| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26298 |
| 来源ID | Working Paper 26298 |
| Money Runs | |
| Jason R. Donaldson; Giorgia Piacentino | |
| 发表日期 | 2019-09-23 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | We develop a model in which, as in practice, bank debt is both a financial security used to raise funds and a kind of money used to facilitate trade. This dual role of bank debt provides a new rationale for why banks do what they do. In the model, banks endogenously perform the essential functions of real-world banks: they transform liquidity, transform maturity, pool assets, and have dispersed depositors. Moreover, they make their debt redeemable on demand. Thus, they are endogenously fragile. We show novel effects of narrow banking, suspension of convertibility, and some other policies. |
| 主题 | Financial Economics ; Financial Institutions |
| URL | https://www.nber.org/papers/w26298 |
| 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/583970 |
| 推荐引用方式 GB/T 7714 | Jason R. Donaldson,Giorgia Piacentino. Money Runs. 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 | ||
| w26298.pdf（484KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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