LEADER 02848nam 2200589Ia 450 001 9910464014103321 005 20181115204849.0 010 $a1-4623-6889-1 010 $a1-4527-8538-4 010 $a1-4518-7252-6 010 $a9786612843204 010 $a1-282-84320-6 035 $a(CKB)3170000000055261 035 $a(EBL)1608284 035 $a(SSID)ssj0000940810 035 $a(PQKBManifestationID)11528535 035 $a(PQKBTitleCode)TC0000940810 035 $a(PQKBWorkID)10955754 035 $a(PQKB)10049287 035 $a(OCoLC)645463594 035 $a(MiAaPQ)EBC1608284 035 $a(EXLCZ)993170000000055261 100 $a20041202d2009 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aFinancial intermediation, competition, and risk$b[electronic resource] $ea general equilibrium exposition /$fprepared by Gianni De Nicolo and Marcella Lucchetta 210 $a[Washington D.C.] $cInternational Monetary Fund$d2009 215 $a1 online resource (31 p.) 225 1 $aIMF working paper ;$vWP/09/105 300 $aDescription based upon print version of record. 311 $a1-4519-1682-5 320 $aIncludes bibliographical references. 327 $aTable of Contents; I. Introduction; II. The Basic Model; A. Time, Endowments and Preferences; B. Technologies; C. Contracts and Information; III. Equilibrium with Banks and Depositors; A. Moral Hazard; B. No Moral Hazard; IV. Optimality and Intermediary Rents; V. Equilibrium with Firms, Intermediaries and Depositors; A. The Extended Model; B. Perfectly Correlated Projects; C. Independent Projects; VI. Conclusion; Appendix; References 330 $aWe study a simple general equilibrium model in which investment in a risky technology is subject to moral hazard and banks can extract market power rents. We show that more bank competition results in lower economy-wide risk, lower bank capital ratios, more efficient production plans and Pareto-ranked real allocations. Perfect competition supports a second best allocation and optimal levels of bank risk and capitalization. These results are at variance with those obtained by a large literature that has studied a similar environment in partial equilibrium. Importantly, they are empirically rele 410 0$aIMF working paper ;$vWP/09/105. 606 $aIntermediation (Finance) 606 $aCompetition 608 $aElectronic books. 615 0$aIntermediation (Finance) 615 0$aCompetition. 700 $aDe Nicolo?$b Gianni$0375199 701 $aLucchetta$b Marcella$0872382 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910464014103321 996 $aFinancial intermediation, competition, and risk$91947656 997 $aUNINA LEADER 01255oam 2200349z- 450 001 9910143028603321 005 20241212215532.0 010 $a9781509082858 010 $a1509082859 035 $a(CKB)1000000000331515 035 $a(EXLCZ)991000000000331515 100 $a20220614c2007uuuu -u- - 101 0 $aeng 200 10$a2007 15th IEEE Workshop on Local and Metropolitan Area Networks $eNew York, NY, 10-13 June 2007 210 $cIEEE 311 08$a9781424410996 311 08$a1424410991 311 08$a9781424411009 311 08$a1424411009 517 $aPlasma Science 517 $a2007 15th IEEE Workshop on Local & Metropolitan Area Networks 531 $aLOCAL AND METROPLITAN AREA NETWORKS, 2007 15TH IEEE WORKSHOP ON 606 $aLocal area networks (Computer networks)$vCongresses 606 $aMetropolitan area networks (Computer networks)$vCongresses 615 0$aLocal area networks (Computer networks) 615 0$aMetropolitan area networks (Computer networks) 676 $a004.6/8 712 02$aInstitute of Electrical and Electronics Engineers. 906 $aPROCEEDING 912 $a9910143028603321 996 $a2007 15th IEEE Workshop on Local and Metropolitan Area Networks$92870655 997 $aUNINA