On the instability of private intertemporal liquidity provision

被引：1

作者：

Dietrich, Diemo ^{[1
]}

Gehrig, Thomas ^{[2
,3
,4
,5
]}

机构：

[1] Newcastle Univ, Frederick Douglass Ctr, 2 Sci Sq, Newcastle Upon Tyne NE4 5TG, Tyne & Wear, England

[2] Univ Vienna, Vienna, Austria

[3] CEPR, London, England

[4] ECGI, Brussels, Belgium

[5] VGSF, Vienna, Austria

来源：

ECONOMICS LETTERS | 2021年 / 209卷

关键词：

Liquidity insurance; Instability; Overlapping generations; Market incompleteness; BANK RUNS; MARKETS;

D O I：

10.1016/j.econlet.2021.110117

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The provision of intertemporal liquidity by banks is known to be subject to coordination failures. We establish that asset markets providing intertemporal liquidity are also inherently unstable. These findings challenge the notion of an optimal private provision of liquidity. (C) 2021 Elsevier B.V. All rights reserved.

引用

页数：3

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