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...

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Bibliographic Details
Main Authors: Eichberger, Jürgen (Author) , Spanjers, Willy (Author)
Format: Book/Monograph Working Paper
Language:English
Published: Heidelberg University of Heidelberg, Department of Economics June 2007
Edition:This version June 2007
Series:Discussion paper series / Universität Heidelberg, Department of Economics no. 444
In: Discussion paper series (no. 444)

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Online Access:Resolving-System, Volltext: http://hdl.handle.net/10419/127259
Verlag, Volltext: http://www.awi.uni-heidelberg.de/with2/Discussion%20papers/papers/dp444.pdf
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Author Notes:Jürgen Eichberger and Willy Spanjers
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Liquidity and ambiguity: banks or asset markets? by Eichberger, Jürgen (Author) , Spanjers, Willy (Author) ,


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Liquidity and ambiguity: banks or asset markets? by Eichberger, Jürgen (Author) , Spanjers, Willy (Author) ,


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