haku: @author Rajan, R. G. / yhteensä: 7
viite: 3 / 7
| Tekijä: | Diamond, D. W. Rajan, R. G. |
| Otsikko: | Liquidity risk, liquidity creation, and financial fragility: a theory of banking |
| Lehti: | Journal of Political Economy
2001 : APR, VOL. 109:2, p. 287-327 |
| Asiasana: | BANKING LIQUIDITY LOANS |
| Kieli: | eng |
| Tiivistelmä: | Loans are illiquid when a lender needs relationship-specific skills to collect them. Consequently, if the relationship lender needs funds before the loan matures, she may demand to liquidate early, or require a return premium, when she lends directly. Borrowers also risk losing funding. The costs of illiquidity are avoided if the relationship lender is a bank with a fragile capital structure, subject to runs. |
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