| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21892 |
| 来源ID | Working Paper 21892 |
| Wholesale Banking and Bank Runs in Macroeconomic Modelling of Financial Crises | |
| Mark Gertler; Nobuhiro Kiyotaki; Andrea Prestipino | |
| 发表日期 | 2016-01-18 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | There has been considerable progress in developing macroeconomic models of banking crises. However, most of this literature focuses on the retail sector where banks obtain deposits from households. In fact, the recent financial crisis that triggered the Great Recession featured a disruption of wholesale funding markets, where banks lend to one another. Accordingly, to understand the financial crisis as well as to draw policy implications, it is essential to capture the role of wholesale banking. The objective of this paper is to characterize a model that can be seen as a natural extension of the existing literature that provides a step toward accomplishing this objective. The model accounts for both the buildup and collapse of wholesale banking, and also sketches out the transmission of the crises to the real sector. We also draw out the implications of possible instaibility in the wholesale banking sector for lender-of-last resort policy as well as for macroprudential policy. |
| 主题 | Macroeconomics ; Money and Interest Rates |
| URL | https://www.nber.org/papers/w21892 |
| 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/579567 |
| 推荐引用方式 GB/T 7714 | Mark Gertler,Nobuhiro Kiyotaki,Andrea Prestipino. Wholesale Banking and Bank Runs in Macroeconomic Modelling of Financial Crises. 2016. |
| 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 | ||
| w21892.pdf（1238KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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