G2TT
来源类型Discussion paper
规范类型论文
来源IDDP1206
DP1206 Real Business Cycles with Involuntary Unemployment
Jordi Gali
发表日期1995-06-30
出版年1995
语种英语
摘要We develop a model of banking competition which allows us to disentangle the roles that limited liability, deposit insurance (both with flat and risk-based premia), and rivalry for deposits play in determining risk-taking incentives both in the asset and the liability side of the balance sheet. We find that in all market configurations (uninsured or insured) banking rivalry yields excessive deposit rates when social failure costs are high or when competition is intense. Maximal risk-taking incentives (on the liability and asset sides) exist with flat-premium deposit insurance and minimal with risk-based insurance. In an uninsured market risk taking on the asset side is implied by limited liability and the presence of moral hazard (asset risk not observable). With flat-premium deposit insurance maximum risk-taking incentives exist even if there is no moral hazard. Finally, we can extricate the role of rate and asset regulation both in the case of insured and uninsured deposits.
主题Financial Economics
关键词Asset restrictions Excessive competition Investor protection Limited liability Rate regulation Risk taking
URLhttps://cepr.org/publications/dp1206
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/530342
推荐引用方式
GB/T 7714
Jordi Gali. DP1206 Real Business Cycles with Involuntary Unemployment. 1995.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Jordi Gali]的文章
百度学术
百度学术中相似的文章
[Jordi Gali]的文章
必应学术
必应学术中相似的文章
[Jordi Gali]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。