S
Stephen D. Williamson
Researcher at University of Western Ontario
Publications - 116
Citations - 4907
Stephen D. Williamson is an academic researcher from University of Western Ontario. The author has contributed to research in topics: Monetary policy & Interest rate. The author has an hindex of 30, co-authored 114 publications receiving 4605 citations. Previous affiliations of Stephen D. Williamson include Federal Reserve System & Washington University in St. Louis.
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Costly monitoring, financial intermediation, and equilibrium credit rationing
TL;DR: This paper established a link between equilibrium credit rationing and financial intermediation, in a model with asymmetrically informed lenders and borrowers, costly monitoring, and investment project indivisibilities.
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Costly Monitoring, Loan Contracts, and Equilibrium Credit Rationing
TL;DR: This paper developed a model with asymmetrically informed agents and costly monitoring of loan contracts, where an equilibrium can exhibit credit rationing, and the aggregate quantity of loans and equilibrium interest rates respond differently depending on whether there is rationing in equilibrium.
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Financial Intermediation, Business Failures, and Real Business Cycles
TL;DR: In this paper, a general-equilibrium business cycle model is constructed that, when subjected to real disturbances, mimics observed qualita tive comovements among real output, money, business failures, risk pr emia, intermediary loans, and prices.
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Currency Elasticity and Banking Panics: Theory and Evidence
TL;DR: In this article, a monetary model is constructed, where seasonal variations in the demand for liquidity and credit play a critical role in generating banking panics, and empirical evidence from Canada and the United States for the period 1880-1910 is largely consistent with the predictions of the model.
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Liquidity, Monetary Policy, and the Financial Crisis: A New Monetarist Approach †
TL;DR: A model of public and private liquidity integrating financial intermediation theory with a New Monetarist monetary framework is presented in this article. But the model is not suitable for the analysis of monetary policy.