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3. Short answer questions. (a) How do living wills address the Implicit Guarantees problem? (b) Does the Diamond and Dybvig model predict when runs will

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3. Short answer questions. (a) How do living wills address the Implicit Guarantees problem? (b) Does the Diamond and Dybvig model predict when runs will occur? Explain. (c) What's the difference between loss spirals/ re sales and indirect link ages? How are they similar

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