Browsing ECO Working Papers by Subject "G10"

DSpace/Manakin Repository

Browsing ECO Working Papers by Subject "G10"

Sort by: Order: Results:

  • Icon
    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 ...