1. kafli - Introduction 1.1- Finance: The Time Dimension...

Info iconThis preview shows pages 1–7. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Introduction 1.1- Finance: The Time Dimension 1.2- Desynchronization: The Risk Dimension 1.3- The Screening and Monitoring Functions of the Financial System 1.4- The Financial System and Economic Growth 1.5- Financial Intermediation and the Business Cycle 1.6- Financial Markets and Social Welfare 1.7 Conclusions Intermediate Financial Theory Chapter I. On the Role of Financial Markets and Institutions Jean-Pierre Danthine 12th September 2007 Jean-Pierre Danthine Intermediate Financial Theory Introduction 1.1- Finance: The Time Dimension 1.2- Desynchronization: The Risk Dimension 1.3- The Screening and Monitoring Functions of the Financial System 1.4- The Financial System and Economic Growth 1.5- Financial Intermediation and the Business Cycle 1.6- Financial Markets and Social Welfare 1.7 Conclusions Main Message Worth stepping back and asking yourselves: Does finance make sense on social grounds? What functions do financial markets/instruments really fulfill? Jean-Pierre Danthine Intermediate Financial Theory Introduction 1.1- Finance: The Time Dimension 1.2- Desynchronization: The Risk Dimension 1.3- The Screening and Monitoring Functions of the Financial System 1.4- The Financial System and Economic Growth 1.5- Financial Intermediation and the Business Cycle 1.6- Financial Markets and Social Welfare 1.7 Conclusions Main Tool to be used in the rest of the course General equilibrium theory: section 1.6 + appendix Jean-Pierre Danthine Intermediate Financial Theory Introduction 1.1- Finance: The Time Dimension 1.2- Desynchronization: The Risk Dimension 1.3- The Screening and Monitoring Functions of the Financial System 1.4- The Financial System and Economic Growth 1.5- Financial Intermediation and the Business Cycle 1.6- Financial Markets and Social Welfare 1.7 Conclusions 1.1 Finance: The Time Dimension Borrow and save: to achieve consumption stream smoother than income stream Jean-Pierre Danthine Intermediate Financial Theory Introduction 1.1- Finance: The Time Dimension 1.2- Desynchronization: The Risk Dimension 1.3- The Screening and Monitoring Functions of the Financial System 1.4- The Financial System and Economic Growth 1.5- Financial Intermediation and the Business Cycle 1.6- Financial Markets and Social Welfare 1.7 Conclusions 1.2- Desynchronization: The Risk Dimension Diversify, insure, hedge: to achieve smooth consumption across states of nature Jean-Pierre Danthine Intermediate Financial Theory Introduction 1.1- Finance: The Time Dimension 1.2- Desynchronization: The Risk Dimension 1.3- The Screening and Monitoring Functions of the Financial System 1.4- The Financial System and Economic Growth 1.5- Financial Intermediation and the Business Cycle 1.6- Financial Markets and Social Welfare 1.7 Conclusions 1.3- The Screening and Monitoring Functions of the Financial System Finance: a lot more: incentive issues raised by asymmetric information Ch. 15 Corporate Finance: see chapter 2 Jean-Pierre Danthine Intermediate Financial Theory Introduction...
View Full Document

Page1 / 20

1. kafli - Introduction 1.1- Finance: The Time Dimension...

This preview shows document pages 1 - 7. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online