Bank runs in practice and theory
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| Format: | Artículo científico |
| Langue: | en |
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Universidad Nacional Autónoma de México
2023
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| _version_ | 1876458295358652416 |
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| author | Esteban Pérez Caldentey |
| author_facet | Esteban Pérez Caldentey |
| contents | Bank runs in practice and theory Esteban Pérez Caldentey Matías Vernengo Economía y Finanzas Bank runs fundamentals cooperative economy coordination failure entrepreneur economy The paper shows that past bank run episodes in the United States display a common pattern. Runs are endogenous to situations of perceived insolvency concerns resulting from the adoption of risky practices driven by the profit motive within a context of lose/inadequate regulation or deregulation. Risky practices make financial institutions more vulnerable to changes in external conditions. The mainstream approaches to bank runs are based on a characterization of an economy that resembles a cooperative economy (all resources are shared equally by all participants) rather than an entrepreneur economy whose end-motive is profit making. As a result, they provide implausible stories about bank runs. Building on the stylized facts of bank runs this paper presents the main building blocks for an alternative theory. Jel Classification:F42, F44, G20, G21, N00. 2023 artículo científico 0185-1667 https://www.redalyc.org/articulo.oa?id=60179526003 https://www.redalyc.org/journal/601/60179526003/ https://www.redalyc.org/journal/601/60179526003/html/ https://www.redalyc.org/journal/601/60179526003/60179526003.epub https://www.redalyc.org/journal/601/60179526003/movil 10.22201/fe.01851667p.2023.325.86166 en http://www.redalyc.org/revista.oa?id=601 Investigación Económica application/pdf Universidad Nacional Autónoma de México Investigación Económica (México) Num.325 Vol.82 |
| format | Artículo científico |
| id | redalyc_60179526003 |
| institution | Redalyc |
| language | en |
| publishDate | 2023 |
| publisher | Universidad Nacional Autónoma de México |
| spellingShingle | Bank runs in practice and theory Esteban Pérez Caldentey Economía y Finanzas Bank runs fundamentals cooperative economy coordination failure entrepreneur economy Bank runs in practice and theory Esteban Pérez Caldentey Matías Vernengo Economía y Finanzas Bank runs fundamentals cooperative economy coordination failure entrepreneur economy The paper shows that past bank run episodes in the United States display a common pattern. Runs are endogenous to situations of perceived insolvency concerns resulting from the adoption of risky practices driven by the profit motive within a context of lose/inadequate regulation or deregulation. Risky practices make financial institutions more vulnerable to changes in external conditions. The mainstream approaches to bank runs are based on a characterization of an economy that resembles a cooperative economy (all resources are shared equally by all participants) rather than an entrepreneur economy whose end-motive is profit making. As a result, they provide implausible stories about bank runs. Building on the stylized facts of bank runs this paper presents the main building blocks for an alternative theory. Jel Classification:F42, F44, G20, G21, N00. 2023 artículo científico 0185-1667 https://www.redalyc.org/articulo.oa?id=60179526003 https://www.redalyc.org/journal/601/60179526003/ https://www.redalyc.org/journal/601/60179526003/html/ https://www.redalyc.org/journal/601/60179526003/60179526003.epub https://www.redalyc.org/journal/601/60179526003/movil 10.22201/fe.01851667p.2023.325.86166 en http://www.redalyc.org/revista.oa?id=601 Investigación Económica application/pdf Universidad Nacional Autónoma de México Investigación Económica (México) Num.325 Vol.82 |
| title | Bank runs in practice and theory |
| topic | Economía y Finanzas Bank runs fundamentals cooperative economy coordination failure entrepreneur economy |
| url | https://www.redalyc.org/articulo.oa?id=60179526003 https://www.redalyc.org/journal/601/60179526003/ https://www.redalyc.org/journal/601/60179526003/html/ https://www.redalyc.org/journal/601/60179526003/60179526003.epub https://www.redalyc.org/journal/601/60179526003/movil |