; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Diamond and Dybvig’s Classic Theory of Financial Intermediation: What’s Missing?"; ; "jannelle.ruswick@mpls.frb.org"; "Lin, Ping", "Green, Edward J."; "Federal Reserve Bank of Minneapolis"; "The article shows that in a finite-trader version of the Diamond and Dybvig model (1983), the ex ante efficient allocation can be implemented as a unique equilibrium. This is so even in the presence of the sequential service constraint, as emphasized by Wallace (1988), whereby the bank must solve a sequence of maximization problems as depositors contact it at different times. A three-trader example with constant relative risk-aversion utility is used in order to illustrate clearly the requirements that the sequential service constraint imposes on implementation."^^; "2000 Winter"; "2019-12-12T17:03:32.777472914+00:00"^^; "https://doi.org/10.21034/qr.2411"; ; "Mon Dec 16 17:36:20 2019"; "Article"; "456", "294"; "Quarterly review (Federal Reserve Bank of Minneapolis. Research Department)"; "Vol. 24, No. 1"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; ; "Publication" . ; .