Depositor Behavior under Macroeconomic Risk: Evidence from Bank Runs in Emerging Economies
AbstractDepositor behavior has been associated with bank-specific characteristics, random runs, or contagion episodes. Using evidence on the 2000-02 bank runs in Argentina and Uruguay, this paper shows that macroeconomic risk is also important. Few macroeconomic shocks can quickly cause large runs. Macroeconomic risk affects deposits regardless of traditional bank-specific characteristics. Furthermore, bank exposure to macroeconomic factors can explain differences in deposit withdrawals. During crises, the evolution of bank-specific characteristics is mainly driven by macroeconomic factors, while the informational content of bank-specific variables declines. Overall, depositors seem responsive to risk in a broader sense than that often considered by the literature. Copyright (c) 2010 The Ohio State University.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Blackwell Publishing in its journal Journal of Money, Credit and Banking.
Volume (Year): 42 (2010)
Issue (Month): 4 (06)
Contact details of provider:
Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879
You can help add them by filling out this form.
Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- Crisis Trillizas y el fantasma de un nuevo Dracma
by Eduardo Levy Yeyati, Maria Soledad Martinez Peria y Sergio Schmukler in Colectivo EconÃ³mico on 2011-07-18 12:00:00
- Ideen und Interessen
by Tobias Straumann in Never mind the markets on 2012-07-31 04:00:32
- repec:cml:moneta:v:i:y:2013:i:1:p:87-165 is not listed on IDEAS
- Guillermo Calvo & Alejandro Izquierdo & Rudy Loo-Kung, 2013.
"Optimal Holdings of International Reserves: Self-insurance against Sudden Stops,"
Centro de Estudios Monetarios Latinoamericanos, vol. 0(1), pages 1-35, January-j.
- Guillermo A. Calvo & Alejandro Izquierdo & Rudy Loo-Kung, 2012. "Optimal Holdings of International Reserves: Self-Insurance against Sudden Stop," NBER Working Papers 18219, National Bureau of Economic Research, Inc.
- repec:cml:moneta:v:i:y:2013:i:1:p:199-230 is not listed on IDEAS
- Vittorio Corbo & Klaus Schmidt-Hebbel, 2013. "The International Crisis and Latin America," Monetaria, Centro de Estudios Monetarios Latinoamericanos, vol. 0(1), pages 37-62, January-j.
- repec:cml:moneta:v:i:y:2013:i:1:p:37-62 is not listed on IDEAS
- João Pedro Bumachar Resende & Ilan Goldfajn, 2013. "Latin America During the Crisis: The Role of Fundamentals," Monetaria, Centro de Estudios Monetarios Latinoamericanos, vol. 0(1), pages 167-198, January-j.
- Manuel Ramos -Francia & Ana María Aguilar-Argaez & Santiago García-Verdú & Gabriel Cuadra-García, 2013. "Heading into Trouble: A Comparison of the Latin American Crises and the Euro Area’s Current Crisis," Monetaria, Centro de Estudios Monetarios Latinoamericanos, vol. 0(1), pages 87-165, January-j.
- Eduardo Levy Yeyati & Tomas Williams, 2011.
"Emerging economies in the 2000s:Real decoupling and financial recoupling,"
Business School Working Papers
2011-06_correccion, Universidad Torcuato Di Tella.
- Levy Yeyati, Eduardo & Williams, Tomas, 2012. "Emerging economies in the 2000s: Real decoupling and financial recoupling," Journal of International Money and Finance, Elsevier, vol. 31(8), pages 2102-2126.
- Yeyati, Eduardo Levy & Williams, Tomas, 2012. "Emerging economies in the 2000s : real decoupling and financial recoupling," Policy Research Working Paper Series 5961, The World Bank.
- repec:cml:moneta:v:i:y:2013:i:1:p:1-35 is not listed on IDEAS
- repec:cml:moneta:v:i:y:2013:i:1:p:63-85 is not listed on IDEAS
- Eduardo Levy Yeyati, 2013. "Things We Learn from Crises," Monetaria, Centro de Estudios Monetarios Latinoamericanos, vol. 0(1), pages 199-230, January-j.
- Allan Hernández & Alberto Trejos, 2013. "Fiscal Moral Hazard Due to Monetary Integration," Monetaria, Centro de Estudios Monetarios Latinoamericanos, vol. 0(1), pages 63-85, January-j.
- repec:cml:moneta:v:i:y:2013:i:1:p:167-198 is not listed on IDEAS
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.