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Record Nr. |
UNINA9910788240303321 |
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Autore |
Al-Zein Eza Ghassan |
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Titolo |
Reserve Requirements, the Maturity Structure of Debt, and Bank Runs / / Eza Ghassan Al-Zein |
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Pubbl/distr/stampa |
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Washington, D.C. : , : International Monetary Fund, , 2008 |
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ISBN |
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1-4623-4268-X |
1-4527-9751-X |
9786612840623 |
1-282-84062-2 |
1-4518-6968-1 |
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Descrizione fisica |
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1 online resource (28 p.) |
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Collana |
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IMF Working Papers |
IMF working paper ; ; WP/08/108 |
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Disciplina |
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Soggetti |
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Bank reserves - Econometric models |
Banks and banking, Central - Econometric models |
Bank failures - Econometric models |
Debts, Public - Econometric models |
Banks and Banking |
Exports and Imports |
Investments: Bonds |
Money and Monetary Policy |
Monetary Policy |
Banks |
Depository Institutions |
Micro Finance Institutions |
Mortgages |
International Investment |
Long-term Capital Movements |
General Financial Markets: General (includes Measurement and Data) |
Interest Rates: Determination, Term Structure, and Effects |
Monetary economics |
Banking |
International economics |
Investment & securities |
Finance |
Reserve requirements |
Capital controls |
Bonds |
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Real interest rates |
Monetary policy |
Banks and banking |
Capital movements |
Interest rates |
Chile |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Description based upon print version of record. |
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Nota di bibliografia |
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Includes bibliographical references. |
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Nota di contenuto |
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Contents; I. Introduction; II. Motivation and Literature; III. The Model; A. The Domestic Economy; B. Date-Specific and Maturity-Specific Reserve Requirements; C. The Lenders' Problem; D. Defining the Equilibrium; Figures; 1. Structure of the Model; IV. The Emergence of Bank Runs; A. The Emergence of Bank Runs in the Setup Without Reserve Requirements; Defining the Illiquidity Condition; 2. Decision Tree at t=1 Summarizes How a Bank Run Would Occur.; B. Can Reserve Requirements Prevent the Occurrence of a Bank Run?; Illiquidity Conditions with Reserve Requirements |
Reserve Requirements and Market FailureC. International Lending After the Bank Runs: Are International Lenders "Throwing Good Money After Bad Money"?; International Re-Optimization Problem; V. Discussion; Sunspot and Bank Run Probability; Incentive to Form a Bank; VI. Conclusion; Appendix; References |
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Sommario/riassunto |
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The paper looks at the relationship between reserve requirements and the choice of the maturity structure of external debt in a general equilibrium setup, by incorporating the role of international lenders. A date- and maturity-specific reserve requirement is a fraction of the debt to be deposited in a non-interest bearing account at the central bank. At maturity, the central bank returns the reserves. There exist some specific combinations of date- and maturity-specific reserve requirements that reduce the vulnerability to bank runs. In such setup, lenders may still want to provide new short-term lending to the bank after a bank run. |
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