When is Less More? Bank Arrangements for Liquidity vs Central Bank Support
收藏NBER2025-08-01 更新2025-08-16 收录
下载链接：
https://www.nber.org/papers/w34099
下载链接
链接失效反馈官方服务：
资源简介：
Theory suggests that in the face of fire-sale externalities, banks have incentives to overinvest in order to issue cheap money-like deposit liabilities. The existence of a private market for insurance such as contingent capital can eliminate the overinvestment incentives, leading to efficient
提供机构：
美国国家经济研究局
创建时间：
2025-08-01
