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We survey the theories of why banks promise to pay par on demand and examine evidence about the conditions under which banks have promised to pay the par value of deposits and banknotes on demand when holding only fractional reserves. The theoretical literature can be broadly divided into four...
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We survey the extant theories on why banks promise to pay par on demand and examine historical evidence on the conditions under which banks have promised to pay the par value of deposits and banknotes on demand when holding only fractional reserves. The theoretical literature can be broadly...
Persistent link: https://www.econbiz.de/10005085477
This paper presents a model consistent with the business cycle view of the origins of banking panics. As in Allen and Gale (1998), bank runs arise endogenously as a consequence of the standard deposit contract in a world with aggregate uncertainty about asset returns. The purpose of the paper is...
Persistent link: https://www.econbiz.de/10005091561
Este trabajo analiza, en primer lugar, las características de la participación de las entidades de crédito en estructuras con varios grandes accionistas. Un segundo aspecto, que es lo más novedoso del artículo, muestra como la participación bancaria en las empresas con varios grandes...
Persistent link: https://www.econbiz.de/10005196598
This paper incorporates costly voluntary acquisition of information à la Nikitin and Smith (2007) [Nikitin, M., Smith, R.T., 2007. Information acquisition, coordination, and fundamentals in a financial crisis. Journal of Banking and Finance, in press, doi:10.1016/j.jbankfin.2007.04.031], in a...
Persistent link: https://www.econbiz.de/10005201521
Theoretical banking literature has largely explored the role of financial intermediaries in the economy, market failures (banking panics) in the banking sector and the need for bank regulation. However, most models of banking panics and regulation have not been empirically tested. The Argentine...
Persistent link: https://www.econbiz.de/10005249551
El objeto de este trabajo es presentar una panorámica de algunos temas relevantes en el campo de la economía bancaria, que resultan ser de particular importancia, tanto por su relevancia empírica como por la contribución aportada al desarrollo teórico de esta materia. Se presentan también...
Persistent link: https://www.econbiz.de/10005249657