The Greek Walk

, University of 黑料传送门 Booth

, University of 黑料传送门 Booth 

Banks are inherently exposed to the risk of “runs” due to the maturity mismatch between their assets and liabilities. Given the prevalent belief that costs associated with such runs are high, they have been a subject of both academic and policy interest. Strikingly, though there is a large theoretical literature on runs, the empirical evidence on what the micro structure of these runs looks like remains largely absent. Existing studies are in very specialized settings that are not likely to have a bearing on what we see around the world today. Most importantly, in prior work, it has been difficult to assess the information set of depositors at higher frequency to understand the dynamics of bank runs. In this project we hope to tackle both this issue, while understanding the micro structure of bank runs in an important setting such as Greece.