Now showing items 1-2 of 2
Making Money: Commercial Banks, Liquidity Transformation and the Payment System
(2017-12)
We consider the interaction between the roles of a bank as a facilitator of payments in the economy and as a lender. In our model, banks make loans by issuing digital claims to an entrepreneur, who then uses them to pay ...
Board to Death: How Busy Directors Could Cause the Next Financial Crisis
(2017-07)
This article argues that the directors of the United States’ largest financial institutions are too busy to execute their governance roles effectively. Most financial institution directors serve on the board of at least ...