Lukas Voellmy

Welcome! I am an economist at the Swiss National Bank (Research Coordination). This site contains some information about my research, which focuses on models of financial crises, in particular bank panics.

From March-May 2024, I will be visiting the Peterson Institute for International Economics.

E-Mail: lukas.voellmy@snb.ch

Disclaimer: The views expressed in all work on this website are those of the authors and are not necessarily reflective of views at the SNB.

Papers

Decomposing Liquidity Risk in Banking Models (working paper)
Systemic Bank Runs without Aggregate Risk: How a Misallocation of Liquidity May Trigger a Solvency Crisis (working paper)
with Lukas Altermatt and Hugo van Buggenum
R&R, Journal of Financial Economics

Preventing Runs Under Sequential Revelation of Liquidity Needs (link to paper)
Journal of Economic Dynamics and Control, 2024
The Optimal Distribution of Insured and Uninsured Deposits Across Banks (link to paper)
Macroeconomic Dynamics , 2023
Internet Appendix

Previous version published under the title "Shadow Banking and Financial Stability Under Limited Deposit Insurance" as ESRB Working Paper (finalist of the Ieke van den Burg Prize for research on systemic risk)

Preventing Runs with Fees and Gates (link to paper)
Journal of Banking and Finance, 2021

Work in Progress

Banking in a CIA Model: The Liquidity Trap and Equilibrium Multiplicity (with Lukas Altermatt and Hugo van Buggenum)
Redemption Fees and Gates in the Lab (with Hubert Kiss and Alfonso Rosa)