Central Banking Without Central Bank Money

Central Banking Without Central Bank Money
Given the rapidly declining demand for central bank reserves and their gradual replacement in wholesale payments by alternative forms of money-clearinghouse moneyand treasury money-this paper discusses whether the complete extinction of base money could undermine monetary control. It argues that such concerns are misplaced since central banks... READ MORE...

Publication date: July 1999
ISBN 9781451851571
$15.00

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