Ekonomická a finančná matematika
http://www.iam.fmph.uniba.sk/studium/efm/forum/

Seminar centra pre ekonomiu a financie 22.4.2010
http://www.iam.fmph.uniba.sk/studium/efm/forum/viewtopic.php?f=17&t=333
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Autor:  kilianova [ Str Apr 14, 2010 1:28 pm ]
Predmet príspevku:  Seminar centra pre ekonomiu a financie 22.4.2010

Vazeni kolegovia,

pozyvame Vas na seminar Centra pre ekonomiu a financie Fakulty matematiky,
fyziky a informatiky Univerzity Komenskeho. Jeho obsahom bude prednaska

Gerhard Illing (University of Munich):

Endogenous Systemic Liquidity Risk,

ktora sa uskutocni vynimocne VO STVRTOK 22.4.2010 o 16:00 hod.
v poslucharni C na FMFI UK.

Abstrakt prednasky:
Traditionally, aggregate liquidity shocks are modelled as exogenous events. Extending our previous work (Cao & Illing, 2007), this paper analyses the adequate policy response to endogenous systemic liquidity risk. We analyse the feedback between lender of last resort policy and incentives of private banks, determining the aggregate amount of liquidity available. We show that imposing minimum liquidity standards for banks ex ante are a crucial requirement for sensible lender of last resort policy. In addition, we analyse the impact of equity requirements and narrow banking, in the sense that banks are required to hold sufficient liquid funds so as to pay out in all contingencies. We show that such a policy is strictly inferior to imposing minimum liquidity standards ex ante combined with lender of last resort policy.



Viac informacii o seminaroch najdete na web-stranke:
http://www.defm.fmph.uniba.sk/
v casti "Aktuality a seminare".

Tesime sa na Vasu ucast,

CEF

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