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| 001 | 9.879713 |
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| 003 | CaOODSP |
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| 005 | 20221107165605 |
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| 006 | m go d f |
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| 007 | cr |n||||||||| |
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| 008 | 190925t20192019oncd #ob f000 0 eng d |
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| 040 | |aCaOODSP|beng|erda|cCaOODSP |
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| 043 | |an-cn--- |
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| 086 | 1 |aFB3-5/2019-37E-PDF |
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| 100 | 1 |aAhnert, Toni, |eauthor. |
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| 245 | 10|aBank runs, portfolio choice, and liquidity provision / |cby Toni Ahnert and Mahmoud Elamin. |
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| 264 | 1|aOttawa : |bBank of Canada, |c2019. |
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| 264 | 4|c©2019 |
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| 300 | |a1 online resource (ii, 47 pages) : |bfigures. |
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| 336 | |atext|btxt|2rdacontent |
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| 337 | |acomputer|bc|2rdamedia |
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| 338 | |aonline resource|bcr|2rdacarrier |
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| 490 | 1 |aBank of Canada staff working paper, |x1701-9397 ; |v2019-37 |
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| 500 | |a"September 2019." |
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| 504 | |aIncludes bibliographical references (pages 27-28). |
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| 520 | |a"We examine the portfolio choice of banks in a micro-funded model of runs. To insure risk averse investors against liquidity risk, competitive banks offer demand deposits. We use global games to link the probability of a bank run to the portfolio choice. Based upon interim information about risky investment, banks liquidate investments to hold a safe asset. This partial hedge against investment risk reduces the withdrawal incentives of investors for a given deposit rate. As a result of the portfolio choice, (i) banks provide more liquidity ex ante (so banks offer a higher deposit rate), and (ii) the welfare of investors increases"--Abstract. |
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| 692 | 07|2gccst|aFinancial institutions |
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| 692 | 07|2gccst|aInvestments |
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| 700 | 1 |aElamin, Mahmoud, |eauthor. |
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| 710 | 2 |aBank of Canada. |
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| 830 | #0|aStaff working paper (Bank of Canada)|x1701-9397 ;|v2019-37.|w(CaOODSP)9.806221 |
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| 856 | 40|qPDF|s1.46 MB|uhttps://publications.gc.ca/collections/collection_2019/banque-bank-canada/FB3-5-2019-37-eng.pdf |
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