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 … nominal prices, savers and borrowers and a banking sector. Following an exogenously induced shock to banker's willingness to … closely resembles that of credit, which allows us to analyse real and nominal consequences of bank credit (and money) creation. …
