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220928 ||| eng |
| 020 |
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|a 9781513582313
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| 100 |
1 |
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|a Capelle, Damien
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| 245 |
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0 |
|a Competition vs. Stability: Oligopolistic Banking System with Run Risk
|c Damien Capelle
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| 260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2021
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| 300 |
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|a 74 pages
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| 653 |
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|a Economics
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| 653 |
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|a Banks
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| 653 |
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|a Finance
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| 653 |
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|a Industries: Financial Services
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| 653 |
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|a Banks and banking
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| 653 |
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|a Investment banking
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| 653 |
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|a Financial services
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| 653 |
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|a Deflation
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| 653 |
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|a Competition
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| 653 |
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|a Mortgages
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| 653 |
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|a Economics of specific sectors
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| 653 |
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|a Asset prices
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| 653 |
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|a Informal Economy
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| 653 |
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|a Shadow banking
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| 653 |
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|a Foreign Exchange
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| 653 |
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|a Currency crises
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| 653 |
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|a Financial markets
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| 653 |
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|a International Economics
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| 653 |
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|a Macroeconomics
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| 653 |
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|a Banking
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| 653 |
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|a Brokerage
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| 653 |
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|a Bank deposits
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| 653 |
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|a Venture Capital
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| 653 |
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|a Law and legislation
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| 653 |
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|a Depository Institutions
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| 653 |
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|a Economic & financial crises & disasters
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| 653 |
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|a Inflation
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| 653 |
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|a Institutional Investors
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| 653 |
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|a Pension Funds
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| 653 |
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|a Investment Banking
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| 653 |
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|a Financial Instruments
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| 653 |
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|a Economics: General
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| 653 |
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|a Micro Finance Institutions
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| 653 |
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|a Informal sector
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| 653 |
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|a General Financial Markets: General (includes Measurement and Data)
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| 653 |
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|a Non-bank Financial Institutions
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| 653 |
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|a Price Level
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| 653 |
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|a Nonbank financial institutions
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| 653 |
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|a Banks and Banking
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| 653 |
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|a Ratings and Ratings Agencies
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| 653 |
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|a Prices
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| 653 |
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|a Underground Econom
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| 653 |
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|a Finance: General
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b IMF
|a International Monetary Fund
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| 490 |
0 |
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|a IMF Working Papers
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| 028 |
5 |
0 |
|a 10.5089/9781513582313.001
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| 856 |
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|u https://elibrary.imf.org/view/journals/001/2021/102/001.2021.issue-102-en.xml?cid=50277-com-dsp-marc
|x Verlag
|3 Volltext
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| 082 |
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|a 330
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| 520 |
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|a This paper develops a model where large financial intermediaries subject to systemic runs internalize the effect of their leverage on aggregate risk, returns and asset prices. Near the steady-state, they restrict leverage to avoid the risk of a run which gives rise to an accelerator effect. For large adverse shocks, the system enters a zone with high leverage and possibly runs. The length of time the system remains in this zone depends on the degree of concentration through a franchise value, price-drop and recapitalization channels. The speed of entry of new banks after a collapse has a stabilizing effect
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