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deposit insurance may serve as a commitment device to limit the safety net and permit monitoring by uninsured subordinated …
Persistent link: https://www.econbiz.de/10009636525
deviate from ex ante specified allocations. We show that it is optimal to employ the technology whenever commitment problems … prevent first-best risk sharing, but never optimal to provide incentives exclusively via this technology. Commitment problems …
Persistent link: https://www.econbiz.de/10009635888