| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3780 |
| DP3780 Interpreting European and US Labour Market Differences: The Specificity of Human Capital Investments | |
| Etienne Wasmer | |
| 发表日期 | 2003-01-23 |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | This Paper presents a dynamic model of imperfect competition in banking where banks can invest in a prudent or a gambling asset. We show that if intermediation margins are small, the banks? franchise values will be small, and in the absence of regulation only a gambling equilibrium will exist. In this case, either flat-rate capital requirements or binding deposit rate ceilings can ensure the existence of a prudent equilibrium, although both have a negative impact on deposit rates. Such impact does not obtain with either risk-based capital requirements or non-binding deposit rate ceilings, but only the former are always effective in controlling risk-shifting incentives. |
| 主题 | Financial Economics |
| 关键词 | Bank regulation Capital requirements Deposit rate ceilings Moral hazard Risk-shifting Imperfect competition Franchise values |
| URL | https://cepr.org/publications/dp3780 |
| 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/532705 |
| 推荐引用方式 GB/T 7714 | Etienne Wasmer. DP3780 Interpreting European and US Labour Market Differences: The Specificity of Human Capital Investments. 2003. |
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