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Please use this identifier to cite or link to this item: http://hdl.handle.net/2108/137

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contributor.authorFemminis, Gianluca-
contributor.authorRuggerone, Luigi-
date.accessioned2005-11-28T09:56:28Z-
date.available2005-11-28T09:56:28Z-
date.issued1999-
identifier.urihttp://hdl.handle.net/2108/137-
description.abstractWe present a simple model where bank runs are possible and we analyse the role of subsidisation of future investment in this setting. We find that such a policy exacerbates the short-run liquidity problem for banks. Moreover, we highlight that a "shift in expectations" about the keeping of the subsidisation promises induces itself a bank run. We show how a bank recapitalisation may help solving the problem; in fact, it can make credible an "ex post" recovery of the banking system, thus preventing the shift in expectation from generating a self-fulfilling bank crisis.en
description.tableofcontents1. Introduction - 2. The model - 3. Ex-post consistency - 4. Bank runs - 5. Banks capitalisation as a reaction to financial panic - 6. "Political uncertainty" - 7. Final remarks and open issuesen
format.extent147859 bytes-
format.mimetypeapplication/pdf-
language.isoenen
publisherCEISen
relation.ispartofseriesQuaderni CEIS; 124-
subject.classificationSECS-P/11; Economia degli intermediari finanziarien
titleCrony capitalism, bail-outs and bank runsen
typeArticleen
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