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|c 18.00 USD
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|z 9781513582313
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Capelle, Damien.
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|a Competition vs. Stability :
|b Oligopolistic Banking System with Run Risk /
|c Damien Capelle.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2021.
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|a 1 online resource (74 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper develops a model where large financial intermediaries subject to systemic runs internalize the effect of their leverage on aggregate risk, returns and asset prices. Near the steady-state, they restrict leverage to avoid the risk of a run which gives rise to an accelerator effect. For large adverse shocks, the system enters a zone with high leverage and possibly runs. The length of time the system remains in this zone depends on the degree of concentration through a franchise value, price-drop and recapitalization channels. The speed of entry of new banks after a collapse has a stabilizing effect.
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|a Mode of access: Internet
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|a Foreign Exchange
|2 imf
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|a Inflation
|2 imf
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|a Informal Economy
|2 imf
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|a Price Level
|2 imf
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|a Underground Econom
|2 imf
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|a IMF Working Papers; Working Paper ;
|v No. 2021/102
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2021/102/001.2021.issue-102-en.xml
|z IMF e-Library
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