Browsing Department of Economics (ECO) by Subject "Limited commitment"

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Browsing Department of Economics (ECO) by Subject "Limited commitment"

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    Title: Financial Crisis Resolution  Author(s): SCHROTH, Josef Date: 2012 Type of Publication: Working Paper Series/Report no.: EUI MWP Abstract: This paper studies a dynamic version of the Holmstrom-Tirole model of intermediated finance. I show that competitive equilibria are not constrained efficient when the economy experiences a financial crises. A pecuniary ...
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    Title: Banking Panics and Policy Responses  Author(s): ENNIS, Huberto M.; KEISTER, Todd Date: 2010 Type of Publication: Article Abstract: When policy makers have limited commitment power, self-fulfilling bank runs can arise as an equilibrium phenomenon. We study how such banking panics unfold in a version of the Diamond and Dybvig (1983) model. A run in this ...
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    Title: Competition, Human Capital and Income Inequality with Limited Commitment  Author(s): MARIMON, Ramon; QUADRINI, Vincenzo Date: 2008 Type of Publication: Working Paper Series/Report no.: EUI MWP Abstract: We develop a dynamic general equilibrium model with two-sided limited commitment to study how barriers to competition, such as restrictions to business start-up, affect the incentive to accumulate human capital. We show ...
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    Title: Competition, Human Capital and Income Inequality with Limited Commitment  Author(s): MARIMON, Ramon; QUADRINI, Vincenzo Date: 2008 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: We develop a dynamic general equilibrium model with two-sided limited commitment to study how barriers to competition, such as restrictions to business start-up, affect the incentive to accumulate human capital. We show ...