The price of incorvertible deposits: the stock market boom during the Argentine crisis

The Argentine crisis witnessed, among other things, a deposit run, the suspension of deposit convertibility, and a “boom” in the stock market. We argue that this boom reflects the cost that depositors were willing to incur to get their money out of the banking system, in light of the impending risks...

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Autores principales: Levy Yeyati, Eduardo, Horen, Neeltje van, Schmukler, Sergio
Formato: Documento de trabajo acceptedVersion
Publicado: Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF) 2017
Materias:
Crisis monetaria
Movimientos de capitales
Recesión económica
Acceso en línea:http://repositorio.utdt.edu/handle/utdt/6264
Aporte de:
Repositorio Digital Universidad Torcuato Di Tella de Universidad Torcuato Di Tella
id I57-R16320.500.13098-6264
record_format dspace
institution Universidad Torcuato Di Tella
institution_str I-57
repository_str R-163
collection Repositorio Digital Universidad Torcuato Di Tella
topic Crisis monetaria
Movimientos de capitales
Recesión económica
spellingShingle Crisis monetaria
Movimientos de capitales
Recesión económica
Levy Yeyati, Eduardo
Horen, Neeltje van
Schmukler, Sergio
The price of incorvertible deposits: the stock market boom during the Argentine crisis
description The Argentine crisis witnessed, among other things, a deposit run, the suspension of deposit convertibility, and a “boom” in the stock market. We argue that this boom reflects the cost that depositors were willing to incur to get their money out of the banking system, in light of the impending risks. This boom was generalized to all stocks and more pronounced in liquid stocks. Furthermore, the boom was a symptom that deposits were effectively restricted and that investors were not able to circumvent capital controls.
format Documento de trabajo
acceptedVersion
author Levy Yeyati, Eduardo
Horen, Neeltje van
Schmukler, Sergio
author_facet Levy Yeyati, Eduardo
Horen, Neeltje van
Schmukler, Sergio
author_sort Levy Yeyati, Eduardo
title The price of incorvertible deposits: the stock market boom during the Argentine crisis
title_short The price of incorvertible deposits: the stock market boom during the Argentine crisis
title_full The price of incorvertible deposits: the stock market boom during the Argentine crisis
title_fullStr The price of incorvertible deposits: the stock market boom during the Argentine crisis
title_full_unstemmed The price of incorvertible deposits: the stock market boom during the Argentine crisis
title_sort price of incorvertible deposits: the stock market boom during the argentine crisis
publisher Universidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF)
publishDate 2017
url http://repositorio.utdt.edu/handle/utdt/6264
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