Gürkaynak, Refet S.; Wright, Jonathan H.; Zakrajšek, Egon - In: Research handbook of financial markets, (pp. 126-146). 2023
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...