Liquidity Shocks, Banking System Failures, and Supranational Lending of Last Resort Facilities

In a small open economy with a high share of short term foreign currency denominated debt the arrival of some negative information on banks' investment returns may lead to severe bank runs. We analyse how a supranational institution which acts as an international lender of last resort can cope with banking crises by guaranteeing run-proof bank deposit contracts.

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Year of publication:	2005
Authors:	Corrado, Germana
Published in:	Annals of Economics and Finance. - China Economics and Management Academy, ISSN 1529-7373. - Vol. 6.2005, 1, 1, p. 1-24
Publisher:	China Economics and Management Academy
Subject:	Fundamental-based bank runs \| Run-proof deposit contracts \| International lender of last resort

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Classification:	D8 - Information and Uncertainty ; E50 - Monetary Policy, Central Banking and the Supply of Money and Credit. General ; E58 - Central Banks and Their Policies ; F33 - International Monetary Arrangements and Institutions ; F42 - International Policy Coordination and Transmission ; G21 - Banks; Other Depository Institutions; Mortgages ; G28 - Government Policy and Regulation
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009150008