Models of Banking: Loanable Funds or Loans that Create Funds?
作者： Zoltan Jakab , Michael Kumhof
DOI: 10.2139/SSRN.2474759
关键词: Credit rationing 、 Business 、 Loanable funds 、 Credit channel 、 Dynamic stochastic general equilibrium 、 Financial accelerator 、 Endogenous money 、 Solvency 、 Profitability index 、 Financial system
摘要: In the loanable funds model of banking, banks accept deposits resources from savers and then lend them to borrowers. real world, provide financing, that is they create new money through lending, in doing so are mainly constrained by expectations profitability solvency. This paper presents contrasts simple financing models banking. Compared otherwise identical models, following shocks, predict changes bank lending far larger, happen much faster, have larger effects on economy.
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