Topic
Intermediation
About: Intermediation is a research topic. Over the lifetime, 3358 publications have been published within this topic receiving 84086 citations. The topic is also known as: financial brokerage & brokers.
Papers published on a yearly basis
1 / 2
Papers
TL;DR: The authors developed a quantitative monetary DSGE model with financial intermediaries that face endogenously determined balance sheet constraints and used the model to evaluate the effects of the central bank using unconventional monetary policy to combat a simulated financial crisis.
2,914 citations
TL;DR: In this paper, an endogenous growth model with multiple assets is developed, and the effects of introducing financial intermediation into this environment are considered, and conditions are provided under which the introduction of intermediaries shifts the composition of savings toward capital, causing intermediation to be growth promoting.
Abstract: An endogenous growth model with multiple assets is developed. Agents who face random future liquidity needs accumulate capital and a liquid, but unproductive asset. The effects of introducing financial intermediation into this environment are considered. Conditions are provided under which the introduction of intermediaries shifts the composition of savings toward capital, causing intermediation to be growth promoting. In addition, intermediaries generally reduce socially unnecessary capital liquidation, again tending to promote growth.
2,509 citations
TL;DR: In this paper, the issue of intermediation and the role of intermediaries in the innovation process is investigated and a typology and framework of the different roles and functions of the intermediation process within innovation is developed.
2,159 citations
TL;DR: In this paper, the authors analyze a model of imperfect price competition between intermediation service providers, and analyze in detail the pricing and business strategies followed by intermediation services providers, showing that efficient market structures emerge in equilibrium, as well as some specific form of inefficient structures.
Abstract: We analyze a model of imperfect price competition between intermediation service providers. We insist on features that are relevant for informational intermediation via the Internet: the presence of indirect network externalities, the possibility of using the nonexclusive services of several intermediaries, and the widespread practice of price discrimination based on users' identity and on usage. Efficient market structures emerge in equilibrium, as well as some specific form of inefficient structures. Intermediaries have incentives to propose non-exclusive services, as this moderates competition and allows them to exert market power. We analyze in detail the pricing and business strategies followed by intermediation services providers. Copyright 2003 by the RAND Corporation.
2,075 citations
TL;DR: Demandable-debt finance by banks warrants explanation because it entails costs of bank suspension, liquidation, and idle reserve holdings as mentioned in this paper, and an explanation is developed in which demandable debt provides incentive-compatible intermediation where the banker has comparative advantage in allocating investment funds but may act against the interests of uninformed depositors.
Abstract: Demandable-debt finance by banks warrants explanation because it entails costs of bank suspension, liquidation, and idle reserve holdings. An explanation is developed in which demandable debt provides incentive-compatible intermediation where the banker has comparative advantage in allocating investment funds but may act against the interests of uninformed depositors. Demandable debt attracts funds by giving depositors an option to force liquidation. Its usefulness in transacting follows from information-sharing between monitors and nonmonitors. Copyright 1991 by American Economic Association.
1,390 citations
Related Topics (5)
Performance Metrics
| Year | Papers |
|---|---|
| 2026 | 1 |
| 2025 | 102 |
| 2024 | 114 |
| 2023 | 215 |
| 2022 | 254 |
| 2021 | 124 |