English, Article, Journal or magazine article edition: Competition among Financial Intermediaries and the Risk of Contagious Failures. De Bandt. O.

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Bookmark: http://trove.nla.gov.au/version/148017
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Competition among Financial Intermediaries and the Risk of Contagious Failures.
Author
  • De Bandt. O.
Physical Description
  • preprint
Notes
  • The paper presents a model where financial intermediaries invest in a safe and a risky, two-period asset -with aggregate and idiosyncratic shocks on tire risky asset. The realization of returns is privately observed by banks, which offer deposit contracts, with a promised return at t =​ 1, the level of which depends on the degree of competition in the banking industry. Banks are sensitive .to the propagation of other banks' failures: depositors try to infer the state of the economy.and revise their beliefs after observing too many failures, hence they may watt to rut even on relatively healthy banks.
  • Term structure of interest rates ; Expectations hypothesis ; Error-correction model.
  • RePEc:bfr:banfra:30
Language
  • English
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