Liquidity Creation through Banks and Markets : Multiple Insurance and Limited Market Access

The paper surveys theories of the intertemporal allocation of funds through demand deposits and anonymous markets, first separately and then in an integrated model. It reviews some work on the role of market frictions and asset characteristics, and suggests that the interplay between these two is crucial in explaining the observed coexistence of demand deposits and anonymous markets.

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Year of publication:	1998-11
Authors:	THADDEN, Ernst-Ludwig VON
Institutions:	Départment d'économétrie et d'économie politique (DEEP), Faculté des Hautes Études Commerciales (HEC)
Subject:	banks \| markets \| liquidity \| demand deposits \| incentive compatibility

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Extent:	application/pdf
Series:	Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP).
Type of publication:	Book / Working Paper
Notes:	Published in European Economic Review, vol. 43, 1999, pp. 991-1006 18 pages
Classification:	D50 - General Equilibrium and Disequilibrium. General ; G21 - Banks; Other Depository Institutions; Mortgages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005292675