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An implicit rationale for a bank reserve requirement is that a central monetary authority is in a unique position (as quot;social planner) to impose a quot;socially superiorquot; outcome to that yielded by a free banking system. We illustrate how this can be true in the context of a simple...
Persistent link: https://www.econbiz.de/10012788064
An implicit rationale for a bank reserve requirement is that a central monetary authority is in a unique position (as "social planner) to impose a "socially superior" outcome to that yielded by a free banking system. We illustrate how this can be true in the context of a simple economy modeled...
Persistent link: https://www.econbiz.de/10012475343
Persistent link: https://www.econbiz.de/10013452192