Credit, Intermediation, and the Macroeconomy

Understanding the functioning of the financial sector--and the intermediary institutions comprising it--is of major importance in analysing the allocational efficiency of modern economies, the sources of fluctuations within them, and the possible crises inherent in their structure of interlinkages. This collection of papers, substantial editorial, and discussions by eminent economists brings together some of the most important research in the area of financial theory from the past fifteen years.