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...
Gespeichert in:
| 1. Verfasser: | |
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| Dokumenttyp: | Buch/Monographie Arbeitspapier |
| Sprache: | Englisch |
| Veröffentlicht: |
München
CESifo
2002
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| Schriftenreihe: | CESifo Working Paper Category 6: Monetary Policy and International Finance
695 |
| In: |
CESifo working papers (695)
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| Schlagworte: | |
| Online-Zugang: | 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 
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| Verfasserangaben: | Hans Gersbach |
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