TY - BOOK ID - 84541493 TI - Private Finance and Public Policy PY - 2004 SN - 1462306527 1452720967 1282110497 145189970X 9786613803382 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Finance, Public. KW - Fiscal policy. KW - Public goods. KW - Goods, Public KW - Finance, Public KW - Welfare economics KW - Free rider problem (Economics) KW - Tax policy KW - Taxation KW - Economic policy KW - Cameralistics KW - Public finance KW - Public finances KW - Currency question KW - Government policy KW - Banks and Banking KW - Finance: General KW - Macroeconomics KW - Industries: Financial Services KW - Information and Market Efficiency KW - Event Studies KW - General Financial Markets: Government Policy and Regulation KW - Monetary Systems KW - Standards KW - Regimes KW - Government and the Monetary System KW - Payment Systems KW - Financial Markets and the Macroeconomy KW - Money Supply KW - Credit KW - Money Multipliers KW - Central Banks and Their Policies KW - Incomplete Markets KW - Allocative Efficiency KW - Cost-Benefit Analysis KW - Externalities KW - Asymmetric and Private Information KW - Public Goods KW - Banks KW - Depository Institutions KW - Micro Finance Institutions KW - Mortgages KW - Macroeconomics: Consumption KW - Saving KW - Wealth KW - Portfolio Choice KW - Investment Decisions KW - Aggregate Factor Income Distribution KW - Finance KW - Banking KW - Financial sector stability KW - Consumption KW - Liquidity KW - Loans KW - Financial sector policy and analysis KW - National accounts KW - Financial institutions KW - Asset and liability management KW - Purchasing power KW - Banks and banking KW - Financial services industry KW - Economics KW - Income KW - United States UR - https://www.unicat.be/uniCat?func=search&query=sysid:84541493 AB - This paper articulates a logical foundation-drawn from disparate literatures-for understanding why safeguarding financial stability is an important economic policy objective. The paper also explains why private aspects of finance provide broader social economic benefits and have the characteristics of public goods. Unique aspects of finance are examined, as are the linkages between finance, money, and the real economy. Sources of market imperfections in finance are identified and their implications are analyzed. The arguments imply that reaping the full private and social economic benefits of finance requires both private-collective and public-policy involvement as well as a delicate balance between maximizing the benefits of positive externalities (and public goods) and minimizing the costs (including potential instabilities) of other sources of market imperfections in finance. ER -