G2TT
来源类型Discussion paper
规范类型论文
来源IDDP11947
DP11947 Deposit Insurance and Reinsurance: A General Equilibrium Perspective
Hans Gersbach; Volker Britz; Hans Haller
发表日期2017-03-29
出版年2017
语种英语
摘要We study the consequences and optimal design of bank deposit insurance and reinsurance in a general equilibrium setting. The model involves two production sectors. One sector is financed by issuing bonds to risk–averse households. Firms in the other sector are monitored and financed by banks. Households fund banks through deposits and equity. Deposits are explicitly insured by a deposit insurance fund. Any remaining shortfall is implicitly guaranteed by the government. The deposit insurance fund charges banks a premium per unit of deposits whereas the government finances any necessary bail-outs by lump-sum taxation of households. When the deposit insurance premium is actuarially fair or higher than actuarially fair, two types of equilibria emerge: One type of equilibria supports the Pareto optimal allocation, and the other type does not. In the latter case, bank lending is too large relative to equity and the probability that the banking system collapses is positive. Next, we show that a judicious combination of deposit insurance and reinsurance eliminates all non–optimal equilibrium allocations. Our paper provides a benchmark result for policy proposals that advocate deposit insurance cum reinsurance.
主题Financial Economics
关键词Financial intermediation Deposit insurance Capital structure General equilibrium Reinsurance
URLhttps://cepr.org/publications/dp11947
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/540759
推荐引用方式
GB/T 7714
Hans Gersbach,Volker Britz,Hans Haller. DP11947 Deposit Insurance and Reinsurance: A General Equilibrium Perspective. 2017.
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