On the instability of banking and other financial intermediation

On the instability of banking and other financial intermediation

Report

On the instability of banking and other financial intermediation

BIS Working Papers | No 862 | 08 May 2020by Chao Gu, Cyril Monnet, Ed Nosal and Randall WrightPDF full text (658kb) | 51 pagesFocusAre banks, or financial intermediaries more generally, inherently unstable and prone to volatility? Historically, even some of the staunchest proponents of laissez-faire such as Milton Friedman have viewed banking as inherently unstable and hence requiring government…

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