Liquidity and ambiguity: banks or asset markets?
We study the impact of ambiguity on two alternative institutions of financial intermediation in an economy where consumers face uncertain liquidity needs. The ambiguity the consumers experience is modeled by the degree of confidence in their additive beliefs. We analyze the optimal liquidity allocat...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Dokumenttyp: | Book/Monograph Arbeitspapier |
| Sprache: | Englisch |
| Veröffentlicht: |
Heidelberg
University of Heidelberg, Department of Economics
June 2007
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| Ausgabe: | This version June 2007 |
| Schriftenreihe: | Discussion paper series / Universität Heidelberg, Department of Economics
no. 444 |
| In: |
Discussion paper series (no. 444)
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| Schlagworte: | |
| Online-Zugang: | Resolving-System, Volltext: http://hdl.handle.net/10419/127259 Verlag, Volltext: http://www.awi.uni-heidelberg.de/with2/Discussion%20papers/papers/dp444.pdf |
| Verfasserangaben: | Jürgen Eichberger and Willy Spanjers |
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