reserve free banking," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 25(2), pages 159-171, June.
    12. Bernd Hayo & Pierre-Guillaume Méon, 2011. "Behind closed doors: Revealing the ECB’s Decision Rule," MAGKS Papers on Economics 201135, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    13. Cornand, Camille & Hubert, Paul, 2020. "On the external validity of experimental inflation forecasts: A comparison with five categories of field expectations," Journal of Economic Dynamics and Control, Elsevier, vol. 110(C).
    14. Jón Daníelsson & Jean-Pierre Zigrand, 2008. "Equilibrium asset pricing with systemic risk," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 35(2), pages 293-319, May.
    15. Gene Amromin & Sujit Chakravorti, 2007. "Debit card and cash usage: a cross-country analysis," Working Paper Series WP-07-04, Federal Reserve Bank of Chicago.
    16. Pfajfar, Damjan & Žakelj, Blaž, 2014. "Experimental evidence on inflation expectation formation," Journal of Economic Dynamics and Control, Elsevier, vol. 44(C), pages 147-168.
    17. Arnold, Ivo J.M. & Roelands, Sebastian, 2010. "The demand for euros," Journal of Macroeconomics, Elsevier, vol. 32(2), pages 674-684, June.
    18. John Duffy & Daniela Puzzello, 2019. "The Friedman Rule in the Laboratory," 2019 Meeting Papers 541, Society for Economic Dynamics.
    19. Dwyer Jr., Gerald P. & Samartín, Margarita, 2009. "Why do banks promise to pay par on demand?," Journal of Financial Stability, Elsevier, vol. 5(2), pages 147-169, June.
    20. Eric Guerci & Nobuyuki Hanaki & Mauro Napoletano, 2019. "Introduction to special issue on “Complex evolving system approach to market dynamics and policy design”," Post-Print hal-02299231, HAL.
    21. Gary Gorton, 2020. "The Regulation of Private Money," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 52(S1), pages 21-42, October.
    22. Vincent Bignon & Marc Flandreau & Stefano Ugolini, 2012. "Bagehot for beginners: the making of lender‐of‐last‐resort operations in the mid‐nineteenth century," Economic History Review, Economic History Society, vol. 65(2), pages 580-608, May.
    23. Dooyeon Cho & Dong-Eun Rhee, 2015. "An assessment of inflation targeting in a quantitative monetary business cycle framework: evidence from four early adopters," Applied Economics, Taylor & Francis Journals, vol. 47(32), pages 3395-3413, July.
    24. Cavalcanti, Ricardo de Oliveira & Wallace, Neil, 2006. "New models of old(?) payment questions," FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) 619, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil).
    25. Vincent Bignon & Marc Flandreau & Stefano Ugolini, 2012. "Bagehot for beginners: The Making of Lending of Last Resort Operations in the Mid-19th Century," Post-Print hal-01410545, HAL.
    26. Pfajfar, Damjan & Žakelj, Blaž, 2016. "Uncertainty in forecasting inflation and monetary policy design: Evidence from the laboratory," International Journal of Forecasting, Elsevier, vol. 32(3), pages 849-864.
    27. John Duffy & Daniela Puzzello, 2022. "The Friedman Rule: Experimental Evidence," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 63(2), pages 671-698, May.
    28. Bursian, Dirk & Faia, Ester, 2013. "Trust in the monetary authority," SAFE Working Paper Series 14, Leibniz Institute for Financial Research SAFE, revised 2013.
    29. Pfajfar, D. & Zakelj, B., 2012. "Uncertainty and Disagreement in Forecasting Inflation : Evidence from the Laboratory (Revised version of CentER DP 2011-053)," Other publications TiSEM 38fac5ce-fe8f-4b61-a679-f, Tilburg University, School of Economics and Management.
    30. Matthew Baron & Emil Verner & Wei Xiong, 2021. "Banking Crises Without Panics," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 136(1), pages 51-113.
    31. Warren E. Weber, 2012. "Clearing arrangements in the United States before the Federal Reserve System," Working Papers 695, Federal Reserve Bank of Minneapolis.
    32. Sergey Drobyshevsky & Elizaveta Khudko & Elena Velikova, 2010. "Prospects for International Financial Center in the Russian Federation," Research Paper Series, Gaidar Institute for Economic Policy, issue 139P.
    33. Pfajfar, D. & Zakelj, B., 2011. "Uncertainty and Disagreement in Forecasting Inflation : Evidence from the Laboratory (Replaced by CentER DP 2012-072)," Discussion Paper 2011-053, Tilburg University, Center for Economic Research.
    34. van Eeghen, Piet-Hein, 2021. "Funding money-creating banks: Cash funding, balance sheet funding and the moral hazard of currency elasticity," International Review of Financial Analysis, Elsevier, vol. 76(C).
    35. John Duffy, 2008. "Macroeconomics: A Survey of Laboratory Research," Working Paper 334, Department of Economics, University of Pittsburgh, revised Jun 2014.
    36. John Duffy & Frank Heinemann, 2016. "Central Bank Reputation, Cheap Talk and Transparency as Substitutes for Commitment: Experimental Evidence," Working Papers 161703, University of California-Irvine, Department of Economics.
    37. Pfajfar, D. & Zakelj, B., 2011. "Inflation Expectations and Monetary Policy Design : Evidence from the Laboratory (Replaces CentER DP 2009-007)," Other publications TiSEM 24250de3-0ad7-48dc-9c2a-c, Tilburg University, School of Economics and Management.
    38. Howden, David, 2013. "The Rise and Fall of the Icelandic Economy," MPRA Paper 79603, University Library of Munich, Germany.
    39. Li, Yiting & Matsui, Akihiko, 2009. "A theory of international currency: Competition and discipline," Journal of the Japanese and International Economies, Elsevier, vol. 23(4), pages 407-426, December.
    40. Görgens Egon & Ruckriegel Karlheinz, 2007. "Zentralbanken zwischen staatlichem Machtanspruch und Stabilitätsinteresse / Central banks between government power and stability interest," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 58(1), pages 17-32, January.
    41. Damjan Pfajfar & Blaž Žakelj, 2015. "Inflation Expectations and Monetary Policy Design: Evidence from the Laboratory," Finance and Economics Discussion Series 2015-45, Board of Governors of the Federal Reserve System (U.S.).
    42. Bao, Te & Zong, Jichuan, 2019. "The impact of interest rate policy on individual expectations and asset bubbles in experimental markets," Journal of Economic Dynamics and Control, Elsevier, vol. 107(C), pages 1-1.
    43. Geoffrey R. Dunbar, 2019. "Demographics and the demand for currency," Empirical Economics, Springer, vol. 57(4), pages 1375-1409, October.
    44. Carl E. Walsh, 2009. "Inflation Targeting: What Have We Learned?," International Finance, Wiley Blackwell, vol. 12(2), pages 195-233, August.
    45. Luigi Mittone & Matteo Tomaselli, 2019. "Economic Growth and Public Debt: An Experimental Approach in Search of a Confidence Channel," DEM Working Papers 2019/18, Department of Economics and Management.
    46. Gary B. Gorton, 2019. "The Regulation of Private Money," NBER Working Papers 25891, National Bureau of Economic Research, Inc.

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