Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Save to My Library
Look up keyword
Like this
7Activity
0 of .
Results for:
No results containing your search query
P. 1
wp13-32

wp13-32

Ratings: (0)|Views: 9,583 |Likes:
Published by caitlynharvey
PDF
PDF

More info:

Published by: caitlynharvey on Aug 09, 2013
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

10/21/2013

pdf

text

original

 
 
WORKING PAPER NO. 13-32ON THE WELFARE PROPERTIES OF FRACTIONALRESERVE BANKING
 Daniel R. SanchesFederal Reserve Bank of PhiladelphiaAugust 2013
 
 On the Welfare Properties of Fractional Reserve Banking
Daniel R. SanchesFederal Reserve Bank of PhiladelphiaAugust 2013The author thanks Mitchell Berlin, Guido Menzio, and Will Roberds for excellent discussions.Correspondence to Sanches at Research Department, Federal Reserve Bank of Philadelphia, TenIndependence Mall, Philadelphia, PA 19106-1574; phone: (215) 574-4358; Fax: (215) 574-4303;e-mail:Daniel.Sanches@phil.frb.org.The views expressed in this paper are those of the authors and do not necessarily reflect those of the Federal Reserve Bank of Philadelphia or the Federal Reserve System. This paper is availablefree of charge at www.philadelphiafed.org/research-and-data/publications/working-papers/
 

                                                                                                              
 
         
   

You're Reading a Free Preview

Download
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->