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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

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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Bibliographic 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;

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