not fiat money but bank liability; fiat money is largely used by banks to meet liquidity demand; and banks extensively use … government bonds for liquidity management. It finds that monetary policy produces real effects by changing the tightness of banks …' liquidity constraint; its effect for liquidity unconstrained banks is the opposite of that for the maximally constrained …

Numerous bank productivity studies indicate rapid changes in the structure of the financial services industry and … evaluation of banks, i.e., the measurement of the productivity and research results of previous authors’ studies of the European … total factor productivity index or SFA method, are increasingly being used to evaluate the productivity of banks and other …

Prior to the financial crisis mainstream monetary policy practice had become disconnected from money. We outline the … basic rationale for this development using a simple model of money and credit in which we explore the conditions under which … money matters directly for the conduct of policy. Then, drawing on Goodfriend and McCallum's (2007) DSGE model, we examine …

around quantum computing and quantum money. We proceed in three steps. First, we discuss basic concepts in quantum computing …-cloning theorem. Second, we provide an overview of quantum money, an early invention of the quantum communication literature that has … recently been partially implemented in an experimental setting. One form of quantum money offers the privacy and anonymity of …

Money provides liquidity services through a cash-in-advance constraint. The exchange of commodities and assets extends …

with the help of a bank money creation model in which central bank reserves have to be acquired to settle interbank … unique collateral leverage channel, which cannot be replicated by standard capital requirements. Through this channel, banks …

We provide new evidence on the bank lending channel of monetary policy using bank-level data of 440 banks from eleven … CEE transition economies between 1998 and 2012. Our findings are: i) banks adjust their loans to changes in host country …’s monetary policy, ii) foreign-owned banks are less responsive to monetary policy of a host country than domestic-owned banks in …