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Moral Hazard in a model of Bank Run with Noisy Signals

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Author Info
Boonprakaikawe, Juntip (University of Warwick)
S. Ghosal

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Abstract

We show that multiple equilibria exist in a model of bank run with moral hazard. Furthermore, this is true even with noisy signals on the economic fundamentals. We argue that the conditions under which this happens can arise naturally in models of banking with moral hazard problem.

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File URL: http://repec.org/res2003/Boonprakaikawe.pdf
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Publisher Info
Paper provided by Royal Economic Society in its series Royal Economic Society Annual Conference 2003 with number 27.

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Date of creation: 04 Jun 2003
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Handle: RePEc:ecj:ac2003:27

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Web page: http://www.res.org.uk/society/annualconf.asp
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Related research
Keywords: banking; fundamentals; signals; equilibria;

Find related papers by JEL classification:
D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information
G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Mortgages

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This page was last updated on 2009-11-25.

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