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RESUME:Cette note évalue les conséquences de la politique des réserves obligatoires (ro) sur l'équilibrede long terme dans économie en développement à la Bencivenga et Smith (1992). Ces derniersmontrent que le taux des réserves obligatoires optimal est constant. Dans cette contribution,nous montrons que le taux optimal des ro devient endogène, lorsque les entrepreneurs sontneutres vis-à-vis du risque. Les banques peuvent constituer des réserves libres, déjouant ainsi lapolitique des réserves obligatoires dont l'impact dépend aussi du taux d'imposition. Le contrôlede l'offre de monnaie devient nettement plus complexe en comparaison de Bencivenga et Smith(1992). ; ABSTRACT:In this note we consider the consequences of the reserve requirement policy on the long runeconomic equilibrium in a modified version of the Bencivenga and Smith model (1992). Theoptimal reserve requirement rate is constant. We show that this result is no longer valid whenwe assume that entrepreneurs are risk neutral. The optimal reserve requirement depends on theprices of the factors of production factor and the fiscal rate. In this respect the role of reserverequirements in determining the size of the money multiplier and the magnitude of bank creditexpansion is getting harder when compared to the Bencivenga and Smith's reserve requirement. ; info:eu-repo/semantics/published ; Special Issue30th Symposium on Money, Banking and FinanceGuest editors: Christian Aubin, Noëlle Duport andDaniel Goyeau

AbstractWe analyzed the impact of the supervisory capability of the supervisory board and the incentive to the supervisory board on stock price crash risk. We found that the exercise quality of the members of the supervisory board will affect stock price crash risk. The improvement of their education degree can inhibit the risk of the stock price crash, and there is a negative correlation between the average age of the members and stock price crash risk. In terms of supervision incentives, the higher the shareholding ratio of the supervisory board and the higher the proportion of unpaid supervisors, the lower the stock price crash risk.