; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "International Financial Intermediation and Aggregate Fluctuations Under Alternative Exchange Rate Regimes"; ; "batchuser@example.com"; "Greenwood, Jeremy, 1953-", "Williamson, Stephen D."; "Federal Reserve Bank of Minneapolis"; "Economic models", "Business cycles", "Generations", "Exchange rate", "Financial policy "; "E32 - Business Fluctuations; Cycles", "F41 - Open Economy Macroeconomics"; "A two country overlapping generations model is constructed, in which financial intermediation arises endogenously as an incentive compatible means of economizing on monitoring costs. Because of international credit markets. The model is used to generate the existence of transaction costs, money markets in the two countries are segmented and investors have differential access to predictions concerning the role of international intermediation in economic development, and to examine the nature of business cycle phenomena across alternative exchange rate regimes. Disturbances are propagated by a credit allocation mechanism, which also lends a novel flavor to the model's long run properties."^^; "1987-11"; "2018-03-13T20:48:22.384928824+00:00"^^; "https://doi.org/10.21034/wp.363"; ; "19880200fedmsr112"; "https://creativecommons.org/licenses/by-nc/4.0/"; "2020-06-05T20:55:19.03680783+00:00"^^; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "847", "296"; "Working paper (Federal Reserve Bank of Minneapolis. Research Department)"; "363"; "Economic models", "Business cycles", "Financial policy ", "Exchange rate", "Generations"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; """Published in _Journal of Monetary Economics_ (vol. 23, iss. 3, May 1989, pp. 401-431), https://doi.org/10.1016/0304-3932(89)90040-8. An updated version of this paper is available as [Staff Report 112](https://doi.org/10.21034/sr.112)."""^^; ; "Publication" . ; .