A monetary mechanism for sharing capital: Diamond and Dybvig meet Kiyotaki and Wright

Detalhes bibliográficos
Autor(a) principal: Cavalcanti, Ricardo de Oliveira
Data de Publicação: 2002
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/12468
Resumo: Historically, payment systems and capital intermediation interact. Friedman (1959), and many observers of bank instabilities, have ad- vocated separating depositary from credit institutions. His proposal meets today an ever-increasing provision of inside money, and a short- age of monetary models of bank intermediation. In this paper, we eval- uate the proposal from a new angle, with a model in which isolating a safe payments system from commercial intermediation undermines information complementarities in banking activities. Some features of the environment resemble the models in Diamond and Dybvig (1983), and Kiyotaki and Wright (1989).
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spelling Cavalcanti, Ricardo de OliveiraEscolas::EPGEFGV2014-11-18T12:00:10Z2014-11-18T12:00:10Z2002-05-23http://hdl.handle.net/10438/12468Historically, payment systems and capital intermediation interact. Friedman (1959), and many observers of bank instabilities, have ad- vocated separating depositary from credit institutions. His proposal meets today an ever-increasing provision of inside money, and a short- age of monetary models of bank intermediation. In this paper, we eval- uate the proposal from a new angle, with a model in which isolating a safe payments system from commercial intermediation undermines information complementarities in banking activities. Some features of the environment resemble the models in Diamond and Dybvig (1983), and Kiyotaki and Wright (1989).engEscola de Pós-Graduação em Economia da FGVSeminários de pesquisa econômica da EPGETodo cuidado foi dispensado para respeitar os direitos autorais deste trabalho. Entretanto, caso esta obra aqui depositada seja protegida por direitos autorais externos a esta instituição, contamos com a compreensão do autor e solicitamos que o mesmo faça contato através do Fale Conosco para que possamos tomar as providências cabíveisinfo:eu-repo/semantics/openAccessA monetary mechanism for sharing capital: Diamond and Dybvig meet Kiyotaki and Wrightinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleEconomiaLiquidez (Economia)Balanço de pagamentosreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVORIGINAL1089.pdf1089.pdfapplication/pdf207417https://repositorio.fgv.br/bitstreams/a4328241-bc88-4285-b009-3110cc4802a4/downloadc93d4d7269069f0b889eaf676b0baf20MD51LICENSElicense.txtlicense.txttext/plain; charset=utf-84707https://repositorio.fgv.br/bitstreams/96858a6c-09a4-40fe-8459-d38089b3630d/downloaddfb340242cced38a6cca06c627998fa1MD52TEXT1089.pdf.txt1089.pdf.txtExtracted 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dc.title.eng.fl_str_mv A monetary mechanism for sharing capital: Diamond and Dybvig meet Kiyotaki and Wright
title A monetary mechanism for sharing capital: Diamond and Dybvig meet Kiyotaki and Wright
spellingShingle A monetary mechanism for sharing capital: Diamond and Dybvig meet Kiyotaki and Wright
Cavalcanti, Ricardo de Oliveira
Economia
Liquidez (Economia)
Balanço de pagamentos
title_short A monetary mechanism for sharing capital: Diamond and Dybvig meet Kiyotaki and Wright
title_full A monetary mechanism for sharing capital: Diamond and Dybvig meet Kiyotaki and Wright
title_fullStr A monetary mechanism for sharing capital: Diamond and Dybvig meet Kiyotaki and Wright
title_full_unstemmed A monetary mechanism for sharing capital: Diamond and Dybvig meet Kiyotaki and Wright
title_sort A monetary mechanism for sharing capital: Diamond and Dybvig meet Kiyotaki and Wright
author Cavalcanti, Ricardo de Oliveira
author_facet Cavalcanti, Ricardo de Oliveira
author_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
dc.subject.area.por.fl_str_mv Economia
topic Economia
Liquidez (Economia)
Balanço de pagamentos
dc.subject.bibliodata.por.fl_str_mv Liquidez (Economia)
Balanço de pagamentos
description Historically, payment systems and capital intermediation interact. Friedman (1959), and many observers of bank instabilities, have ad- vocated separating depositary from credit institutions. His proposal meets today an ever-increasing provision of inside money, and a short- age of monetary models of bank intermediation. In this paper, we eval- uate the proposal from a new angle, with a model in which isolating a safe payments system from commercial intermediation undermines information complementarities in banking activities. Some features of the environment resemble the models in Diamond and Dybvig (1983), and Kiyotaki and Wright (1989).
publishDate 2002
dc.date.issued.fl_str_mv 2002-05-23
dc.date.accessioned.fl_str_mv 2014-11-18T12:00:10Z
dc.date.available.fl_str_mv 2014-11-18T12:00:10Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
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status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10438/12468
url http://hdl.handle.net/10438/12468
dc.language.iso.fl_str_mv eng
language eng
dc.relation.ispartofseries.por.fl_str_mv Seminários de pesquisa econômica da EPGE
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
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dc.publisher.none.fl_str_mv Escola de Pós-Graduação em Economia da FGV
publisher.none.fl_str_mv Escola de Pós-Graduação em Economia da FGV
dc.source.none.fl_str_mv reponame:Repositório Institucional do FGV (FGV Repositório Digital)
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