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Replication data for: Banking, Liquidity, and Bank Runs in an Infinite Horizon Economy

Version
1
Resource Type
Dataset
Creator
  • Gertler, Mark
  • Kiyotaki, Nobuhiro
Publication Date
2015-07-01
Description
  • Abstract

    We develop an infinite horizon macroeconomic model of banking that allows for liquidity mismatch and bank runs. Whether a bank run equilibrium exists depends on bank balance sheets and an endogenous liquidation price for bank assets. While in normal times a bank run equilibrium may not exist, the possibility can arise in recessions. A run leads to a significant contraction in intermediation and aggregate economic activity. Anticipations of a run have harmful effects on the economy even if the run does not occur. We illustrate how the model can shed light on some key aspects of the recent financial crisis. (JEL E23, E32, E44, G01, G21, G33)
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/aer.20130665 (Text)
Publications
  • Gertler, Mark, and Nobuhiro Kiyotaki. “Banking, Liquidity, and Bank Runs in an Infinite Horizon Economy.” American Economic Review 105, no. 7 (July 2015): 2011–43. https://doi.org/10.1257/aer.20130665.
    • ID: 10.1257/aer.20130665 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-12

Gertler, Mark; Kiyotaki, Nobuhiro (2015): Replication data for: Banking, Liquidity, and Bank Runs in an Infinite Horizon Economy. Version: 1. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E112923V1