Liquidity creation through banks and markets: Multiple insurance and limited market access

Authors
von Thadden, EL
Citation
El. Von Thadden, Liquidity creation through banks and markets: Multiple insurance and limited market access, EUR ECON R, 43(4-6), 1999, pp. 991-1006
Citations number
21
Categorie Soggetti
Economics
Journal title
EUROPEAN ECONOMIC REVIEW
ISSN journal
00142921 → ACNP
Volume
43
Issue
4-6
Year of publication
1999
Pages
991 - 1006
Database
ISI
SICI code
0014-2921(199904)43:4-6<991:LCTBAM>2.0.ZU;2-X
Abstract
The paper studies the intertemporal allocation of funds through demand depo sits and anonymous markets, first separately and then in an integrated mode l. It reviews some work on the role of market frictions and asset character istics, and suggests that the interplay between these two is crucial in exp laining the observed coexistence of demand deposits and anonymous markets. (C) 1999 Elsevier Science B.V. All rights reserved.