Financial market imperfections and home ownership: A comparative study
نویسندگان
چکیده
منابع مشابه
Essays on Financial Market Imperfections
This dissertation consists of three chapters on financial market imperfections, in particular, information imperfections. Chapter 1 studies how the existence of a fixed cost per transaction faced by uninformed investors hampers information revelation through price and exacerbates adverse selection. The exacerbated adverse selection explains one long-standing puzzle in finance the momentum anoma...
متن کاملFinancial Market Imperfections and Business Cycles
Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive o...
متن کاملCredit Market Imperfections and the Separation of Ownership from Control
This paper offers a model of credit markets with adverse selection and moral hazard. The equilibrium is highly inefficient, and the underlying reason is the zeroprofit condition imposed by competing financial intermediaries which gives very high powered incentives to entrepreneurs. The paper demonstrates that when entrepreneurs can hire a manager to run their projects, the inefficiencies are pr...
متن کاملa study on rate making and required reserves determination in reinsurance market: a simulation
reinsurance is widely recognized as an important instrument in the capital management of an insurance company as well as its risk management tool. this thesis is intended to determine premium rates for different types of reinsurance policies. also, given the fact that the reinsurance coverage of every company depends upon its reserves, so different types of reserves and the method of their calc...
Labor Market Imperfections , Real Wage Rigidities and Financial Shocks
By using the recent Gertler and Kiyotakis (2010) setup, this paper explores the interaction between real distortions stemming from the labor market institutions and nancial shocks. We nd that neither labor market imperfections nor scal institutions determining tax wedges have an impact on the volatility of the real economy induced by a nancial shock. By contrast, real wage rigidities matte...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: European Economic Review
سال: 2003
ISSN: 0014-2921
DOI: 10.1016/s0014-2921(02)00273-8