Banking, Liquidity, and Bank Runs in an Infinite Horizon Economy
Banking, Liquidity, and Bank Runs in an Infinite Horizon Economy
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Publisher
Nashville: American Economic Association
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Language
English
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Nashville: American Economic Association
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Contents
We develop an infinite horizon macroeconomic model of banking that allows for liquidity mismatch and bank runs. Whether a bank run equilibrium exists depends on bank balance sheets and an endogenous liquidation price for bank assets. While in normal times a bank run equilibrium may not exist, the possibility can arise in recessions. A run leads to...
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Full title
Banking, Liquidity, and Bank Runs in an Infinite Horizon Economy
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TN_cdi_proquest_miscellaneous_1698955706
Permalink
https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_proquest_miscellaneous_1698955706
Other Identifiers
ISSN
0002-8282
E-ISSN
1944-7981
DOI
10.1257/aer.20130665
