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关于道格拉斯·戴蒙德的名人名言哲理格言警句语录 - 每日文摘
道格拉斯·戴蒙德 银行与金融危机研究

道格拉斯·戴蒙德是芝加哥大学教授,因其对银行和金融中介理论的研究而获奖。他与菲利普·迪布维格共同开发了银行挤兑模型,解释了银行体系的脆弱性。

Deposit insurance changes the behavior of both banks and depositors.
When everyone tries to sell at the same time, liquidity disappears.
当每个人都试图同时出售时,流动性就消失了。
The interbank market is the circulatory system of modern finance.
Regulation should focus on reducing the likelihood of runs, not just preventing failures.
监管应侧重于减少挤兑的可能性,而不仅仅是防止破产。
Confidence is the most precious commodity in the financial system.
The key function of banks is transforming illiquid assets into liquid liabilities.
银行的关键功能是将非流动性资产转化为流动性负债。
Short-term debt can be dangerous because it creates the possibility of sudden runs.
短期债务可能是危险的,因为它创造了突然挤兑的可能性。
A financial crisis is often a self-fulfilling prophecy driven by panic.
The fragility of banks is a direct consequence of their role as liquidity providers.
银行的脆弱性是其作为流动性提供者角色的直接后果。
Banks exist because they help mitigate problems created by information asymmetries.
银行的存在是因为它们有助于缓解信息不对称造成的问题。