CRIS Current Research Information System
IRIS è la soluzione IT che facilita la raccolta e la gestione dei dati relativi alle attività e ai prodotti della ricerca. Fornisce a ricercatori, amministratori e valutatori gli strumenti per monitorare i risultati della ricerca, aumentarne la visibilità e allocare in modo efficace le risorse disponibili.
EnglishWe consider the transitions among intragenerational and alternative intergenerational financing and liquidity risk-sharing mechanisms, in an Overlapping Generations model with endogenous levels of long-lived investments. The existence and characterization of a Self-Sustaining Mechanism, stable across generations, are established. The long-run equilibrium outcome, in a Proposal Game across generations, is shown to depend on the risk-aversion and propensity for early liquidity needs of the agents.
| Titolo: | Financial Intermediation versus Stock Markets in a Dynamic Intertemporal Model | |
| Autore/i: | Bhattacharya S.; Fulghieri P.; ROVELLI, RICCARDO | |
| Autore/i Unibo: | ||
| Anno: | 2004 | |
| Titolo del libro: | Credit, Intermediation and the Macroeconomy | |
| Pagina iniziale: | 198 | |
| Pagina finale: | 224 | |
| Abstract: | We consider the transitions among intragenerational and alternative intergenerational financing and liquidity risk-sharing mechanisms, in an Overlapping Generations model with endogenous levels of long-lived investments. The existence and characterization of a Self-Sustaining Mechanism, stable across generations, are established. The long-run equilibrium outcome, in a Proposal Game across generations, is shown to depend on the risk-aversion and propensity for early liquidity needs of the agents. | |
| Data prodotto definitivo in UGOV: | 19-set-2005 | |
| Appare nelle tipologie: | 2.01 Capitolo / saggio in libro |
File in questo prodotto:
Copyright © 2021