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Can a wealth shift to emerging countries explain instability in developed countries? Investors exposed to political risk seek safety in countries with better property right protection. This induces private intermediaries to offer safety via inexpensive demandable debt, and increase lending into...
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What is the effect of Central Bank Digital Currency (CBDC) on financial stability? We answer this question by studying a model of financial intermediation with an endogenously determined probability of a bank run, using global games. As an alternative to bank deposits, consumers can also store...
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components for a large data set comprising the U.S., the EU-27 area, and the respective rest of the world. Credit risk conditions …
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We offer a theory of financial c ontagion b ased o n t he i nformation c hoice o f i nvestors after observing a …
Persistent link: https://www.econbiz.de/10013189252
We analyse the poisonous interaction between bank rescues, financial fragility and sovereign debt discounts. In our model balance sheet constrained financial intermediaries finance both capital expenditure of intermediate goods producers and government deficits. The financial intermediaries face...
Persistent link: https://www.econbiz.de/10010224776