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  1. Shadow banking and financial stability under limited deposit insurance
    Autor*in: Voellmy, Lukas
    Erschienen: [2019]
    Verlag:  European Systemic Risk Board, Frankfurt am Main, Germany

    I study the relation between shadow banking and financial stability in an economy in which banks are susceptible to self-fulfilling runs and in which government-backed deposit insurance is limited. Shadow banks issue only uninsured deposits while... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 611
    Fernleihe:
    keine Fernleihe

     

    I study the relation between shadow banking and financial stability in an economy in which banks are susceptible to self-fulfilling runs and in which government-backed deposit insurance is limited. Shadow banks issue only uninsured deposits while commercial banks issue both insured and uninsured deposits. The effect of shadow banking on financial stability is ambiguous and depends on the (exogenous) upper limit on insured deposits. If the upper limit on insured deposits is high, then the presence of a shadow banking sector is detrimental to financial stability; shadow banking creates systemic instability that would not be present if all deposits were held in the commercial banking sector. In contrast, if the upper limit on insured deposits is low, then the presence of a shadow banking sector is beneficial from a financial stability perspective; shadow banks absorb uninsured (and uninsurable) deposits from the commercial banking sector, thereby shielding commercial banks from runs. While runs may occur in the shadow banking sector, the situation without shadow banks and a larger amount of uninsured deposits held at commercial banks is worse.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9789294721198
    Weitere Identifier:
    hdl: 10419/210880
    Schriftenreihe: Working paper series / ESRB, European Systemic Risk Board, European System of Financial Supervision ; no 105 (December 2019)
    Umfang: 1 Online-Ressource (circa 49 Seiten), Illustrationen
  2. Shadow banking
    financial intermediation beyond banks
    Autor*in: Adrian, Tobias; Chrétien, Edouard; Chui, Michael; Vries-van Ewijk, Saskia de; Fricke, Christoph; Fricke, Daniel; Gennaioli, Nicola; Honkapohja, Seppo; Li, Jiasun; Lyonnet, Victor; Maes, Stan; Morganti, Patrizio; Nouy, Danièle; Nuzzo, Giorgio; Rubio, Margarita; Suhonen, Antti; Upper, Christian; Voellmy, Lukas; Zafeiris, Dimitris
    Erschienen: [2018]
    Verlag:  Larcier, Vienna

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 580 (2018,1)
    Fernleihe:
    keine Fernleihe
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    Volltext (kostenfrei)
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    Quelle: Verbundkataloge
    Beteiligt: Jokivuolle, Esa (HerausgeberIn)
    Sprache: Englisch
    Medientyp: Konferenzschrift
    Format: Online
    ISBN: 9783902109866
    Weitere Identifier:
    hdl: 10419/193956
    Körperschaften/Kongresse: Shadow Banking: Financial Intermediation beyond Banks (2017, Helsinki)
    Schriftenreihe: SUERF conference proceedings ; 2018, 1
    Umfang: 1 Online-Ressource (circa 129 Seiten), Illustrationen
    Bemerkung(en):

    Enthält 17 Beiträge
  3. Systemic bank runs without aggregate risk
    how a misallocation of liquidity may trigger a solvency crisis
    Autor*in: Altermatt, Lukas; Buggenum, Hugo van; Voellmy, Lukas
    Erschienen: [2022]
    Verlag:  Swiss National Bank, Zurich

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    VS 555
    Fernleihe:
    keine Fernleihe
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: SNB working papers ; 2022, 10
    Schlagworte: Fragility; deposit freezes; emergency liquidity
    Umfang: 1 Online-Ressource (circa 56 Seiten), Illustrationen
  4. Money creation in a neoclassical economy
    equilibrium multiplicity and the liquidity trap
    Autor*in: Altermatt, Lukas; Buggenum, Hugo van; Voellmy, Lukas
    Erschienen: 2024-06
    Verlag:  KOF, Zurich, Switzerland

    We introduce banks that issue liquid deposits backed by bonds and capital into an otherwise standard cash-in-advance economy. Liquidity transformation by banks increases aggregate consumption and investment relative to a cash-only economy but can... mehr

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 297
    Fernleihe:
    keine Fernleihe

     

    We introduce banks that issue liquid deposits backed by bonds and capital into an otherwise standard cash-in-advance economy. Liquidity transformation by banks increases aggregate consumption and investment relative to a cash-only economy but can also lead to inefficient overinvestment. Furthermore, liquidity transformation can lead to multiple steady-state equilibria with different interest rates and real outcomes. Whenever multiple equilibria exist, one of them constitutes a 'liquidity trap', in which nominal bond rates equal zero and banks are indifferent between holding bonds and reserves. Whether economic activity is higher in a liquidity trap or in a (coexisting) equilibrium with positive interest rates is ambiguous, but the liquidity trap equilibrium is more likely to go in hand with overinvestment.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 20.500.11850/676909
    hdl: 10419/299375
    Schriftenreihe: KOF working papers ; no. 516 (06/2024)
    Schlagworte: Banks; Liquidity; Monetary Policy; Zero-Lower Bound
    Umfang: 1 Online-Ressource (circa 48 Seiten), Illustrationen
  5. Decomposing liquidity risk in banking models
    Autor*in: Voellmy, Lukas
    Erschienen: [2024]
    Verlag:  Swiss National Bank, Zurich

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    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Verlag (kostenfrei)

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    VS 555
    Fernleihe:
    keine Fernleihe
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: SNB working papers ; 2024, 3
    Schlagworte: Liquidity Insurance; Banking Theory
    Umfang: 1 Online-Ressource (circa 42 Seiten), Illustrationen