OUTSIDE AND INSIDE LIQUIDITY

We propose an origination-and-contingent-distribution model of banking, in which liquidity demand by short-term investors (banks) can be met with cash reserves (inside liquidity) or sales of assets (outside liquidity) to long-term investors (hedge funds and pension funds). Outside liquidity is a mor...

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Veröffentlicht in:	The Quarterly journal of economics 2011-02, Vol.126 (1), p.259-321
Hauptverfasser:	Bolton, Patrick, Santos, Tano, Scheinkman, Jose A.
Format:	Artikel
Sprache:	eng
Schlagworte:	Asymmetric information Bank assets Bank liquidity Bank loans Banking Banking crises Cash Cash management Distribution Economic crisis Economic models Financial assets Financial models Investment Investors Liquidity Liquidity risk Market equilibrium Monetary reserves Studies Trade
Online-Zugang:	Volltext
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