| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27815 |
| 来源ID | Working Paper 27815 |
| Liquidity Transformation and Fragility in the US Banking Sector | |
| Qi Chen; Itay Goldstein; Zeqiong Huang; Rahul Vashishtha | |
| 发表日期 | 2020-09-14 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We provide the first large-scale evidence that liquidity transformation by banks creates fragility, as uninsured depositors face an incentive to withdraw money before others (a so-called panic run). Such fragility manifests itself in stronger sensitivity of deposit flows to bank performance. The fragility is stronger when the aggregate conditions in the banking system deteriorate. Multiple analyses show that depositors’ motives are not driven purely by fundamentals, but reflect an element of panic. We analyze the tradeoff banks face when setting their level of liquidity transformation, and show how they use deposit insurance to mitigate some of its negative effects. |
| 主题 | Macroeconomics ; Financial Economics ; Financial Institutions |
| URL | https://www.nber.org/papers/w27815 |
| 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/585487 |
| 推荐引用方式 GB/T 7714 | Qi Chen,Itay Goldstein,Zeqiong Huang,et al. Liquidity Transformation and Fragility in the US Banking Sector. 2020. |
| 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 | ||
| w27815.pdf（964KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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