Electronic Resource
Oxford, UK and Boston, USA
:
Blackwell Publishers Ltd.
Review of international economics
10 (2002), S. 0
ISSN:
1467-9396
Source:
Blackwell Publishing Journal Backfiles 1879-2005
Topics:
Economics
Notes:
The authors examine the role of strategic interactions among a small number of financial intermediaries who know that the current financial regime is subject to change. The current financial regime offers protection to the intermediaries against bad outcomes. Each financial intermediary’s investment strategy is shown to depend on its rivals’ strategies. It is shown that a small shock that causes an initially small deviation from an intermediary’s equilibrium strategy can lead to a series of larger deviations by its rivals, thereby precipitating a change of financial regime.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1111/1467-9396.00312
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