EUI Working Paper: SPSEuropean University Institute, 1996 - Europe |
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Page 9
... information asymmetry . The central idea is that in conditions of information asymmetry , banking monopolies are more efficient than equity markets.9 A financial intermediary can monitor a firm's management more effectively than a small ...
... information asymmetry . The central idea is that in conditions of information asymmetry , banking monopolies are more efficient than equity markets.9 A financial intermediary can monitor a firm's management more effectively than a small ...
Page 10
... information asymmetry is not directly observ- able may turn the process of calibration into guesswork . All these difficulties make information asymmetry an unlikely contender to capital scarcity . Finally , even if the explanation ...
... information asymmetry is not directly observ- able may turn the process of calibration into guesswork . All these difficulties make information asymmetry an unlikely contender to capital scarcity . Finally , even if the explanation ...
Page 22
... information asymmetry models , not resurfaced.30 According to that literature , information asymmetry about firms ' profitability makes mixed banking ( the act of combining short with long assets ) a more efficient form of investment ...
... information asymmetry models , not resurfaced.30 According to that literature , information asymmetry about firms ' profitability makes mixed banking ( the act of combining short with long assets ) a more efficient form of investment ...
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adopt central banking agrarian periphery Arpád SZAKOLCZAI assets Australia Austria Austria-Hungary Banca Commerciale Italiana Banco Bank of England bank's banking structures banking system Banque Belgium Bouvier Britain business cycle Canada capital and reserves capital scarcity central bank Chlepner commercial banks competition corporatism corporatist corporatist regimes countries Crédit Lyonnais Crédit Mobilier Denmark denominator includes deposit banking deposit market depositors Dépôts Development discount Economic History equity equity-liability ratio European University Institute finance fiscal-military model France function Germany Gerschenkron Giandomenico MAJONE GNP per capita Goodhart groups information asymmetry insolvency investment banks Italy joint stock banks last resort lending of last liabilities liquidity guarantee market fragmentation mixed banking moderate corporatism National Monetary Commission Netherlands nonprofit banking nonprofit sector Norway note-issuing monopoly Oxford University Press paper percent pluralist Policy private bankers profit proxy rediscount Reichsbank rents representation savings banks Social Société Générale solvency specialized banking Sweden Teichova territorial Tortella universal banking