dc.contributor.advisor |
|
|
dc.contributor.author |
Chang, Chia-Ying |
|
dc.date.accessioned |
2013-09-24T02:10:33Z |
|
dc.date.accessioned |
2022-07-05T02:48:23Z |
|
dc.date.available |
2013 |
|
dc.date.available |
2013-09-24T02:10:33Z |
|
dc.date.available |
2022-07-05T02:48:23Z |
|
dc.date.copyright |
2013 |
|
dc.date.issued |
2013 |
|
dc.identifier.uri |
https://ir.wgtn.ac.nz/handle/123456789/18795 |
|
dc.description.abstract |
This paper sheds light on the linkages between banking crises and sudden stops and discusses the effectiveness of short-run lending in their prevention. It develops an overlapping generations framework and incorporates the possibilities of bank runs and moral hazard of financial intermediaries. Consequently, I find that the strategy to overcome liquidity problems could worsen banks’ positions and cause bank runs and sudden stops. A small liquidity shock may still lead to a banking crisis through the depositors’ expectation. A large shock would require short-run lending to prevent an immediate bank run, but the repayment obligation may worsen moral hazard problems. |
en_NZ |
dc.format |
pdf |
en_NZ |
dc.language.iso |
en_NZ |
|
dc.publisher |
Te Herenga Waka—Victoria University of Wellington |
en_NZ |
dc.relation.ispartofseries |
SEF Working Paper ; 07/2013 |
en_NZ |
dc.rights.uri |
http://www.victoria.ac.nz/sef/research/sef-working-papers |
|
dc.subject |
Banking crises |
en_NZ |
dc.subject |
Sudden stops |
en_NZ |
dc.subject |
Moral hazard |
en_NZ |
dc.subject |
Short-run lending |
en_NZ |
dc.subject |
Capital flows |
en_NZ |
dc.title |
Banking crises, sudden stops, and the effectiveness of short-term lending |
en_NZ |
dc.type |
Text |
en_NZ |
vuwschema.contributor.unit |
School of Economics and Finance |
en_NZ |
vuwschema.subject.anzsrcfor |
140210 International Economics and International Finance |
en_NZ |
vuwschema.type.vuw |
Working or Occasional Paper |
en_NZ |
vuwschema.subject.anzsrcforV2 |
350207 International finance |
en_NZ |
vuwschema.subject.anzsrcforV2 |
380110 International economics |
en_NZ |
dc.rights.rightsholder |
http://www.victoria.ac.nz/sef/research/sef-working-papers |
en_NZ |