Competition vs. Stability : Oligopolistic Banking System with Run Risk /
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 larg...
| المؤلف الرئيسي: | |
|---|---|
| التنسيق: | دورية |
| اللغة: | English |
| منشور في: |
Washington, D.C. :
International Monetary Fund,
2021.
|
| سلاسل: | IMF Working Papers; Working Paper ;
No. 2021/102 |
| الموضوعات: | |
| الوصول للمادة أونلاين: | Full text available on IMF |