Im klassischen Modell von Diamond und Dybvig (1983) werden Bank-runs durch sich selbst erfüllende pessimistische Erwartungen der Anleger provoziert. Sie sind damit ein Sonnenflecken-Phänomen. Die spekulativen Runs können u.a. durch eine Einlagenversicherung vermieden werden. Allerdings...

In this paper a modified version of Bernanke and Blinder�s (1988) model of the bank lending channel of monetary policy under asymmetric information is presented. If, aside from reserve requirements, banks have to meet capital adequacy requirements as well, then the results suggested by...

Contrary to what is consistently assumed in the literature, the return function cannot be hump-shaped in the Stiglitz-Weiss (1981) model. This has important consequences for the possible occurrence of credit rationing and redlining. With a single class of borrowers, banks offer credit in two...

Electronic commerce and flexible manufacturing allow personalization of initially standardized products at low cost. Will customers provide the information necessary for personalization? Assuming that a consumer can control the amount of information revealed, we analyze how his decision...

Certification schemes for forest products are understood by many as a way to promote sustainable resource use when it is impossible to rely on direct enforcement of process standards. Based on the concept of ‘Self-Enforcing Contracts’, this study develops a market model that simulates the...

This is a decision teaching case study, where the Program Manager, Michigan Agriculture Environmental Assurance Program (MAEAP) is faced with the problem of determining the future direction of the MAEAP going forward from 2010. During the case discussion students should be able to: 1. Identify...

This document provides an overview of environmental management priorities, achievements, and challenges in the Caribbean sub-region. It also provides some recommendations for sub-regional initiatives that could be pursued through the Dialogue. Throughout this paper, environmental management...

This executive profile summarized here identifies the great environmental challenges of the Mesoamerican region, highlights the achievements of the last decade, and points out the future course that will guide the region's environmental management advancements. There are three main issues...