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| Author: | Marini, F. |
| Title: | Financial intermediation, monitoring, and liquidity |
| Journal: | Oxford Economic Papers
2008 : JUL, VOL. 60:3, p. 440-461 |
| Index terms: | finance liquidity banking capital models |
| Language: | eng |
| Abstract: | This paper presents a theoretical model integrating the two objectives of capital adequacy requirements and deposit insurance, that is, avoiding banking crises and protecting small depositors. The following question is also adderessed: Why do banks fund loans with both equity and demand deposits? The model determines the optimal bank capital structure and identifies the sources of market failure that may justify banking regulation. |
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