Recent Developments on Money and Finance: Exploring Links between Market Frictions, Financial Systems and Monetary Allocations

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Gabriele Camera
Springer Science & Business Media, Jan 27, 2006 - Business & Economics - 273 pages
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This book assembles current theoretical contributions to monetary theory, banking and finance. The papers published in this collection span a wide variety of themes, from monetary policy to the optimal design of financial systems, from the study of the causes of financial crises to payment systems design. Thereby, the book serves as a useful reference to all researchers interested in the study of financial systems and monetary economics. The papers contribute to two strands of literature: A first group of papers focuses on topics related to the optimality of financial mechanisms, banking regulation, financial crises, financial fragility, and payment systems. A second group of papers is broadly concerned with the efficiency of the decentralized monetary solution in economies characterized by equilibrium heterogeneity.
 

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Contents

an introduction
1
a general
11
Diamond and Dybvig meet
39
Domestic financial market frictions unrestricted international capital
60
Inflation growth and exchange rate regimes in small open economies
93
Aggregate risk sharing and equivalent financial mechanisms in
125
Asset pricing implications of efficient risk sharing in an endowment
149
Distributional aspects of the divisibility of money An example
163
The distribution of money and prices in an equilibrium with lotteries
172
Money price dispersion and welfare
195
A simple search model of money with heterogeneous agents and partial
223
Limited participation private money and credit in a spatial model of money
254
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