Why High Leverage is Optimal for Banks
收藏NBER2013-06-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w19139
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资源简介：
Liquidity production is a central role of banks. We show that, under idealized conditions, high leverage is optimal for banks when there is a market premium for (socially valuable) liquid financial claims and no deviations from Modigliani and Miller (1958) due to agency problems, deposit insurance,
提供机构：
美国国家经济研究局
创建时间：
2013-06-01
