Matches in SemOpenAlex for { <https://semopenalex.org/work/W2108214906> ?p ?o ?g. }
Showing items 1 to 93 of
93
with 100 items per page.
- W2108214906 endingPage "346" @default.
- W2108214906 startingPage "295" @default.
- W2108214906 abstract "We build a general equilibrium model to analyze how the ability of banks to create money can affect asset prices and financial stability. In the model, demand for liquidity takes the form of demand for money to make payments. We show that banks can provide elastic aggregate liquidity by creating and lending out deposits, which will reduce the need for people to sell assets and help maintain asset price stability. We also compare two types of liquidity provision mechanisms. The first is liquidity-risk-sharing through a Diamond-and-Dybvig style coalition that pools together people’s resources, and the second is liquidity provision by banks though money creation. We show that without elastic aggregate liquidity provided by banks, coalitions can not actually perform their risk-sharing function, their attempt to sell assets to raise liquidity will only make asset prices decrease further, without actually raising more liquidity for shareholders hit by liquidity shocks. However, with banks providing elastic aggregate liquidity, people can indeed achieve better risk-sharing though coalitions. Finally, we show that the central bank can help banks provide liquidity to the market by lending to banks at low interest rates during the inter-bank settlement process, so as to relax the liquidity constraint of banks." @default.
- W2108214906 created "2016-06-24" @default.
- W2108214906 creator A5019980191 @default.
- W2108214906 date "2011-01-01" @default.
- W2108214906 modified "2023-09-23" @default.
- W2108214906 title "Bank money, aggregate liquidity, and asset prices" @default.
- W2108214906 cites W1537143241 @default.
- W2108214906 cites W1574228020 @default.
- W2108214906 cites W1577609061 @default.
- W2108214906 cites W1597552590 @default.
- W2108214906 cites W1967385705 @default.
- W2108214906 cites W2000167201 @default.
- W2108214906 cites W2006970892 @default.
- W2108214906 cites W2024784298 @default.
- W2108214906 cites W2073171162 @default.
- W2108214906 cites W2099956863 @default.
- W2108214906 cites W2134581155 @default.
- W2108214906 cites W2144016772 @default.
- W2108214906 cites W2145517162 @default.
- W2108214906 cites W2151449734 @default.
- W2108214906 cites W2157509893 @default.
- W2108214906 cites W2187934015 @default.
- W2108214906 cites W2739606184 @default.
- W2108214906 cites W3122579293 @default.
- W2108214906 cites W3124601445 @default.
- W2108214906 hasPublicationYear "2011" @default.
- W2108214906 type Work @default.
- W2108214906 sameAs 2108214906 @default.
- W2108214906 citedByCount "1" @default.
- W2108214906 countsByYear W21082149062013 @default.
- W2108214906 crossrefType "posted-content" @default.
- W2108214906 hasAuthorship W2108214906A5019980191 @default.
- W2108214906 hasConcept C126285488 @default.
- W2108214906 hasConcept C144133560 @default.
- W2108214906 hasConcept C162324750 @default.
- W2108214906 hasConcept C176923680 @default.
- W2108214906 hasConcept C183582576 @default.
- W2108214906 hasConcept C189259953 @default.
- W2108214906 hasConcept C189722922 @default.
- W2108214906 hasConcept C190896228 @default.
- W2108214906 hasConcept C204468989 @default.
- W2108214906 hasConcept C2777871818 @default.
- W2108214906 hasConcept C38652104 @default.
- W2108214906 hasConcept C41008148 @default.
- W2108214906 hasConcept C556758197 @default.
- W2108214906 hasConcept C76178495 @default.
- W2108214906 hasConcept C8573378 @default.
- W2108214906 hasConceptScore W2108214906C126285488 @default.
- W2108214906 hasConceptScore W2108214906C144133560 @default.
- W2108214906 hasConceptScore W2108214906C162324750 @default.
- W2108214906 hasConceptScore W2108214906C176923680 @default.
- W2108214906 hasConceptScore W2108214906C183582576 @default.
- W2108214906 hasConceptScore W2108214906C189259953 @default.
- W2108214906 hasConceptScore W2108214906C189722922 @default.
- W2108214906 hasConceptScore W2108214906C190896228 @default.
- W2108214906 hasConceptScore W2108214906C204468989 @default.
- W2108214906 hasConceptScore W2108214906C2777871818 @default.
- W2108214906 hasConceptScore W2108214906C38652104 @default.
- W2108214906 hasConceptScore W2108214906C41008148 @default.
- W2108214906 hasConceptScore W2108214906C556758197 @default.
- W2108214906 hasConceptScore W2108214906C76178495 @default.
- W2108214906 hasConceptScore W2108214906C8573378 @default.
- W2108214906 hasIssue "2" @default.
- W2108214906 hasLocation W21082149061 @default.
- W2108214906 hasOpenAccess W2108214906 @default.
- W2108214906 hasPrimaryLocation W21082149061 @default.
- W2108214906 hasRelatedWork W1545679641 @default.
- W2108214906 hasRelatedWork W1550772245 @default.
- W2108214906 hasRelatedWork W2142361757 @default.
- W2108214906 hasRelatedWork W2230570647 @default.
- W2108214906 hasRelatedWork W2267346264 @default.
- W2108214906 hasRelatedWork W2336114196 @default.
- W2108214906 hasRelatedWork W2509790785 @default.
- W2108214906 hasRelatedWork W2611681196 @default.
- W2108214906 hasRelatedWork W3120642574 @default.
- W2108214906 hasRelatedWork W3121136076 @default.
- W2108214906 hasRelatedWork W3121417291 @default.
- W2108214906 hasRelatedWork W3121501152 @default.
- W2108214906 hasRelatedWork W3121797690 @default.
- W2108214906 hasRelatedWork W3122212348 @default.
- W2108214906 hasRelatedWork W3122516512 @default.
- W2108214906 hasRelatedWork W3124413642 @default.
- W2108214906 hasRelatedWork W3124432012 @default.
- W2108214906 hasRelatedWork W3124834670 @default.
- W2108214906 hasRelatedWork W3149552533 @default.
- W2108214906 hasRelatedWork W3199511709 @default.
- W2108214906 hasVolume "12" @default.
- W2108214906 isParatext "false" @default.
- W2108214906 isRetracted "false" @default.
- W2108214906 magId "2108214906" @default.
- W2108214906 workType "article" @default.