An Adverse Selection Model of Bank Asset and Liability Management with Implications for the Transmission of Monetary Policy
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This paper develops a model of bank asset and liability management, based on the idea that information problems make it difficult for banks to raise funds with instruments other than insured deposits. The model can be used to address the question of how monetary policy works. One effect it captures
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美国国家经济研究局创建时间：
1995-08-01
