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A Classroom Financal Market Experiment

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  • Jonathan E. Alevy

    ()
    (Department of Economics, University of Alaska Anchorage)

  • Paul Ronald Johnson

    ()
    (Department of Economics, University of Alaska Anchorage)

Abstract

This computerized web experiment immerses students in an environment where they are in the role of bank managers, complementing existing experiments in which they act as depositors. The experiment is programmed to run on a variety of devices, including student’s phones and is suitable for use in intermediate macroeconomics or money and banking courses. Students learn the basic elements of bank balance sheets, the tradeoffs a bank makes when it hedges against liquidity risk, and the macroeconomic implications of the network aspects of the banking system. Key parameters are chosen by the instructor, and all results are saved as a spreadsheet data file. Early trials show that a team's performance is positively correlated with its success in managing interbank deposits.

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File URL: http://www.econpapers.uaa.alaska.edu/RePEC/ala/wpaper/ALA201301.pdf
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Bibliographic Info

Paper provided by University of Alaska Anchorage, Department of Economics in its series Working Papers with number 2013-01.

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Date of creation: Aug 2013
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Handle: RePEc:ala:wpaper:2013-01

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Web page: http://www.cbpp.uaa.alaska.edu/CBPPHome/DepartmentsandMajors/Economics.aspx
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Keywords: asset pricing; laboratory experiments; advice;

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  1. Gorton, Gary B., 2010. "Slapped by the Invisible Hand: The Panic of 2007," OUP Catalogue, Oxford University Press, number 9780199734153.
  2. Diamond, Douglas W & Dybvig, Philip H, 1983. "Bank Runs, Deposit Insurance, and Liquidity," Journal of Political Economy, University of Chicago Press, vol. 91(3), pages 401-19, June.
  3. Balkenborg, Dieter & Kaplan, Todd R. & Miller, Tim, 2009. "Teaching Bank Runs with Classroom Experiments," MPRA Paper 18635, University Library of Munich, Germany.
  4. Simpson, Nicole & de Araujo, Pedro & O'Sullivan, Roisin, 2012. "What should be taught in Intermediate Macroeconomics?," Working Papers 2012-01, Department of Economics, Colgate University.
  5. Susan K. Laury & Charles A. Holt, 2000. "Classroom Games: Making Money," Journal of Economic Perspectives, American Economic Association, vol. 14(2), pages 205-213, Spring.
  6. Mary Mathewes Kassis & Denise Hazlett & Jolanda E. Ygosse Battisti, 2012. "A Classroom Experiment on Banking," The Journal of Economic Education, Taylor & Francis Journals, vol. 43(2), pages 200-214, April.
  7. Cameron, Norman E, 1997. "Teaching Tools: Simulating Money Supply Creation in Class," Economic Inquiry, Western Economic Association International, vol. 35(3), pages 686-93, July.
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