New technology in computing has led some to suggest that the ability to settle transactions electronically will develop to such an extent that money will disappear from use. Two versions of this belief exist. One maintains that there will be 'e-money', issued conceivably by many organisations,...

In this paper a general equilibrium model of an economy with incomplete markets (GEI) with money and default is examined. The model is a simplified version of the real world consisting of a non-bank private sector, banks, a central bank, a government and a regulator. It is used to analyse...

The Basel Committee on Banking Supervision is proposing to introduce, in 2006, new risk-based requirements for internationally active (and other significant) banks. These will replace the relatively risk-invariant requirements in the current Accord. In this article the implications of this new...