Capital and reserve requirements to control liquidity shocks: an agent based perspective
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Título
Capital and reserve requirements to control liquidity shocks: an agent based perspectiveAutoría
Tutor/Supervisor
Teglio, AndreaTutor/Supervisor; Universidad.Departamento
Universitat Jaume I. Departament d'EconomiaFecha de publicación
2016-07-18Editor
Universitat Jaume IResumen
In this paper, we present an agent based model of the banking system, including
banks households and a central bank. The model is able to address some relevant economic
issues regarding liquidity shocks, shocks on ... [+]
In this paper, we present an agent based model of the banking system, including
banks households and a central bank. The model is able to address some relevant economic
issues regarding liquidity shocks, shocks on assets, inequality wealth distributions
and herding effects. By analyzing the effects that different policy configurations have on
the system, we show that capital requirements are more effective than cash reserve restrictions
in order to guarantee the robustness of the banking system. However, in case
of high economic instability, liquidity requirements become ineffective. Also, we find that
when the central bank is acting as a lender of last resource, capital requirement regulation
becomes irrelevant, or even negative for economic growth. We also show that inequality
among households wealth has a negative effect in both stability and growth. Finally,
the model confirms that panic and herding among households accelerates the banking
system breakdown. [-]
Palabras clave / Materias
Descripción
Treball Final de Grau en Economia. Codi: EC1049. Curs: 2015/2016
Tipo de documento
info:eu-repo/semantics/bachelorThesisDerechos de acceso
info:eu-repo/semantics/openAccess
Aparece en las colecciones
- Grau en Economia [292]
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