Bruno Sultanum
Federal Reserve System
26 Papers
79 Citations
Bruno Sultanum is an academic researcher from Federal Reserve System. The author has contributed to research in topics: Market liquidity & Primary market. The author has an hindex of 7, co-authored 22 publications. Previous affiliations of Bruno Sultanum include Pennsylvania State University.
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Papers
Preventing bank runs
TL;DR: In this article, the authors propose an indirect bank run prevention mechanism that allows depositors to communicate their beliefs, not just their types, and incentivizes them to communicate rumors of an impending bank run, and threatens to suspend payments conditional on what is revealed in these communications.
27
Optimal Diamond–Dybvig mechanism in large economies with aggregate uncertainty
TL;DR: The authors characterizes the direct mechanism which implements the constrained optimal outcome in a version of Diamond and Dybvig (1983) with aggregate uncertainty and a continuum of agents, using this result, numerical examples where the best direct mechanism has a bank run-equilibrium are easily obtained.
23
Preventing Bank Runs
TL;DR: In this article, the authors propose an indirect bank-run mechanism with the following two properties: first, it provides depositors an incentive to communicate whether they believe a run is on or not, and second, the mechanism threatens a suspension of convertibility conditional on what is revealed in these communications.
17
Asset issuance in over-the-counter markets
TL;DR: In this paper, the authors show that the level of asset issuance and its efficiency depend on how investors split the surplus in secondary market trade and propose a tax/subsidy scheme to restore efficiency.
15
Nonparametric Estimation of the Diamond-Dybvig Banking Model
TL;DR: In this article, a nonparametric structural estimator for the distribution of liquidity needs in a version of the Diamond and Dybvig (1983) model when only the aggregate level of withdrawals is observed is proposed.