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Banks

In: Research Handbook of Financial Markets

Author

Listed:
  • Refet S. Gürkaynak
  • Jonathan H. Wright
  • Egon Zakraj_ek

Abstract

Banking is a particular model of financial intermediation whereby one institution takes in liquid deposits and makes longer-term, generally illiquid, loans. This is a very specific and potentially unstable form of financial intermediation. Nonetheless, it is ubiquitous over time and across countries. This chapter reviews the reasons why banks exist and are so important, and what impact they have on the real economy. It concludes with a discussion of stablecoins and central bank digital currencies, which are closely related to banking.

Suggested Citation

  • Refet S. Gürkaynak & Jonathan H. Wright & Egon Zakraj_ek, 2023. "Banks," Chapters, in: Refet S. Gürkaynak & Jonathan H. Wright (ed.), Research Handbook of Financial Markets, chapter 6, pages 126-146, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:20173_6
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    Keywords

    Economics and Finance;

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