|
000
| 01935cam 2200349zi 4500 |
|---|
| 001 | 9.879713 |
|---|
| 003 | CaOODSP |
|---|
| 005 | 20221107165605 |
|---|
| 006 | m go d f |
|---|
| 007 | cr |n||||||||| |
|---|
| 008 | 190925t20192019oncd #ob f000 0 eng d |
|---|
| 040 | |aCaOODSP|beng|erda|cCaOODSP |
|---|
| 043 | |an-cn--- |
|---|
| 086 | 1 |aFB3-5/2019-37E-PDF |
|---|
| 100 | 1 |aAhnert, Toni, |eauthor. |
|---|
| 245 | 10|aBank runs, portfolio choice, and liquidity provision / |cby Toni Ahnert and Mahmoud Elamin. |
|---|
| 264 | 1|aOttawa : |bBank of Canada, |c2019. |
|---|
| 264 | 4|c©2019 |
|---|
| 300 | |a1 online resource (ii, 47 pages) : |bfigures. |
|---|
| 336 | |atext|btxt|2rdacontent |
|---|
| 337 | |acomputer|bc|2rdamedia |
|---|
| 338 | |aonline resource|bcr|2rdacarrier |
|---|
| 490 | 1 |aBank of Canada staff working paper, |x1701-9397 ; |v2019-37 |
|---|
| 500 | |a"September 2019." |
|---|
| 504 | |aIncludes bibliographical references (pages 27-28). |
|---|
| 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. |
|---|
| 692 | 07|2gccst|aFinancial institutions |
|---|
| 692 | 07|2gccst|aInvestments |
|---|
| 700 | 1 |aElamin, Mahmoud, |eauthor. |
|---|
| 710 | 2 |aBank of Canada. |
|---|
| 830 | #0|aStaff working paper (Bank of Canada)|x1701-9397 ;|v2019-37.|w(CaOODSP)9.806221 |
|---|
| 856 | 40|qPDF|s1.46 MB|uhttps://publications.gc.ca/collections/collection_2019/banque-bank-canada/FB3-5-2019-37-eng.pdf |
|---|