Title of article
Money,intermediation,andbanking$
Author/Authors
DavidAndolfatto، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2008
Pages
6
From page
289
To page
294
Abstract
The businessofmoneycreationisconceptuallydistinctfromthatofintermediation.Yet,
these twoactivitiesarefrequently—but notalways—combined togetherintheformofa
bankingsystem.Wedevelopasimplemodeltoexaminethequestion:Whenisbanking
essential?Thereisaroleformoneyduetoalackofrecord-keepingandarolefor
intermediation duetotheexistenceofprivateinformation:bothmoneyand
intermediation areessential.Whenmonitoringcostsassociatedwithintermediation
are sufficientlylow,thetwoactivitiescanbeseparatedfromoneanother.However,
when monitoringcostsaresufficientlyhigh,abankingsystemthatcombinesthesetwo
activities isessential
Keywords
MoneyIntermediationBanking
Journal title
Journal of Monetary Economics
Serial Year
2008
Journal title
Journal of Monetary Economics
Record number
846293
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