| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12116 |
| DP12116 Sources of Liquidity and Liquidity Shortages | |
| Wolf Wagner; Charles M. Kahn | |
| 发表日期 | 2017-06-28 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | We investigate a model of liquidity sources that incorporates a general equilibrium feature of liquidity: when banks hold more liquidity, other sectors of the economy hold less of it and will consequently supply less in times of crisis. The private allocation of liquidity is inefficient and optimal liquidity regulation depends on the source of liquidity to which it is applied. Our model also identifies a limited role for public provision of liquidity, arising only when there is a general liquidity shortage in the economy but not if the shortage materializes solely in the banking system. |
| 主题 | Financial Economics |
| 关键词 | Liquidity sources Liquidity regulation Public liquidity |
| URL | https://cepr.org/publications/dp12116 |
| 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/540927 |
| 推荐引用方式 GB/T 7714 | Wolf Wagner,Charles M. Kahn. DP12116 Sources of Liquidity and Liquidity Shortages. 2017. |
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