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An Empirical Study of Financial Intermediation in Canada

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  • Handa, Jagdish

Abstract

Considerable attention has been focused in the past two decades on the substitutability of the liabilities of private nonmonetary financial intermediaries for money, narrowly defined as the sum of currency and demand deposits adjusted. Discussion concerning this topic related to the United States, and most of the empirical work has been confined to that country. The essential folklore of that discussion crossed the border into Canada and is now even reflected in its textbooks on Canadian money and banking. However, very little empirical work has been done in Canada to examine this lore.

Suggested Citation

  • Handa, Jagdish, 1971. "An Empirical Study of Financial Intermediation in Canada," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 6(1), pages 583-600, January.
    • Handle: RePEc:cup:jfinqa:v:6:y:1971:i:01:p:583-600_02
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