Deposit Insurance and Orderly Liquidation without Commitment: Can we Sleep Well?
---- Acknowledgments ----
Russell Cooper is grateful to the NSF for financial support. Comments from Todd Keister, Antoine Martin, Jonathan Willis and seminar participants at the Banque de France, the University of Bologna, the Central Bank of Turkey, Koc University, the RMM Conference 2010 at the University of Toronto, Washington University at St. Louis, the Riksbank, the University of Pennsylvania, Rice University, the University of Iowa, the Tinbergen Institute and the Federal Reserve Bank of Kansas City are appreciated. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.