Bank Risk Within and Across Equilibria:
The global financial crisis highlighted that the financial system can be most vulnerable when it seems most stable. This paper models non-linear dynamics in banking. Small shocks can lead from an equilibrium with few bank defaults straight to a full freeze. The mechanism is based on amplification be...
Gespeichert in:
1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2014
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Schriftenreihe: | IMF Working Papers
Working Paper No. 14/116 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers |
Zusammenfassung: | The global financial crisis highlighted that the financial system can be most vulnerable when it seems most stable. This paper models non-linear dynamics in banking. Small shocks can lead from an equilibrium with few bank defaults straight to a full freeze. The mechanism is based on amplification between adverse selection on banks' funding market and moral hazard in bank monitoring. Our results imply trade-offs between regulators' microprudential desire to shield individual weak banks and the macroprudential consequences of doing so. Moreover, limiting bank reliance on wholesale funding always reduces systemic risk, but limiting the correlation between bank portfolios does not |
Beschreibung: | 1 Online-Ressource (37 p) |
ISBN: | 1498306519 9781498306515 |
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index_date | 2024-07-03T20:13:35Z |
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spelling | Agur, Itai Verfasser aut Bank Risk Within and Across Equilibria Agur, Itai Washington, D.C International Monetary Fund 2014 1 Online-Ressource (37 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 14/116 The global financial crisis highlighted that the financial system can be most vulnerable when it seems most stable. This paper models non-linear dynamics in banking. Small shocks can lead from an equilibrium with few bank defaults straight to a full freeze. The mechanism is based on amplification between adverse selection on banks' funding market and moral hazard in bank monitoring. Our results imply trade-offs between regulators' microprudential desire to shield individual weak banks and the macroprudential consequences of doing so. Moreover, limiting bank reliance on wholesale funding always reduces systemic risk, but limiting the correlation between bank portfolios does not Online-Ausg http://elibrary.imf.org/view/IMF001/21453-9781498306515/21453-9781498306515/21453-9781498306515.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Agur, Itai Bank Risk Within and Across Equilibria |
title | Bank Risk Within and Across Equilibria |
title_auth | Bank Risk Within and Across Equilibria |
title_exact_search | Bank Risk Within and Across Equilibria |
title_exact_search_txtP | Bank Risk Within and Across Equilibria |
title_full | Bank Risk Within and Across Equilibria Agur, Itai |
title_fullStr | Bank Risk Within and Across Equilibria Agur, Itai |
title_full_unstemmed | Bank Risk Within and Across Equilibria Agur, Itai |
title_short | Bank Risk Within and Across Equilibria |
title_sort | bank risk within and across equilibria |
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