Volatility and financial intermediation

Journal of International Money and Finance

Volumn 22, Issue 5, 2003, Pages 657-679

  Aizenman, Joshua ^a   Powell, Andrew ^b  

^a NATIONAL BUREAU OF ECONOMIC RESEARCH   (United States)

^b UNIVERSIDAD TORCUATO DI TELLA   (Argentina)

Author keywords

Costly financial intermediation; Volatility; Working capital

Indexed keywords

EID: 0042514866     PISSN: 02615606     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0261-5606(03)00047-0     Document Type: Article

References (16)

1. Agenor R. Aizenman J. Contagion and volatility with imperfect credit markets IMF Staff Papers 45 2 1998 207-235
2. Aizenman J. Marion N. Policy uncertainty, persistence and growth Review of International Economics 1 2 1993 145-163
3. Bernanke B. Gertler M. Agency costs, net worth and business fluctuations American Economic Review 79 1 1989 14-31
4. Bulow J. Rogoff K. A constant reconstructing model of sovereign debt Journal of Political Economy 97 1 1989 155-178
5. Calvo, G., Mendoza, E., 1997. Rational herd behavior and the globalization of securities markets, discussion paper 120, Federal Reserve Bank of Minneapolis.
6. Eaton J. Gersovitz M. Stiglitz J. The pure theory of country risk European Economic Review 30 3 1986 481-513
7. Edwards S. Vegh C. Banks and macroeconomics disturbances under predetermined exchange rates Journal of Monetary Economics 40 2 1997 239-278
8. Hausmann R. Gavin M. Overcoming volatility, special report Economic and Social Progress in Latin America 1995 Inter-America Development Bank
9. Ghosal V. Loungani P. Product markets competition and the impact of price uncertainty in investment Journal of Industrial Economics 44 2 1996 217-228
10. Jaffee D. Stiglitz J. Credit rationing In: Friedman B. Hahn F. (Eds.), Handbook of Monetary Economics, vol. 2 1990 837-888 North Holland
11. Pindyck R. Solimano A. Economic instability and aggregate investment NBER Macroeconomics Annual 8 1993 259-302
12. Ramey G. Ramey V. Cross-country evidence on the link between volatility and growth American Economic Review 85 5 1995 1138-1151
13. Sachs J. Tornell A. Velasco A. Financial crises in emerging markets: The lessons from 1995 NBER Working Paper No. 5576 1996
14. Stiglitz J. Weiss A. Credit rationing in markets with imperfect information American Economic Review 71 3 1981 393-410
15. Townsend R. Optimal contracts and competitive markets with costly state verification Journal of Economic Theory 21 2 1979 265-293
16. Williamson S. Costly monitoring, financial intermediation, and equilibrium credit rationing Journal of Monetary Economics 18 2 1986 159-179