On The Social Value Of Banks
I compare the utility of individuals in an economywith and without banks. To make the comparisoninteresting, the economy without banks has cashin-advance money that the individuals use forconsumption and for precautionary (emergency)purposes and that firms use to pay their wage bill. Inthe economy with banks, the precautionary funds aredeposited in banks, which lend this money to firmsfor working capital. In these economies output isgenerally higher, people have higher utility and livelonger. Also, the price level is usually higher.
Volume (Year): 28 (2010)
Issue (Month): 61 (August)
|Contact details of provider:|| |
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ronnie Phillips, 1992. "The 'Chicago Plan' and New Deal Banking Reform," Economics Working Paper Archive wp_76, Levy Economics Institute.
When requesting a correction, please mention this item's handle: RePEc:col:000107:008321. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Espe)
If references are entirely missing, you can add them using this form.