Bank Runs Without Self-fulfilling Prophecies
نویسندگان
چکیده
منابع مشابه
Bis Working Papers Bank Runs without Self-fulfilling Prophecies Monetary and Economic Department
This paper proposes that bank runs are unique equilibrium outcomes instead of self-fulfilling prophecies. By assuming that depositors make their withdrawal decisions sequentially, the model provides an equilibrium-selection mechanism in the economy. A bank run would occur if and only if depositors perceive a low return on bank assets. Furthermore, a panic situation arises only when the market i...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2001
ISSN: 1556-5068
DOI: 10.2139/ssrn.847445