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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.
More Banking: Intermediation or Money Creation
P. Tucker, Thinking about whether and why money matters is more important than debates about “views” on banking intermediation