Kashyap, Anil K.; Rajan, Raghuram; Stein, Jeremy C. - In: Journal of Finance 57 (2002) 1, pp. 33-73
What ties together the traditional commercial banking activities of deposit-taking and lending? We argue that since banks often lend via commitments, their lending and deposit-taking may be two manifestations of one primitive function: the provision of liquidity on demand. There will be...