• Print
  • Email

Working Paper, No. 2000-19, 2000
Financial-Intermediation Regime and Efficiency in a Boyd-Prescott Economy
We examine the relationship among a liberal nancial-market regime, asset-by-asset supervisory assessment of intermediaries' portfolios, and economic efficiency. We show that, in Boyd and Prescott's (JET 1986) model of nancial intermediary coalitions, asset-by-asset supervisory assessment in a liberal regime is ineÆcient for some, but not all, parameters of the economy.

Federal Reserve Bank of Chicago, 230 South LaSalle Street, Chicago, Illinois 60604-1413, USA. Tel. (312) 322-5322

Copyright © 2020. All rights reserved.

Please review our Privacy Policy | Legal Notices