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https://hdl.handle.net/10419/19081
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Berentsen, Aleksander | en |
dc.contributor.author | Camera, Gabriele | en |
dc.contributor.author | Waller, Christopher Jude | en |
dc.date.accessioned | 2009-01-28T15:54:55Z | - |
dc.date.available | 2009-01-28T15:54:55Z | - |
dc.date.issued | 2005 | - |
dc.identifier.uri | http://hdl.handle.net/10419/19081 | - |
dc.description.abstract | In monetary models in which agents are subject to trading shocks there is typically an ex-postinefficiency in that some agents are holding idle balances while others are cash constrained.This inefficiency creates a role for financial intermediaries, such as banks, who acceptnominal deposits and make nominal loans. We show that in general financial intermediationimproves the allocation and that the gains in welfare arise from paying interest on depositsand not from relaxing borrowers? liquidity constraints. We also demonstrate that increasingthe rate of inflation can be welfare improving when credit rationing occurs. | en |
dc.language.iso | eng | en |
dc.publisher | |aCenter for Economic Studies and ifo Institute (CESifo) |cMunich | en |
dc.relation.ispartofseries | |aCESifo Working Paper |x1617 | en |
dc.subject.jel | D9 | en |
dc.subject.jel | E5 | en |
dc.subject.jel | E4 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | money | en |
dc.subject.keyword | credit | en |
dc.subject.keyword | rationing | en |
dc.subject.keyword | banking | en |
dc.subject.stw | Geldtheorie | en |
dc.subject.stw | Geld | en |
dc.subject.stw | Kredit | en |
dc.subject.stw | Mengenrationierung | en |
dc.subject.stw | Geldmengensteuerung | en |
dc.title | Money, credit and banking | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 509703992 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
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