Banks with Peso - Denominated Deposits in Small Open Economies with Aggregate Liquidity Shocks

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I extend the traditional Diamond Dybvig framework with aggregate liquidity shocks to small open economies. Currency board may imply perfect risk sharing (with perfect credit markets), contrary to Chang and Velasco ’s findings (2000). With interim-date borrowing constraints and fixed exchange rates,...

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Detalles Bibliográficos
Autor principal: Kawamura, Enrique
Formato: Objeto de conferencia
Lenguaje:Inglés
Publicado: 2002
Materias:
Ciencias Económicas
banco
liquidez
Acceso en línea:http://sedici.unlp.edu.ar/handle/10915/56812
http://www.depeco.econo.unlp.edu.ar/semi/semi190402.pdf
Aporte de:
SEDICI (UNLP) de Universidad Nacional de La Plata
id I19-R120-10915-56812
record_format dspace
institution Universidad Nacional de La Plata
institution_str I-19
repository_str R-120
collection SEDICI (UNLP)
language Inglés
topic Ciencias Económicas
banco
liquidez
spellingShingle Ciencias Económicas
banco
liquidez
Kawamura, Enrique
Banks with Peso - Denominated Deposits in Small Open Economies with Aggregate Liquidity Shocks
topic_facet Ciencias Económicas
banco
liquidez
description I extend the traditional Diamond Dybvig framework with aggregate liquidity shocks to small open economies. Currency board may imply perfect risk sharing (with perfect credit markets), contrary to Chang and Velasco ’s findings (2000). With interim-date borrowing constraints and fixed exchange rates, Wallace’ s (1990) partial suspension of convertibility of deposits is obtained. A banking system with an international lender may implement both allocations without runs. Flexible exchange rates with local-currency denominated deposits improves risk sharing relative to fixed exchange rates when borrowing constraints are present. It also avoids equilibrium bank runs.
format Objeto de conferencia
Objeto de conferencia
author Kawamura, Enrique
author_facet Kawamura, Enrique
author_sort Kawamura, Enrique
title Banks with Peso - Denominated Deposits in Small Open Economies with Aggregate Liquidity Shocks
title_short Banks with Peso - Denominated Deposits in Small Open Economies with Aggregate Liquidity Shocks
title_full Banks with Peso - Denominated Deposits in Small Open Economies with Aggregate Liquidity Shocks
title_fullStr Banks with Peso - Denominated Deposits in Small Open Economies with Aggregate Liquidity Shocks
title_full_unstemmed Banks with Peso - Denominated Deposits in Small Open Economies with Aggregate Liquidity Shocks
title_sort banks with peso - denominated deposits in small open economies with aggregate liquidity shocks
publishDate 2002
url http://sedici.unlp.edu.ar/handle/10915/56812
http://www.depeco.econo.unlp.edu.ar/semi/semi190402.pdf
work_keys_str_mv AT kawamuraenrique bankswithpesodenominateddepositsinsmallopeneconomieswithaggregateliquidityshocks
bdutipo_str Repositorios
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