In the context of wide regional disparities emerging in the process of development, the banks have an additional responsibility in India. That responsibility is to enter the under developed regions and to mobilize and channelize resources into local economic activities such that local...

The theory of endogenous money is the cornerstone of Post-Keynesian economics, which dates back to the pioneering writings of authors such as J. Robinson, Kaldor and Kalecki. Second generation Post-Keynesians such as Paul Davidson and Basil Moore have clearly drawn the boundaries of...

“Has anyone bothered to study the cumulative effect of all these things?” the chief executive officer of JPMorgan Chase reasonably inquired of the chairman of the Federal Reserve Board at a bankers gathering in Atlanta last June. The CEO, Jamie Dimon, was referring to the combination of...

This is the fifth in a series of seven papers on interest rates and it covers the monetary policy models, a bank liquidity analysis, the concept of quantitative easing in terms of a bank liquidity analysis, and how a QE policy affects interest rates. The seven papers cover: (1) what are interest...

This paper offers a basic overview of the practical aspects of money creation. A brief presentation of the history of money and a critical summary of the commonly accepted theories highlight the current understanding of the emergence and operating characteristics of money in the modern economy....

On 16th November 2009, SUERF, CEPS and the Belgian Financial Forum coorganized a conference "Crisis management at cross-roads" in Brussels. All papers in the present volume are based on contributions at the conference and the SUERF Annual Lecture which followed the event.

At present, Western European banks are increasingly branching out into asset management as well as the consulting business, which cannot be influenced directly by monetary controls. We have therefore conducted a factor analysis of banks' balance-sheet items, and we have also plotted figures from...

The global economic crisis began in 2008 has had major negative effects the economies of all countries in the world. Turkey is also one of the very seriously affected countries by the crisis. However, effects of the global crisis on Turkish Banking Sector remained relatively limited compared to...

Deposit outflows and a decrease of interbank funding have been compensated by increased borrowing of Greek banks to the Eurosystem. Due to collateral eligibility constraints, most of this funding shifted to ELA. The ECB could raise the haircut rates on the collateral pledged by Greek banks to...