Microeconomics of banking (Book, 2008) [WorldCat.org]
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Microeconomics of banking

Author: Xavier Freixas; Jean-Charles Rochet
Publisher: Cambridge, Mass. : MIT Press, ©2008.
Edition/Format:   Print book : English : 2nd edView all editions and formats
Summary:
"In the past, banking courses in most doctoral programs in economics, business, or finance focused either on management or monetary issues and their macroeconomic consequences; a microeconomic theory of banking did not exist because the Arrow-Debreu general equilibrium model of complete contingent markets (the standard reference at the time) was unable to explain the role of banks in the economy. This text provides
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Details

Material Type: Internet resource
Document Type: Book, Internet Resource
All Authors / Contributors: Xavier Freixas; Jean-Charles Rochet
ISBN: 9780262062701 0262062704
OCLC Number: 124074959
Description: xxi, 363 pages : illustrations ; 24 cm
Contents: 1. Introduction --
2. The role of financial intermediaries --
3. The industrial organization approach to banking --
4. The lender-borrower relationship --
5. Equilibrium in the credit market and its macroeconomic implications --
6. The macroeconomic consequences of financial imperfections --
7. Individual bank runs and systemic risk --
8. Managing risks in the banking firm --
9. The regulation of banks.
Responsibility: Xavier Freixas and Jean-Charles Rochet.
More information:

Abstract:

"In the past, banking courses in most doctoral programs in economics, business, or finance focused either on management or monetary issues and their macroeconomic consequences; a microeconomic theory of banking did not exist because the Arrow-Debreu general equilibrium model of complete contingent markets (the standard reference at the time) was unable to explain the role of banks in the economy. This text provides students with a guide to the microeconomic theory of banking that has emerged since then, examining the main issues and offering the necessary tools for understanding how they have been modeled."

"This second edition covers the recent dramatic developments in academic research on the microeconomics of banking, with a focus on four important topics: the theory of two-sided markets and its implications for the payment card industry; "nonprice competition" and its effect on the competition-stability tradeoff and the entry of new banks; the transmission of monetary policy and the effect on the functioning of the credit market of capital requirements for banks; and the theoretical foundations of banking regulation, which have been clarified, although recent developments in risk modeling have not yet led to a significant parallel development of economic modeling."--Jacket.

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