Lemons and money market?

Christian Ewerhart; Patricia Feubli

This paper identifies simple conditions for monotone comparative statics of a unique equilibrium in the Akerlof-Wilson model. Separate conditions apply to trade volume and price. Trade volume increases when supply becomes both stronger and more elastic. In contrast, price decreases when supply becomes both stronger and less elastic. An application to the interbank market suggests surprisingly specific measures to address elevated term rates and market breakdown

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Year of publication:	2010
Authors:	Ewerhart, Christian ; Feubli, Patricia
Publisher:	Genève : Swiss Finance Inst.
Subject:	Akerlof-Wilson model \| Adverse Selektion \| Adverse selection \| Asymmetrische Information \| Asymmetric information \| Preiselastizität \| Price elasticity \| Geldmarkt \| Money market \| Theorie \| Theory

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Extent:	Online-Ressource (PDF-Datei: 32 S.) graph. Darst.
Series:	Research paper series / Swiss Finance Institute. - Geneva, ZDB-ID 2392286-2. - Vol. 10,04 Swiss Finance Institute Research Paper ; No. 10-04
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Systemvoraussetzungen: Acrobat Reader
Other identifiers:	10.2139/ssrn.1540478 [DOI]
Classification:	D82 - Asymmetric and Private Information ; G21 - Banks; Other Depository Institutions; Mortgages ; G01 - Financial Crises
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10003973048