"Intermediary asset pricing'' understands asset prices and risk premia through the lens of frictions in financial intermediation. Perhaps motivated by phenomena in the financial crisis, intermediary asset pricing has been one of the fastest growing areas of research in finance. This article explains the theory behind intermediary asset pricing and in particular how it is different from other approaches to asset pricing. The article also covers selective empirical evidence in favor of intermediary asset pricing.

中文翻译：

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中间资产定价与金融危机

“中介资产定价”通过金融中介的摩擦来理解资产价格和风险溢价。也许是受金融危机现象的推动，中介资产定价一直是金融研究领域中发展最快的领域之一。中间资产定价背后的理论，特别是它与其他资产定价方法有何不同，本文还介绍了支持中间资产定价的选择性经验证据。