Traditional monetary theory has largely ignored the role ofbank equity. Bank-centered accounts of how monetarypolicy … deposits and, in the case of the bank lendingchannel, bank loans. As Friedman (1991) observed,“Traditionally, most economists … Research on this andother episodes has found that low bank capital is associatedwith sluggish lending. …

, centralbanks have made extensive use of both new and existing toolsfor supplying central bank money to financial institutions …

),1 which leads to “fire-sale”–related pecuniaryexternalities; and bank interconnectedness (Allen and Gale2000; Kahn and Santos …

[...]This article demonstrates that the Bank Holiday that beganon March 6, 1933, marked the end of an old regime, and … significant 15.34 percent onMarch 15, 1933 (taking into account the two-week trading haltduring the Bank Holiday), and by the end …

the actions of the central bank and the real economy.That is, the monetary transmission mechanism of thecountries in the … euro area will change, making the job ofthe new European Central Bank even more difficult thanit is already. But how …

Canada is jointly determined and announcedby both the government and the central bank.[...] …