haku: @author Aghion, P. / yhteensä: 25
viite: 13 / 25
| Tekijä: | Aghion, P. Bolton, P. Dewatripont, M. |
| Otsikko: | Contagious bank failures in a free banking system |
| Lehti: | European Economic Review
2000 : MAY, VOL. 44:4-6, p. 713-718 |
| Asiasana: | Banking Risk Moral hazard Liquidity Regulations Models |
| Vapaa asiasana: | Insolvency Clearing houses |
| Kieli: | eng |
| Tiivistelmä: | This paper develops a model of an unregulated banking system based around private clearing house arrangement. Whilst such a system may dominate one with a public safety net in reducing moral hazard in lending and therefore the scope for individual bank insolvency, it also increases the likelihood of contagious bank failures following a systemic shock or an aggregate liquidity shortage. |
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