Enriching information to prevent bank runs

Detalhes bibliográficos
Autor(a) principal: Cavalcanti, Ricardo de Oliveira
Data de Publicação: 2011
Outros Autores: Monteiro, Paulo Klinger
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/8484
Resumo: Sequential service in the banking sector, as modeled by Diamond and Dybvig (1983), is a barrier to full insurance and potential source of financial fragility against which deposit insurance is infeasible (Wallace, 1988). In this paper, we pursue a different perspective, viewing the sequence of contacts as opportunities to extract information through a larger message space with commitment to richer promises. As we show, if preferences satisfy a separating property then the desired elimination of dominated strategies (Green and Lin, 2003) occurs even when shocks are correlated. In this manner the sequential service promotes stability.
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spelling Cavalcanti, Ricardo de OliveiraMonteiro, Paulo KlingerEscolas::EPGEFGV2011-07-27T20:43:35Z2011-07-27T20:43:35Z2011-07-270104-8910http://hdl.handle.net/10438/8484Sequential service in the banking sector, as modeled by Diamond and Dybvig (1983), is a barrier to full insurance and potential source of financial fragility against which deposit insurance is infeasible (Wallace, 1988). In this paper, we pursue a different perspective, viewing the sequence of contacts as opportunities to extract information through a larger message space with commitment to richer promises. As we show, if preferences satisfy a separating property then the desired elimination of dominated strategies (Green and Lin, 2003) occurs even when shocks are correlated. In this manner the sequential service promotes stability.engFundação Getulio Vargas. Escola de Pós-graduação em EconomiaEnsaios Econômicos;721Bayesian implementationDiamond-dybvig model without runsEconomiaEconomiaEnriching information to prevent bank runsinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlereponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVinfo:eu-repo/semantics/openAccessLICENSElicense.txtlicense.txttext/plain; charset=utf-84707http://bibliotecadigital.fgv.br:80/dspace/bitstream/10438/8484/2/license.txtdfb340242cced38a6cca06c627998fa1MD52TEXTjet_cavalcanti_monteiro.pdf.txtjet_cavalcanti_monteiro.pdf.txtExtracted Texttext/plain36278http://bibliotecadigital.fgv.br:80/dspace/bitstream/10438/8484/3/jet_cavalcanti_monteiro.pdf.txt85dc9f3a0f2190e3b70c6e56497c2a4dMD53Enriching-Information-to-Prevent-Bank-Runs.pdf.txtEnriching-Information-to-Prevent-Bank-Runs.pdf.txtExtracted 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dc.title.eng.fl_str_mv Enriching information to prevent bank runs
title Enriching information to prevent bank runs
spellingShingle Enriching information to prevent bank runs
Cavalcanti, Ricardo de Oliveira
Bayesian implementation
Diamond-dybvig model without runs
Economia
Economia
title_short Enriching information to prevent bank runs
title_full Enriching information to prevent bank runs
title_fullStr Enriching information to prevent bank runs
title_full_unstemmed Enriching information to prevent bank runs
title_sort Enriching information to prevent bank runs
author Cavalcanti, Ricardo de Oliveira
author_facet Cavalcanti, Ricardo de Oliveira
Monteiro, Paulo Klinger
author_role author
author2 Monteiro, Paulo Klinger
author2_role author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EPGE
dc.contributor.affiliation.none.fl_str_mv FGV
dc.contributor.author.fl_str_mv Cavalcanti, Ricardo de Oliveira
Monteiro, Paulo Klinger
dc.subject.por.fl_str_mv Bayesian implementation
Diamond-dybvig model without runs
topic Bayesian implementation
Diamond-dybvig model without runs
Economia
Economia
dc.subject.area.por.fl_str_mv Economia
dc.subject.bibliodata.por.fl_str_mv Economia
description Sequential service in the banking sector, as modeled by Diamond and Dybvig (1983), is a barrier to full insurance and potential source of financial fragility against which deposit insurance is infeasible (Wallace, 1988). In this paper, we pursue a different perspective, viewing the sequence of contacts as opportunities to extract information through a larger message space with commitment to richer promises. As we show, if preferences satisfy a separating property then the desired elimination of dominated strategies (Green and Lin, 2003) occurs even when shocks are correlated. In this manner the sequential service promotes stability.
publishDate 2011
dc.date.accessioned.fl_str_mv 2011-07-27T20:43:35Z
dc.date.available.fl_str_mv 2011-07-27T20:43:35Z
dc.date.issued.fl_str_mv 2011-07-27
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
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url http://hdl.handle.net/10438/8484
dc.language.iso.fl_str_mv eng
language eng
dc.relation.ispartofseries.por.fl_str_mv Ensaios Econômicos;721
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
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dc.publisher.none.fl_str_mv Fundação Getulio Vargas. Escola de Pós-graduação em Economia
publisher.none.fl_str_mv Fundação Getulio Vargas. Escola de Pós-graduação em Economia
dc.source.none.fl_str_mv reponame:Repositório Institucional do FGV (FGV Repositório Digital)
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