endogenously determined. Although the microeconomics of the bank behaviour is quite simple, credit and money as well as bonds …

endogenously determined. Although the microeconomics of the bank behaviour is quite simple, credit and money as well as bonds …

argument for an international central bank over national central bank. I also discussed Hayek's view on free banking (i.e. for … the free issue of bank notes) that would enable the banks to provide more and cheaper credit. Furthermore, Hayek comes up … right to issue bank notes (demand for free banking) which can be redeemable in the established national gold or silver …

) relationship between the standard deviation (coefficient of variation) and the average in bank lending-rate markups. In a …. Normatively, under a given inflation target, welfare gains arise if a central bank can use additional liquidity-provision (or tax …

The paper reports results that show a much weakened statistical relationship between total bank credit, total deposits … a result, the expansion of bank credit did not result in a commensurate increase of bank deposits because financial …

adopted by the Federal Reserve, the European Central Bank, and the Bank of England. Next, we discuss (current) theoretical …