کد مقاله کد نشریه سال انتشار مقاله انگلیسی ترجمه فارسی نسخه تمام متن
5083119 1477796 2016 13 صفحه PDF سفارش دهید دانلود رایگان
عنوان انگلیسی مقاله ISI
Credit, banking, liquidity shortfall, and monetary policy
ترجمه فارسی عنوان
اعتبار، بانکداری، کمبود نقدینگی و سیاست پولی
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موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی


- This paper explores dynamic interactions among the choice of means of payment, bank's reserves, and liquidity shortfall.
- A bank can face a liquidity risk as its ex-ante reserves fall short of liquidity demand.
- In equilibrium, the likelihood of a liquidity risk increases with credit-transaction costs due to larger cash withdrawals.
- When the government increases money growth, both the demand for cash and the likelihood of a liquidity shortfall increase.

A simple monetary model is constructed to explore dynamic interactions among the choice of means of payment, bank's reserves, a liquidity shortfall, and monetary policy. In the presence of credit-transaction cost shocks, a bank that issues credit can face a liquidity shortfall as its ex-ante reserves fall short of liquidity demand. In equilibrium, credit payments and collections by a bank are balanced with each other and hence bank's ex-post reserve holdings crucially depend on the demand for cash. The likelihood of a liquidity shortfall increases with credit-transaction costs due to larger cash withdrawals. When the government increases money growth, both the demand for cash and the likelihood of a liquidity shortfall increase.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Review of Economics & Finance - Volume 46, November 2016, Pages 87-99
نویسندگان
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