Advanced Search
MyIDEAS: Login to save this paper or follow this series

La relation liquidité-prix d'actifs comme complément au principe de sélectivité du renflouement par un prêteur en dernier ressort

Contents:

Author Info

  • Marie-Sophie Gauvin

    (USTV UFR SEG - Université Sud-Toulon-Var - UFR Sciences économiques et de gestion - Ministère de l'Enseignement Supérieur et de la Recherche Scientifique)

Registered author(s):

    Abstract

    La récurrence des épisodes critiques touchant le Système financier international durant les dernières décennies ainsi que la violence et la longévité du dernier choc en date constituent une motivation à poser un cadre théorique intelligible concernant la gestion des crises. L'objet du papier est de présenter un modèle de Prêt en Dernier Ressort alliant à la fois gestion de crise et limitation de l'aléa moral, principal effet pervers inhérent à l'intervention. L'idée est de s'inscrire dans le prolongement de ce modèle préconisant la Sélectivité du Renflouement et de souligner les risques liés à un apport de liquidité dans le système financier, en soulevant l'importance de la relation entre la liquidité et les prix d'actifs. Ce constat nous emmène à envisager plusieurs scénarii de sortie de crise.

    Download Info

    If 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.
    File URL: http://dumas.ccsd.cnrs.fr/docs/00/56/34/16/PDF/Gauvin-relation_liquidite_prix_actifs-2010.pdf
    Download Restriction: no

    Bibliographic Info

    Paper provided by HAL in its series Post-Print with number dumas-00563416.

    as in new window
    Length:
    Date of creation: 05 Jul 2010
    Date of revision:
    Handle: RePEc:hal:journl:dumas-00563416

    Note: View the original document on HAL open archive server: http://dumas.ccsd.cnrs.fr/dumas-00563416/en/
    Contact details of provider:
    Web page: http://hal.archives-ouvertes.fr/

    Related research

    Keywords: liquidité ; prix d'actifs ; prêt en dernier ressort ; sortie de crise;

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. De Bandt, Olivier & Hartmann, Philipp, 2000. "Systemic risk: A survey," Working Paper Series 0035, European Central Bank.
    2. Grégory Levieuge, 2005. "Politique monétaire et prix d'actifs," Revue de l'OFCE, Presses de Sciences-Po, vol. 93(2), pages 317-355.
    3. Evans, George W, 1991. "Pitfalls in Testing for Explosive Bubbles in Asset Prices," American Economic Review, American Economic Association, vol. 81(4), pages 922-30, September.
    4. Haizhou Huang & C. A. E. Goodhart, 2000. "A Simple Model of An International Lender of Last Resort," IMF Working Papers 00/75, International Monetary Fund.
    5. Froot, Kenneth A & Obstfeld, Maurice, 1991. "Intrinsic Bubbles: The Case of Stock Prices," American Economic Review, American Economic Association, vol. 81(5), pages 1189-214, December.
    6. Dooley, Michael P, 2000. "A Model of Crises in Emerging Markets," Economic Journal, Royal Economic Society, vol. 110(460), pages 256-72, January.
    7. Cécile Bastidon, 2002. "Financement extérieur des Pays en Développement : une revue de la littérature des modèles de dette et de crises financières," Post-Print hal-00730937, HAL.
    8. Jean-Paul Pollin, 2004. "Finance comportementale et volatilité," Revue d'Économie Financière, Programme National Persée, vol. 74(1), pages 139-156.
    Full references (including those not matched with items on IDEAS)

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:hal:journl:dumas-00563416. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD).

    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.