5  This feature is in contrast to many other models in the Diamond-Dybvig (1983) tradition, which have multiple equilibria and hence convey a sense of fragility, but have less to say about what underlying variable tips the scales toward a run-like equilibrium.
The more pinned-down nature of the model in this paper comes from an application of the global-games methodology described in Morris and Shin (2003). 2  BIS central bankers’ speeches  management (AUM) from open-end funds.