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Banks as secret keepers
Dang, Tri-Vi; Gorton, Gary; Holmström, Bengt; … - 2014
Persistent link: https://www.econbiz.de/10010386481
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Banks as secret keepers
Dang, Tri-Vi; Gorton, Gary; Holmström, Bengt; … - 2014
Persistent link: https://www.econbiz.de/10010390326
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Banks as Secret Keepers
Dang, Tri Vi - 2016
Banks produce short-term debt for transactions and storing value. The value of bank money must not vary over time so … information about the bank's loans. To produce safe liquidity banks choose loans with high such costs. Capital markets cannot … produce substitutes for bank money because they involve information revelation. They produce risky liquidity. This trade …
Persistent link: https://www.econbiz.de/10013006295
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Banks as Secret Keepers
Dang, Tri Vi - 2014
Banks are optimally opaque institutions. They produce debt for use as a transaction medium (bank money), which requires … that information about the backing assets - loans - not be revealed, so that bank money does not fluctuate in value …-insensitive assets. For the economy as a whole, firms endogenously separate into bank finance and capital market/stock market finance …
Persistent link: https://www.econbiz.de/10013051755
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Banks as secret keepers
Dang, Tri-Vi; Gorton, Gary; Holmström, Bengt; … - In: The American economic review 107 (2017) 4, pp. 1005-1029
Persistent link: https://www.econbiz.de/10011644321
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Banks as Secret Keepers
Dang, Tri Vi - 2014
Banks are optimally opaque institutions. They produce debt for use as a transaction medium (bank money), which requires … that information about the backing assets - loans - not be revealed, so that bank money does not fluctuate in value …-insensitive assets. For the economy as a whole, firms endogenously separate into bank finance and capital market/stock market finance …
Persistent link: https://www.econbiz.de/10012458411
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A model of shadow banking
Gennaioli, Nicola; Shleifer, Andrei; Vishny, Robert W. - 2011
"We present a model of shadow banking in which financial intermediaries originate and trade loans, assemble these loans into diversified portfolios, and then finance these portfolios externally with riskless debt. In this model: i) outside investor wealth drives the demand for riskless debt and...
Persistent link: https://www.econbiz.de/10009158793
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A model of shadow banking
Gennaioli, Nicola; Shleifer, Andrei; Vishny, Robert W. - 2012
Persistent link: https://www.econbiz.de/10009723693
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A model of shadow banking
Gennaioli, Nicola; Shleifer, Andrei; Vishny, Robert W. - In: The journal of finance : the journal of the American … 68 (2013) 4, pp. 1331-1363
Persistent link: https://www.econbiz.de/10009790996
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A contingent claim analysis of a rate-setting financial intermediary
Lin, Jyh-horng - In: International review of economics & finance : IREF 9 (2000) 4, pp. 375-386
Persistent link: https://www.econbiz.de/10001538884