| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP16880
|
| DP16880 A Theory of the Boundaries of Banks with Implications for Financial Integration and Regulation |
| Falko Fecht; Roman Inderst
|
| 发表日期 | 2022-01-11
|
| 出版年 | 2022
|
| 语种 | 英语
|
| 摘要 | We offer a theory of the "boundary of the firm" tailored to banks as it builds on a single risk-shifting inefficiency and takes into account interbank lending, as an alternative to integration, and insured deposit financing. It explains why deeper economic integration should cause also greater, though still incomplete, financial integration, through both bank mergers and interbank lending, and why economic disintegration, as currently witnessed in the European Union, should cause less interbank exposure. Recent policy measures such as the preferential treatment of retail deposits, the extension of deposit insurance, or penalties on "connectedness" could reduce welfare. |
| 主题 | Financial Economics
; Industrial Organization
|
| 关键词 | Interbank lending
Risk shifting
Debt overhang
Integration
Deposit insurance
|
| URL | https://cepr.org/publications/dp16880
|
| 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/545808
|
推荐引用方式
GB/T 7714 |
Falko Fecht,Roman Inderst. DP16880 A Theory of the Boundaries of Banks with Implications for Financial Integration and Regulation. 2022.
|
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