Fintech: what’s old, what’s new?

TL;DR: This paper conducted a systematic literature review of 4859 abstracts to categorize the various methodologies developed to measure systemic risk and identified the challenges which regulators face in addressing this phenomenon. But they also pointed out that most of these methods focus on individual financial institutions rather than on system stability.

TL;DR: In this article, the authors developed a framework that defines the roles of customers and investors in intermediaries, and used it to build an economic theory that has the following main findings: with positive net social surplus in the intermediary-customer relationship, the efficient (first best) contract completely insulates the customer from the intermediary's credit risk, thereby exposing the customer only to the risk inherent in the contract terms.

TL;DR: In this article, the authors analyzed how two types of recently used prudential policies affected the supply of credit in the United States and found that the first Comprehensive Capital Analysis and Review (CCAR) stress test in 2011 had a negative effect on the share of jumbo mortgage originations and approval rates at stress-tested banks.

TL;DR: In this article, the authors empirically examined how ties between a firm and its creditors affect the availability and cost of funds to the firm and found that the primary benefit of building close ties with an institutional creditor is that the availability of financing increases.

TL;DR: In this paper, the authors build a model of platform competition with two-sided markets and reveal the determinants of price allocation and end-user surplus for different governance structures (profit-maximizing platforms and not-for-profit joint undertakings), and compare the outcomes with those under an integrated monopolist and a Ramsey planner.

TL;DR: In this article, a general model of the firm is developed, and then the financial structure of firms, debt collecting and bankruptcy is analyzed in greater depth, and the authors contribute to contact theory as developed in economic analysis.

TL;DR: In this article, an incentive model of financial intermediation in which firms as well as intermediaries are capital constrained is studied, and how the distribution of wealth across firms, intermediaries, and uninformed investors affects investment, interest rates, and the intensity of monitoring.