Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/162923 
Autor:innen: 
Erscheinungsjahr: 
2016
Schriftenreihe/Nr.: 
Working Paper No. 2016-01
Verlag: 
Rutgers University, Department of Economics, New Brunswick, NJ
Zusammenfassung: 
What configuration of asset returns will make the banking system most susceptible to a self-fulfilling run? I study this question in a version of the model of Diamond and Dybvig (1983) with limited commitment and a non-trivial portfolio choice. I show that the relationship between the returns on banks´ assets and financial fragility is often non-monotone: a higher return may make banks either more or less susceptible to a run by depositors. The same is true for changes in the liquidation cost and the term premium. I derive precise conditions under which changes in each of these returns increase or decrease financial fragility.
Schlagwörter: 
financial fragility
bank runs
excess liquidity
JEL: 
G11
G21
Dokumentart: 
Working Paper

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