On the monetary policy in an economy with banks endogenously creating money.

This paper attempts to employ a microeconomic model (industrial‐organization approach to banking) to formalize the concept that banks in an economy may also unilaterally create money, at least initially, rather than passively multiplying the base money exogenously issued by the Central Bank in the m...

Full description

Bibliographic Details

Published in:	American Journal of Economics & Sociology Vol. 82; no. 2; pp. 121 - 128
Main Authors:	Wang, X. Henry, Yang, Bill, Young, Alex
Format:	Article
Published:	Wiley-Blackwell Mar2023
Subjects:	Monetary policy Central banking industry Banking policy Bank deposits Interest rates
Online Access:	View this record in EBSCOhost