Should we reduce the role of banks in the monetary policy process?

John F. Boschen

Economic Review, 1988, vol. 73, issue Feb, 18-28

Abstract: The traditional view of banks in the monetary and price level control process is based on banks being producers of money in the form of deposits. Some economists have recently argued, however, that growth of bank deposits has no affect on price level stability. They say that the role of banks in the monetary policy process could be reduced with no adverse effect on price level stability, principally by removing reserve requirements.

Keywords: Bank reserves; Monetary policy; Bank deposits (search for similar items in EconPapers)
Date: 1988
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