| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w25891 |
| 来源ID | Working Paper 25891 |
| The Regulation of Private Money | |
| Gary B. Gorton | |
| 发表日期 | 2019-06-03 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | Financial crises are bank runs. At root the problem is short-term debt (private money), which while an essential feature of market economies, is inherently vulnerable to runs in all its forms (not just demand deposits). Bank regulation aims at preventing bank runs. History shows two approaches to bank regulation: the use of high quality collateral to back banks’ short-term debt and government insurance for the short-term debt. Also, explicit or implicit limitations on entry into banking can create charter value (an intangible asset) that is lost if the bank fails. This can create an incentive for the bank to abide by the regulations and not take too much risk. |
| 主题 | Financial Economics ; Financial Institutions |
| URL | https://www.nber.org/papers/w25891 |
| 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/583565 |
| 推荐引用方式 GB/T 7714 | Gary B. Gorton. The Regulation of Private Money. 2019. |
| 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 | ||
| w25891.pdf（350KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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