Understanding Runs in the Shadow Banking System
http://clsbluesky.law.columbia.edu/2016/12/05/understanding-runs-in-the-shadow-banking-system/ [clsbluesky.law.columbia.edu]
2016-12-05 20:39
In a new paper, “Information Gaps and Shadow Banking,” forthcoming in the Virginia Law Review and available here, I offer a novel, complementary explanation for why short-term creditors run: information nobody possesses.