MODERN MONETARY CIRCUIT THEORY, STABILITY OF INTERCONNECTED BANKING NETWORK, AND BALANCE SHEET OPTIMIZATION FOR INDIVIDUAL BANKS

A modern version of monetary circuit theory with a particular emphasis on stochastic underpinning mechanisms is developed. It is explained how money is created by the banking system as a whole and by individual banks. The role of central banks as system stabilizers and liquidity providers is elucida...

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Veröffentlicht in:	International journal of theoretical and applied finance 2016-09, Vol.19 (6), p.1650034
1. Verfasser:	LIPTON, ALEXANDER
Format:	Artikel
Sprache:	eng
Online-Zugang:	Volltext
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