Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/173262
Authors: 
Bofinger, Peter
Maas, Daniel
Ries, Mathias
Year of Publication: 
2017
Series/Report no.: 
W.E.P. - Würzburg Economic Papers 98
Abstract: 
Since the financial crisis there exists a widespread discussion about the role of banking in a monetary economy. We contribute to this discussion by presenting a basic model of the banking sector which models banks as originators of credit without owning pre-collected savings or reserves beforehand. Additionally, we estimate an empirical model of the German credit market for non-financial corporations in a disequilibrium framework. Empirically, we detect a significant role for the variables that are chosen on the basis of our price-theoretic model.
Subjects: 
Credit
Money Supply
Money Multiplier
JEL: 
E51
Document Type: 
Working Paper
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