Chapter 6: Banks

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buir.contributor.authorGürkaynak, Refet S.
buir.contributor.authorWright, Jonathan H.
dc.citation.epage146en_US
dc.citation.spage126
dc.contributor.authorGürkaynak, Refet S.
dc.contributor.authorWright, Jonathan H.
dc.contributor.authorZakrajšek, Egon
dc.date.accessioned2024-03-15T06:07:12Z
dc.date.available2024-03-15T06:07:12Z
dc.date.issued2023-05-18
dc.departmentDepartment of Economics
dc.description.abstractBanking is a particular model of financial intermediation whereby one institution takes in liquid deposits and makes longer-term, generally illiquid, loans. This is a very specific and potentially unstable form of financial intermediation. Nonetheless, it is ubiquitous over time and across countries. This chapter reviews the reasons why banks exist and are so important, and what impact they have on the real economy. It concludes with a discussion of stablecoins and central bank digital currencies, which are closely related to banking.
dc.identifier.doi10.4337/9781800375321.00013
dc.identifier.eissn9781800375321
dc.identifier.issn9781800375314
dc.identifier.urihttps://hdl.handle.net/11693/114767
dc.language.isoen_US
dc.publisherEdward Elgar Publishing
dc.relation.ispartofResearch handbook of financial markets
dc.relation.isversionofhttps://doi.org/10.4337/9781800375321.00013
dc.subjectBanks
dc.subjectAdverse selection
dc.subjectMoral hazard
dc.subjectBanking relationships
dc.subjectFinancial stability
dc.subjectDigital currency
dc.subjectRegulation
dc.titleChapter 6: Banks
dc.typeBook Chapter
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