دانلود مقاله ISI انگلیسی شماره 48310
عنوان فارسی مقاله

بانک با سپرده اسمی و پول داخلی

کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
48310 2008 23 صفحه PDF سفارش دهید محاسبه نشده
خرید مقاله
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عنوان انگلیسی
Banking with nominal deposits and inside money ☆
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Journal of Financial Intermediation, Volume 17, Issue 4, October 2008, Pages 562–584

کلمات کلیدی
پدیده گریز از بانک‌ها - پول داخلی - قرارداد اسمی - سپرده های تقاضا
پیش نمایش مقاله
پیش نمایش مقاله بانک با سپرده اسمی و پول داخلی

چکیده انگلیسی

Bank runs in the literature take the form of withdrawals of demand deposits payable in real goods, which deplete a fixed reserve of goods in the banking system. That framework describes traditional bank runs based on currency withdrawals as occurred historically in the US and more recently in developing countries. However, in a modern banking system, large withdrawals typically take the form of electronic payments of inside money, with no analog of a depletion of a scarce reserve from the banking system. In a new framework of nominal demand deposits repayable in inside money, pure liquidity-driven bank runs do not occur. If there were excessive early withdrawals, nominal deposits would hedge the bank and flexible monetary prices in the goods market would limit real consumption. The maturity mismatch of short term liabilities and long term assets is not sufficient for multiple equilibria bank runs without other frictions. A key role of the bank is to ensure optimal real liquidity, which allows markets to optimally distribute consumption goods through the price mechanism.

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