Shadow Banking and Market Discipline on Traditional Banks.
We present a model in which shadow banking arises endogenously and undermines market discipline on traditional banks. Depositors' ability to re-optimize in response to crises imposes market discipline on traditional banks: these banks optimally commit to a safe portfolio strategy to prevent ear...
| Формат: | Журнал |
|---|---|
| Мова: | English |
| Опубліковано: |
Washington, D.C. :
International Monetary Fund,
2017.
|
| Серія: | IMF Working Papers; Working Paper ;
No. 2017/285 |
| Онлайн доступ: | Full text available on IMF |