| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w10071 |
| 来源ID | Working Paper 10071 |
| Liquidity Shortages and Banking Crises | |
| Douglas W. Diamond; Raghuram G. Rajan | |
| 发表日期 | 2003-11-03 |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | We show in this paper that bank failures can be contagious. Unlike earlier work where contagion stems from depositor panics or ex ante contractual links between banks, we argue bank failures can shrink the common pool of liquidity, creating or exacerbating aggregate liquidity shortages. This could lead to a contagion of failures and a possible total meltdown of the system. Given the costs of a meltdown, there is a possible role for government intervention. Unfortunately, liquidity problems and solvency problems interact and can cause each other, making it hard to determine the root cause of a crisis from observable factors. We propose a robust sequence of intervention. |
| 主题 | Financial Economics ; Financial Institutions ; Macroeconomics ; Monetary Policy |
| URL | https://www.nber.org/papers/w10071 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/567699 |
| 推荐引用方式 GB/T 7714 | Douglas W. Diamond,Raghuram G. Rajan. Liquidity Shortages and Banking Crises. 2003. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w10071.pdf（560KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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