Shock di liquidità e crisi bancarie: fallimento o corse agli sportelli?

Journal title STUDI ECONOMICI
Author/s Paola Brighi
Publishing Year 1 Issue 2001/75
Language Italian Pages 21 P. File size 193 KB
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In this paper, we show that, contrary to Diamond and Dybvig’s [1983] model and further developments, bank runs are not the only cause of liquidity crises; even a quite prudent ex-ante management of bank assets could appear wrong ex-post and be the cause of a bank fai-lure. The relaxing of the hypothesis of zero liquidation cost and of aggregate certainty of the early dyers proportion of depositors makes the evaluation of the bank’s investment strategies meaningful: the bank’s decision to invest in liquid assets depends on the interest rates on de-posits and loans. Moreover, if we make the hypothesis that any sort of bank regulation can not exist the bank asset strategy is revealed as more prudent.

Paola Brighi, Shock di liquidità e crisi bancarie: fallimento o corse agli sportelli? in "STUDI ECONOMICI " 75/2001, pp , DOI: