Issues in money, banking and herding:
Saved in:
| Main Author: | |
|---|---|
| Format: | Thesis Book |
| Language: | English |
| Published: |
Berlin
dissertation.de
2003
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| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | VIII, 115 S. graph. Darst. |
| ISBN: | 3898255808 |
Staff View
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| 100 | 1 | |a Drehmann, Mathias |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Issues in money, banking and herding |c Mathias Drehmann |
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Record in the Search Index
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| adam_text | Contents
Introduction iii
Motivation iii
Brief Outline of, the Analysis v
Optimal deposit insurance and systemic risk v
Herding.in financial markets. v
Challenges to.currency. vi
1 Optimal deposit insurance and systemic risk 1
1.1 Introduction 1
1.2 The structure of the model 3
1.3 Bank runs 7
1.3.1 Informational bank runs 7
1.3.2 Contagious bank runs 8
1.4 The investment decision of banks 10
1.4.1 The effects of charter value 14
1.5 Welfare and the effects of an optimal deposit insurance 15
1.6 Conclusion 19
1.7 Appendix I 21
1.7.1 Interest rates 21
1.7.2 Conditions that DI decreases financial stability 22
1.7.3 The mode! with informed and uniformed depositors 23
1.7.4 The model with an asset market and liquidation costs 26
2 Herding in financial markets 29
2.1 Introduction 29
2.2 Theoretical predictions 33
2.2.1 The BHW model 33
2.2.2 The Avery/Zemsky model 34
2.3 Experimental design 36
2.3.1 Treatments 36
2.3.2 Recruiting and payment 38
2.3.3 Subject pool 39
2.3.4 Implementation 39
i
ii CONTENTS
2.4 Results 41
2.4.1 Preliminary data analysis 41
2.4.2 Summary statistics 43
2.4.3 Actual versus theoretical prices 45
2.4.4 Possible explanations: no trade, imitation or contrarians? 49
2.4.5 Does it pay to be a contrarian? 53
2.4.6 Two error models to explain contrarian behavior 54
2.4.7 Transaction costs 58
2.4.8 Is the price perceived as a martingale? 59
2.4.9 The influence of personal characteristics 62
2.4.10 Are consultants different? 64
2.5 Conclusion 65
2.6 Appendix II 67
2.6.1 Instructions of the experiment 67
3 Challenges to currency 71
3.1 Introduction 71
3.2 The literature 74
3.3 The theoretical analysis 77
3.4 The empirical analysis 80
3.4.1 Unit root tests 81
3.4.2 Tests for cointegration 82
3.4.3 The determinates of the demand for cash 86
3.5 Conclusion 97
3.6 Appendix III 99
3.6.1 The data 99
3.6.2 The real value of cash outstanding in different countries 100
Bibliography 103
|
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| indexdate | 2024-07-09T19:12:49Z |
| institution | BVB |
| isbn | 3898255808 |
| language | English |
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| physical | VIII, 115 S. graph. Darst. |
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| spelling | Drehmann, Mathias Verfasser aut Issues in money, banking and herding Mathias Drehmann Berlin dissertation.de 2003 VIII, 115 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Zugl.: Bonn, Univ., Diss., 2003 Risikomanagement (DE-588)4121590-4 gnd rswk-swf Bank (DE-588)4004436-1 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Bank (DE-588)4004436-1 s Risikomanagement (DE-588)4121590-4 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=010271208&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Drehmann, Mathias Issues in money, banking and herding Risikomanagement (DE-588)4121590-4 gnd Bank (DE-588)4004436-1 gnd |
| subject_GND | (DE-588)4121590-4 (DE-588)4004436-1 (DE-588)4113937-9 |
| title | Issues in money, banking and herding |
| title_auth | Issues in money, banking and herding |
| title_exact_search | Issues in money, banking and herding |
| title_full | Issues in money, banking and herding Mathias Drehmann |
| title_fullStr | Issues in money, banking and herding Mathias Drehmann |
| title_full_unstemmed | Issues in money, banking and herding Mathias Drehmann |
| title_short | Issues in money, banking and herding |
| title_sort | issues in money banking and herding |
| topic | Risikomanagement (DE-588)4121590-4 gnd Bank (DE-588)4004436-1 gnd |
| topic_facet | Risikomanagement Bank Hochschulschrift |
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