Financial intermediation and the creation of macroeconomic risks

We examine financial intermediation when banks can offer deposit or loan contracts contingent on macroeconomic shocks. We show that the risk allocation is efficient if there is no workout of banking crises. In this case, banks will shift part of the risk to depositors. In contrast, under a workout o...

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Bibliographic Details

Main Author:	Gersbach, Hans (Author)
Format:	Book/Monograph Working Paper
Language:	English
Published:	München CESifo 2002
Series:	CESifo Working Paper Category 6: Monetary Policy and International Finance 695
In:	CESifo working papers (695)
Subjects:	Arbeitspapier Graue Literatur Kreditrisiko Bankenaufsicht Bankenkrise Finanzintermediäre
Online Access:	Resolving-System, Volltext: http://hdl.handle.net/10419/76099 Verlag, Volltext: http://www.cesifo-group.de/ifoHome/publications/working-papers/CESifoWP/CESifoWPdetails?wp_id=14560462
Author Notes:	Hans Gersbach