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| Tekijä: | Peck, J. Shell, K. |
| Otsikko: | Equilibrium bank runs |
| Lehti: | Journal of Political Economy
2003 : FEB, VOL. 111:1, p. 103-123 |
| Asiasana: | Banking Bank deposits Models |
| Kieli: | eng |
| Tiivistelmä: | The paper analyzes a banking system in which the class of feasible deposit contracts, or mechanisms, is broad. The mechanisms must satisfy a sequential service constraint, but partial or full suspension of convertibility is allowed. Consumers must be willing to deposit. The paper shows, by examples, that under the so-called “optimal contract”, the postdeposit game can have a run equilibrium. |
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