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Optimal allocation of interest rate risk

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dc.affiliation.dptoUC3M. Departamento de Economía de la Empresaes
dc.contributor.authorSamartín, Margarita
dc.contributor.editorUniversidad Carlos III de Madrid. Departamento de Economía de la Empresa
dc.date.accessioned2010-02-25T08:53:00Z
dc.date.available2010-02-25T08:53:00Z
dc.date.issued1997-02
dc.description.abstractBased on the work of Hellwig (1994), this paper characterizes the optimal allocation of technology-induced interest rate risk in a competitive system of financial intermediation and its interdependence with the provision of liquidity. The analysis is carried out under the assumptions of complete and incomplete information respectively. The implementation of the second best allocation by a financial intermediary is compared to the one achieved in an equity economy in which individuals hold the assets directly.
dc.format.mimetypeapplication/pdf
dc.identifier.urihttp://hdl.handle.net/10016/7013
dc.language.isoeng
dc.relation.ispartofseriesUC3M Working papers. Business Economics
dc.relation.ispartofseries97-18-01
dc.rightsAtribución-NoComercial-SinDerivadas 3.0 España
dc.rights.accessRightsopen access
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.subject.ecienciaEmpresa
dc.subject.otherBanking
dc.subject.otherDeposit contracts
dc.subject.otherLiquidity
dc.subject.otherInterest rate risk
dc.titleOptimal allocation of interest rate risk
dc.typeworking paper*
dspace.entity.typePublication
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