Karmelavičius, Jaunius; Ramanauskas, Tomas - In: Baltic journal of economics 19 (2019) 2, pp. 296-333
resources in the form of deposits. Therefore, bank credit needs to be modelled as a monetary phenomenon, which directly fuels … lend, the bank does not have to raise deposit rates or significantly increase borrowing from abroad as deposit dynamics … closely resembles that of credit, which allows us to analyse real and nominal consequences of bank credit (and money) creation. …
