LEADER 05570nam 2200745Ia 450 001 9910812845503321 005 20200520144314.0 010 $a1-136-34249-4 010 $a1-280-77701-X 010 $a9786613687401 010 $a0-203-12395-6 010 $a1-136-34250-8 024 7 $a10.4324/9780203123959 035 $a(CKB)2670000000205698 035 $a(EBL)981856 035 $a(OCoLC)804662358 035 $a(SSID)ssj0000686025 035 $a(PQKBManifestationID)11460214 035 $a(PQKBTitleCode)TC0000686025 035 $a(PQKBWorkID)10732208 035 $a(PQKB)10203241 035 $a(MiAaPQ)EBC981856 035 $a(Au-PeEL)EBL981856 035 $a(CaPaEBR)ebr10572253 035 $a(CaONFJC)MIL368740 035 $a(OCoLC)796803966 035 $a(FINmELB)ELB135356 035 $a(EXLCZ)992670000000205698 100 $a20120614d2012 uy 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aBanking crises, liquidity, and credit lines $ea macroeconomic perspective /$fGurbachan Singh 205 $a1st ed. 210 $aLondon ;$aNew York $cRoutledge$d2012 210 1$aLondon ;$aNew York :$cRoutledge,$d2012. 215 $a1 online resource (273 p.) 225 1 $aRoutledge international studies in money and banking ;$v70 300 $aDescription based upon print version of record. 311 $a1-138-79870-3 311 $a0-415-68220-7 320 $aIncludes bibliographical references and index. 327 $aCover; Banking Crises, Liquidity,and Credit Lines; Copyright; Contents; List of illustrations; Preface; Acknowledgements; 1. Introduction; 1.1 A perspective on banking crises, liquidity, and credit lines; 1.2 A glimpse of the main contents; 1.3 Plan of the book; 2. Bank solvency and systemic stability; 2.1 Diversifiable risks; 2.2 Non-diversifiable risks and capital; 2.3 Non-diversifiable risks and liquidity; 3. The rationale for demand deposits (and short-term funds); 3.1 Demand deposits as money; 3.2 Demand deposits for consumption smoothing; 3.3 Demand deposits as a check on moral hazard 327 $a4. Literature review, and the road ahead4.1 Banking crises and liquidity; 4.2 Credit lines; 4.3 The road ahead; Appendix: storage technology; 5. Near-systemic bank runs, given a flexible more-reputed bank; 5.1 Reserves; 5.2 Liquid loans: purchase of loans by the more-reputed bank; 5.3 Illiquid loans: near lender of last resort; 5.4 Illiquid loans: line of credit from the more-reputed bank; 5.5 A model of a possible market for lines of credit; 5.6 Price-level stability and near-systemic bank runs; 5.7 A two-way credit line and a mediator; 5.8 Competition and stability 327 $a6. Systemic bank runs, given a flexible central bank6.1 Reserves; 6.2 Liquid loans: purchase of loans by the central bank; 6.3 Illiquid loans: lender of last resort; 6.4 Illiquid loans: lines of credit from the central bank; 6.5 A model of possible quasi-market for lines of credit; 6.6 Price-level stability and systemic bank runs; 6.7 Systemic runs and near-systemic runs: a comparison; 6.8 Hypothetical and actual central banks, past and present; 7. Systemic bank runs under the gold standard; 7.1 Gold reserves; 7.2 Liquid loans: purchase of loans by the 'gold company' 327 $a7.3 Illiquid loans: hypothetical lender of last resort7.4 Illiquid loans: a line of credit from the 'gold company'; 7.5 A credit line model and a plausible market failure; 7.6 Market price of gold, and systemic bank runs; 7.7 'Gold company' and central bank: a comparison; 8. Implications of inelastic supply of desired assets; 8.1 Inelastic issue of deposits by the rigid more-reputed bank; 8.2 Inelastic issue of currency by the rigid central bank; 8.3 Inelastic supply of gold under the gold standard; 8.4 Inelastic supply of desired assets, and the real sector 327 $a9. Bank runs, portfolio choice, and adjustment mechanism9.1 Banking crisis vis-a?-vis stock market crash; 9.2 Flex-price assets and fix-price assets; 9.3 Price elasticity of supply, and non-price elasticity of supply; 9.4 Redemption and exchange: a distinction I; 9.5 Price adjustment and quantity adjustment; 9.6 Deposit insurance for reasons of liquidity; 10. Bank runs, liquidity, and consumption smoothing; 10.1 Redemption and exchange: a distinction II; 10.2 Real and non-real liquidity shock; 10.3 Consumption smoothing in a broad perspective 327 $a10.4 Liquidity shocks in the pre-1983 and the post- 330 $aThe banking crises in 2007-10 are not exceptional. There have been many such crises in the past in both developed countries and emerging economies. A banking crisis can be related to solvency or liquidity (or both). This book focuses on banking crisis and liquidity. This book starts from basics and gradually builds up with very few technicalities. Though the analysis is primarily theoretical, we provide a historical background, a macroeconomic perspective, and policy implications for both closed and open economies. 410 0$aRoutledge international studies in money and banking ;$v70. 606 $aFinancial crises 606 $aCurrency crises 615 0$aFinancial crises. 615 0$aCurrency crises. 676 $a338.542 700 $aSingh$b Gurbachan$c(Economist)$01754445 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910812845503321 996 $aBanking crises, liquidity, and credit lines$94190802 997 $aUNINA