Listagem FGV EPGE - Ensaios Econômicos por autor "Cavalcanti, Ricardo de Oliveira"
Itens para a visualização no momento 1-7 of 7
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Enriching information to prevent bank runs
2011-07-27Sequential service in the banking sector, as modeled by Diamond and Dybvig (1983), is a barrier to full insurance and potential source of financial fragility against which deposit insurance is infeasible (Wallace, 1988). ... -
A monetary mechanism for sharing capital: Diamond and Dybvig meet Kiyotaki and Wright
2003-03-24A model is presented in which banks accept deposits of fiat money and intermediate capital. Alt though theories about the coexistence of money and credit are inherently difficult, the model offers a simple explanation for ... -
Money with Bank Networks
2004-06-01We allow banks to choose between two networks in a simple version of the Cavalcanti and Wallace (1999) model of inside money. Members of a network have access to credit but must redeem banknotes issued by other members in ... -
New models of old(?) payment questions
2006-09-01Is private money feasible and desirable? In its absence, is there a central bank policy that partially or fully substitutes for private money? In this paper, some recent modeling ideas about how to address these questioned ... -
A note on convergence of Peck-Shell and Green-Lin mechanisms in the Diamond-Dybvig model
2011-07-27We study the effects of population size in the Peck-Shell analysis of bank runs. We find that a contract featuring equal-treatment for almost all depositors of the same type approximates the optimum. Because the approximation ... -
Some benefits of cyclical monetary policy
2005-10-01In this paper, we present a simple random-matching model of seasons, where di§erent seasons translate into di§erent propensities to consume and produce. We Önd that the cyclical creation and destruction of money is beneÖcial ...
