Competition and Finance
Competition and Finance offers a new, unified treatment of the fields of financial and monetary economics. The first part integrates recent developments in agency theory and information economics into a unified financial theory of the firm. A review of recent developments in the economics of banking and then monetary economics leads to a conclusion assessing present-day systems of central banking and proposing financial and monetary reform.
Table of Contents
Preface
Introduction
Bilateral Financial Contracts
Capital Structure and Corporate Financial Policy
Why Financial Intermediaries Exist
Broker Intermediaries
Mutual Fund Intermediaries
The Structure of the Banking Industry
Recent Models of Banking Instability
Media of Exchange and Payment Systems
The Economics of the Unit of Account
The Mechanics of Convertibility
Real Bills Systems
Monometallic, Bimetallic and Related Monetary Standards
Commodity-Basket Monetary Standards
Tabular Standards
Price-Level Optimality
Financial and Monetary Reform
References