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The paper analyses the relationship between deposit insurance, debt-holder monitoring, and risk taking. In a stylised banking model we show that deposit insurance may reduce moral hazard, if deposit insurance credibly leaves out non-deposit creditors. Testing the model using EU bank level data...
Persistent link: https://www.econbiz.de/10009636525
for pure exchange, sequential economies, with deffinitely many states of private information, an incomplete financial …. Then, we show how a central bank, by deciding on the money supply, may affect the revelation of information at equilibrium. …
Persistent link: https://www.econbiz.de/10009635915
Does schooling generate social returns in excess of the private returns captured by the individual who makes the human capital investment? As a strategy to detect human capital externalities I use Dutch survey data to estimate the impact of the average human capital stock in a region on...
Persistent link: https://www.econbiz.de/10009640175