IS FAIRLY PRICED DEPOSIT INSURANCE POSSIBLE

被引：119

作者：

CHAN, YS ^{[1
]}

GREENBAUM, SI ^{[1
]}

THAKOR, AV ^{[1
]}

机构：

[1] INDIANA UNIV,SCH BUSINESS,BLOOMINGTON,IN 47401

来源：

JOURNAL OF FINANCE | 1992年 / 47卷 / 01期

关键词：

D O I：

10.2307/2329096

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We analyze risk-sensitive, incentive-compatible deposit insurance in the presence of private information and moral hazard. Without deposit-linked subsidies it is impossible to implement risk-sensitive, incentive-compatible deposit insurance pricing in a competitive, deregulated environment, except when the deposit insurer is the least risk averse agent in the economy. We establish this formally in the context of an insurance scheme in which privately informed depository institutions are offered deposit insurance premia contingent on reported capital; the result holds for alternative sorting instruments as well. This suggests a contradiction between deregulation and fairly priced, risk-sensitive deposit insurance.

引用

页码：227 / 245

页数：19

共 38 条

[31] INNOVATION IN MONETARY-POLICY - CHALLENGE AND RESPONSE [J].