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. 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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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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
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