Two leading economists develop a theory explaining the demand for and supply of liquid assets. Why do financial institutions, industrial companies, and househol

This open access book addresses four standard business school subjects: microeconomics, macroeconomics, finance and information systems as they relate to tradin

The recent turmoil on financial markets has made evident the importance of efficient liquidity risk management for the stability of banks. The measurement and m

Tirole analyzes the current views on financial crises and on the reform of the international financial architecture. Based on the Paolo Baffi Lecture the author

This book provides a framework for thinking about economic instiutions such as firms. The basic idea is that institutions arise in situations where people write