phenomena as the dominance of state-owned banks, the growth of nonbank lending (the so-called shadow banks), and the need to … phenomena as the dominance of state-owned banks, the growth of nonbank lending (the so-called shadow banks), and the need to …

Central Bank setting policy, or (iii) floating exchange rates with each central bank in Asia independently choosing optimal …

link between the liquidity of financial institutions and their default decisions. In it, banks hedge against liquidity … illiquid asset portfolio. I prove three results. First, illiquid banks default in equilibrium only when there is systemic risk …

We report evidence that bank liquidity ratios (liquid assets as a percentage of total assets) decrease during the …) the increasing direct participation of individual investors in them, we build a neoclassical growth model with banks and … markets. In this environment, banks engage in cross-subsidization of the impatient depositors to keep up with the competitive …