In this paper, we show that abandoning the Diamond and Dybvig hypothesis of a unique bank representing the entire banking system gives rise to the possibility of endogenizing the interbank exchanges. In a system characterized by uncertainty regarding the moment of withdrawal of deposits, access to interbank liquidity decreases the bank risk of failure and bank runs. The possibility, moreover, to invest excess liquidity in the interbank market at a positive interest rate increases expected bank profits.
Brighi, P. (2001). Interbank exchanges, liquidity management and banking crises.
Tipologia: | Altro | |
Citazione: | Brighi, P. (2001). Interbank exchanges, liquidity management and banking crises. | |
Lingua: | en | |
Settore Scientifico Disciplinare: | Settore SECS-P/11 - Economia degli Intermediari Finanziari | |
Data di pubblicazione: | mar-2001 | |
Titolo: | Interbank exchanges, liquidity management and banking crises | |
Autori: | Brighi, Paola | |
Autori: | ||
Appare nelle tipologie: | 99 - Altro |
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