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SUMMARY:Smart Banks - Alkis Georgiadis-Harris (University of Warwick)
DTSTART;VALUE=DATE-TIME:20241115T141500Z
DTEND;VALUE=DATE-TIME:20241115T153000Z
UID:https://talks.ox.ac.uk/talks/id/c62629df-6bc0-4e52-8ef3-a89b9ecfdfed/
DESCRIPTION:Since Diamond and Dybvig (1983)\, banks have been viewed as in
 herently fragile. We challenge this view in a general mechanism design fra
 mework. Our approach allows for flexibility in the design of banking mecha
 nisms while maintaining limited commitment of the intermediary to future m
 echanisms. We find that the unique equilibrium outcome is efficient. Conse
 quently\, runs cannot occur in equilibrium. Our analysis points to the ult
 imate sources of fragility: banks are fragile if they cannot collect and o
 ptimally respond to useful information during a run\, and not because they
  engage in maturity transformation. We link our banking mechanisms to rece
 nt technological advances surrounding ‘smart contracts\,’ which enrich
  the contracting space and can be used to eliminate financial fragility.\n
 Speakers:\nAlkis Georgiadis-Harris (University of Warwick)
LOCATION:Manor Road Building (Seminar Room G)\, Manor Road OX1 3UQ
TZID:Europe/London
URL:https://talks.ox.ac.uk/talks/id/c62629df-6bc0-4e52-8ef3-a89b9ecfdfed/
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DESCRIPTION:Talk:Smart Banks - Alkis Georgiadis-Harris (University of Warw
 ick)
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