Risk Sharing, Liquidity, and Information Production in the Bank Deposit Contract
(1984) , 22 pages
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- Abstract
- Despite the central position of financial intermediaries both in the resources allocation process and as a transmission mechanism of monetary policy, there are, to date, relatively few investigations of the banking firm in microeconomic theory. A first set of papers dealt with the portfolio management of intermediaries and the dependence problem of assets selection on the cost and/or the capacities of the liabilities. Only recently a second group of papers investigated the reasons for the emergence of financial intermediaries as contracts that improve the completion of the market and thus its allocative efficiency.
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Citations
Lefebvre, O. (1984). Risk Sharing, Liquidity, and Information Production in the Bank Deposit Contract (Working Papers Institut des sciences économiques 8414). https://hdl.handle.net/2078.5/280790