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Web22 de mar. de 2024 · Financial literacy is the cognitive understanding of financial components and skills such as budgeting, investing, borrowing, taxation, and personal … WebLecture 2: The nature of financial intermediation: The issue of why financial intermediaries exist is a puzzle for the “complete markets” paradigm of Arrow and Debreu. As we describe in this lecture, the reasons why intermediaries such as banks exist is related to the various market failures which vitiate the complete markets paradigm. In east grips
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