Endorsements The book is a major contribution to the literature on the theory of banking and intermediation. It brings together and synthesizes a broad range of material in an accessible way. I recommend it to all serious scholars and students of the subject. The authors are to be congratulated on a superb achievement.
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Endorsements The book is a major contribution to the literature on the theory of banking and intermediation. It brings together and synthesizes a broad range of material in an accessible way.
I recommend it to all serious scholars and students of the subject. The authors are to be congratulated on a superb achievement. Several decades ago banking was presented in an institutional and descriptive framework, with a few linkages to pure theory. In recent decades analysis of the roles and functions of banking, including such topics as credit rationing, systemic bank panics and regulation , have been re-integrated into mainstream economic theory. This re-integration has been mainly achieved through myriad articles in specialized journals.
Freixas and Rochet have not extracted the essence of the key articles, and have put together a clear, excellently organized and presented graduate text-book which was much needed; there is no good alternative available.
It is the first advanced exposition of banking theory as it has been developped in the s and 90s, it puts an important part of corporate finance on solid microeconomic grounds, and it covers the institutional framework from risk management to regulation.
It is an excellent book for PhD courses in banking, financial institutions, applied contract theory, and corporate finance. I look forward to using it in all of those areas.
Ernst-Ludwig von Thadden Professor of Economics, Universite de Lausanne A comprehensive handbook of modern banking theory, indispensable for any scholar of banking and intermediation. I particularly appreciated the lucid presentation of complex models, that renders the book an essential teaching aid.
Freixas and Rochet make a real contribution to the profession by integrating a disparate but growing literature on intermediation. They show the role that these institutions play in the economy and the complex nature of optional decision making in an imperfect captial market. The book should be required reading for serious students in the area. Anthony M. Santomero, Richard K. It gives an impressive synthesis of an enormous body of research developed over the last twenty years.
It is clearly written and a pleasure to read. What I found particularly useful is the great effort Xavier Freixas and Jean-charles Rochet have taken to systematically integrate the theory of Financial Intermediation into classical Microeconomics and Finance Theory. This book is likely to become essential reading for all graduate students in Economics, Business and Finance.
This work manages to be both rigorous and pleasant to read. Such a book was long overdue and should be required reading for anybody interested in the economics of banking and finance.
Microeconomics of Banking
FREIXAS MICROECONOMICS OF BANKING PDF