Banking in small open economies with aggregate liquidity shocks

I extend the traditional Diamond Dybvig framework with aggregate liquidity shocks to small open economies. Currency board may imply perfect risk sharing (with perfect credit markets), contrary to Chang and Velasco's findings (2000). With interim-date borrowing constraints and fixed exchange rat...

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Autor principal: Kawamura, Enrique
Formato: Objeto de conferencia
Lenguaje:Inglés
Publicado: 2002
Materias:
Ciencias Económicas
liquidez
banco
Acceso en línea:http://sedici.unlp.edu.ar/handle/10915/3786
http://www.depeco.econo.unlp.edu.ar/jemi/2002/trabajo6.pdf
Aporte de:
SEDICI (UNLP) de Universidad Nacional de La Plata
id I19-R120-10915-3786
record_format dspace
institution Universidad Nacional de La Plata
institution_str I-19
repository_str R-120
collection SEDICI (UNLP)
language Inglés
topic Ciencias Económicas
liquidez
banco
spellingShingle Ciencias Económicas
liquidez
banco
Kawamura, Enrique
Banking in small open economies with aggregate liquidity shocks
topic_facet Ciencias Económicas
liquidez
banco
description I extend the traditional Diamond Dybvig framework with aggregate liquidity shocks to small open economies. Currency board may imply perfect risk sharing (with perfect credit markets), contrary to Chang and Velasco's findings (2000). With interim-date borrowing constraints and fixed exchange rates, Wallace's (1990) partial suspension of convertibility of deposits is obtained. A banking system with an international lender may implement both allocations without runs. Flexible exchange rates with local-currency denominated deposits improves risk sharing relative to fixed exchange rates when borrowing constraints are present.
format Objeto de conferencia
Objeto de conferencia
author Kawamura, Enrique
author_facet Kawamura, Enrique
author_sort Kawamura, Enrique
title Banking in small open economies with aggregate liquidity shocks
title_short Banking in small open economies with aggregate liquidity shocks
title_full Banking in small open economies with aggregate liquidity shocks
title_fullStr Banking in small open economies with aggregate liquidity shocks
title_full_unstemmed Banking in small open economies with aggregate liquidity shocks
title_sort banking in small open economies with aggregate liquidity shocks
publishDate 2002
url http://sedici.unlp.edu.ar/handle/10915/3786
http://www.depeco.econo.unlp.edu.ar/jemi/2002/trabajo6.pdf
work_keys_str_mv AT kawamuraenrique bankinginsmallopeneconomieswithaggregateliquidityshocks
bdutipo_str Repositorios
_version_ 1764820471947198464

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