Adair Turner and Paul Tucker
As the coronavirus pandemic spreads, two economics heavyweights debate the proposition. Replies will be updated in real time.
Category: Paul Tucker
Banking: Intermediation or Money Creation
P. Tucker, Thinking about whether and why money matters is more important than debates about “views” on banking intermediation
March 5, 2020
Sir Paul Tucker, Harvard Kennedy School
It has been orthodoxy for as long as I can remember that bank deposits are created by bank lending.
Winter 2020
Banking: Intermediation or Money Creation
Contributors: Morgan Ricks, Marc Lavoie, Robert Hockett, Saule Omarova, Michael Kumhof, Zoltan Jakab, Paul Tucker, Charles Kahn, Daniel Tarullo, Stephen Marglin, Howell Jackson and Christine Desan, Sannoy Das