On the Obsolescence of Commercial Banking
AbstractThis paper considers the obsolescence of commercial banking from the perspective of economic history. As a result of the enormous growth in money markets, it is now possible to operate a payments system in which liabilities payable on demand are backed by a diversified portfolio of liquid securities. Such a payments system, sometimes known as "mutual fund banking," is theoretically preferable to traditional commercial banking because it is not subject to the risk of runs or panics. The advantages of mutual fund banking are now being demostrated in the US marketplace, with the impressive growth of money market mutual funds with checking privileges.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoArticle provided by Mohr Siebeck, Tübingen in its journal Journal of Institutional and Theoretical Economics.
Volume (Year): 154 (1998)
Issue (Month): 1 (March)
Contact details of provider:
Web page: http://www.mohr.de/jite
Postal: Mohr Siebeck GmbH & Co. KG, P.O.Box 2040, 72010 Tübingen, Germany
Find related papers by JEL classification:
- G2 - Financial Economics - - Financial Institutions and Services
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Guenter Franke & Jan Pieter Krahnen, 2005.
"Default Risk Sharing Between Banks and Markets: The Contribution of Collateralized Debt Obligations,"
NBER Working Papers
11741, National Bureau of Economic Research, Inc.
- Gunter Franke & Jan Pieter Krahnen, 2007. "Default Risk Sharing between Banks and Markets: The Contribution of Collateralized Debt Obligations," NBER Chapters, in: The Risks of Financial Institutions, pages 603-634 National Bureau of Economic Research, Inc.
- Franke, Günter & Krahnen, Jan Pieter, 2005. "Default risk sharing between banks and markets: The contribution of collateralized debt obligations," CFS Working Paper Series 2005/06, Center for Financial Studies (CFS).
- Günter Franke & Jan Pieter Krahnen, 2005. "Default risk sharing between banks and markets: the contribution of collateralized debt obligations," CoFE Discussion Paper 05-04, Center of Finance and Econometrics, University of Konstanz.
- Malte Krueger, 2012.
"Money: A Market Microstructure Approach,"
Journal of Money, Credit and Banking,
Blackwell Publishing, vol. 44(6), pages 1245-1258, 09.
- Jan Pieter Krahnen, 2005.
"Der Handel von Kreditrisiken: Eine neue Dimension des Kapitalmarktes,"
Working Paper Series: Finance and Accounting
152, Department of Finance, Goethe University Frankfurt am Main.
- Jan Pieter Krahnen, 2005. "Der Handel von Kreditrisiken: Eine neue Dimension des Kapitalmarktes," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 6(4), pages 499-519, November.
- Krahnen, Jan Pieter, 2005. "Der Handel von Kreditrisiken: Eine neue Dimension des Kapitalmarktes," CFS Working Paper Series 2005/05, Center for Financial Studies (CFS).
- Jank, Stephan & Wedow, Michael, 2008.
"Sturm und Drang in money market funds: when money market funds cease to be narrow,"
Discussion Paper Series 2: Banking and Financial Studies
2008,20, Deutsche Bundesbank, Research Centre.
- Jank, Stephan & Wedow, Michael, 2010. "Sturm und Drang in money market funds: When money market funds cease to be narrow," CFR Working Papers 10-16, University of Cologne, Centre for Financial Research (CFR).
- Schmidt, Reinhard H. & Hackethal, Andreas & Tyrell, Marcel, 1999. "Disintermediation and the Role of Banks in Europe: An International Comparison," Journal of Financial Intermediation, Elsevier, vol. 8(1-2), pages 36-67, January.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Thomas Wolpert).
If references are entirely missing, you can add them using this form.