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Asymmetric Information in Financial Markets

2003-08-21 Business & Economics
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Release : 2003-08-21
Genre : Business & Economics
Kind : eBook
Book Rating : 320/5 ( reviews)

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Book Synopsis Asymmetric Information in Financial Markets by : Ricardo N. Bebczuk

Download or read book Asymmetric Information in Financial Markets written by Ricardo N. Bebczuk. This book was released on 2003-08-21. Available in PDF, EPUB and Kindle. Book excerpt: Asymmetric information (the fact that borrowers have better information than their lenders) and its theoretical and practical evidence now forms part of the basic tool kit of every financial economist. It is a phenomenon that has major implications for a number of economic and financial issues ranging from both micro and macroeconomic level - corporate debt, investment and dividend policies, the depth and duration of business cycles, the rate of long term economic growth - to the origin of financial and international crises. Asymmetric Information in Financial Markets aims to explain this concept in an accessible way, without jargon and by reducing mathematical complexity. Using elementary algebra and statistics, graphs, and convincing real-world evidence, the author explores the foundations of the problems posed by asymmetries of information in a refreshingly accessible and intuitive way.

Financial Markets, Asymmetric Information, and Macroeconomic Equilibrium

1993 Business & Economics
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Release : 1993
Genre : Business & Economics
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis Financial Markets, Asymmetric Information, and Macroeconomic Equilibrium by : Fabrizio Mattesini

Download or read book Financial Markets, Asymmetric Information, and Macroeconomic Equilibrium written by Fabrizio Mattesini. This book was released on 1993. Available in PDF, EPUB and Kindle. Book excerpt: The study of the interaction between the financial sector and the sector of the economy is one of the most recent advances in macroeconomic theory. While mainstream economics assigns a passive role to the financial sector there is a growing body of literature which emphasizes the importance of financial intermediaries in explaining fluctuations and the determination of the process through which monetary policy impulses are transmitted to the rest of the economy. This literature has its origin in the models that rely on asymmetric information to explain imperfections in financial markts and in empirical evidence collected through various econometric techniques and through historical studies. This book surveys the relevant work ion the subject, evaluates the empirical evidence and the explanatory power of the theories proposed and furnishes new and empirical results.

Asymmetric Information and the Market Structure of the Banking Industry

1998-06-01 Business & Economics
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Release : 1998-06-01
Genre : Business & Economics
Kind : eBook
Book Rating : 54X/5 ( reviews)

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Book Synopsis Asymmetric Information and the Market Structure of the Banking Industry by : Mr.Giovanni Dell'Ariccia

Download or read book Asymmetric Information and the Market Structure of the Banking Industry written by Mr.Giovanni Dell'Ariccia. This book was released on 1998-06-01. Available in PDF, EPUB and Kindle. Book excerpt: The paper analyzes the effects of informational asymmetries on the market structure of the banking industry in a multi-period model of spatial competition. All lenders face uncertainty with regard to borrowers’ creditworthiness, but, in the process of lending, incumbent banks gather proprietary information about their clients, acquiring an advantage over potential entrants. These informational asymmetries are an important determinant of the industry structure and may represent a barrier to entry for new banks. The paper shows that, in contrast with traditional models of horizontal differentiation, the steady-state equilibrium is characterized by a finite number of banks even in the absence of fixed costs.

The Economics of Asymmetric Information

1997-04-07 Business & Economics
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Release : 1997-04-07
Genre : Business & Economics
Kind : eBook
Book Rating : 851/5 ( reviews)

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Book Synopsis The Economics of Asymmetric Information by : B. Hillier

Download or read book The Economics of Asymmetric Information written by B. Hillier. This book was released on 1997-04-07. Available in PDF, EPUB and Kindle. Book excerpt: This book presents recent developments in the economics of asymmetric information. The problems of selection and moral hazard, with hidden actions or hidden information, are introduced by examining how they affect the market for investment finance. The ideas are then used to analyse the market for insurance, signalling and screening models of education, efficiency wages, industrial regulation, public procurement and auctions. Coverage is thorough while avoiding excessive mathematical detail. Diagrams and verbal reasoning make the ideas accessible to intermediate level undergraduate students and beyond.

Asymmetric Information, Corporate Finance, and Investment

2009-05-15 Business & Economics
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Release : 2009-05-15
Genre : Business & Economics
Kind : eBook
Book Rating : 942/5 ( reviews)

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Book Synopsis Asymmetric Information, Corporate Finance, and Investment by : R. Glenn Hubbard

Download or read book Asymmetric Information, Corporate Finance, and Investment written by R. Glenn Hubbard. This book was released on 2009-05-15. Available in PDF, EPUB and Kindle. Book excerpt: In this volume, specialists from traditionally separate areas in economics and finance investigate issues at the conjunction of their fields. They argue that financial decisions of the firm can affect real economic activity—and this is true for enough firms and consumers to have significant aggregate economic effects. They demonstrate that important differences—asymmetries—in access to information between "borrowers" and "lenders" ("insiders" and "outsiders") in financial transactions affect investment decisions of firms and the organization of financial markets. The original research emphasizes the role of information problems in explaining empirically important links between internal finance and investment, as well as their role in accounting for observed variations in mechanisms for corporate control.

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