Chapter 6: Banks

Date

2023-05-18

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Print ISSN

9781800375314

Electronic ISSN

9781800375321

Publisher

Edward Elgar Publishing

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Pages

126 - 146

Language

en_US

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Abstract

Banking 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.

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Book Title

Research handbook of financial markets

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Published Version (Please cite this version)