Demand deposit banking and open market operations

Romar Correa

Macroeconomics and Finance in Emerging Market Economies, 2008, vol. 1, issue 1, 67-73

Abstract: The institutional combination of illiquid assets and demand deposit banking is regarded as vulnerable to collapse because of the impatience of depositors. We suggest that the mechanism of fully backed central bank money is a means of redress.

Keywords: closed-loop information structures; feedback information structures (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1080/17520840701856241

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