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- W2276157085 abstract "I use the Baumol-Tobin approach to examine the following propositions: (a) The optimal supply of liquidity requires a government loan program in addition to paying interest on reserves held by banks, (b) The adoption of the optimal policy will crowd out private credit arrangement and will thus shrink the financial sector and (c) regulations aimed at eliminating money substitutes may be redundant if the optimal policy is adopted but otherwise may improve welfare." @default.
- W2276157085 created "2016-06-24" @default.
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- W2276157085 date "2014-01-10" @default.
- W2276157085 modified "2023-09-27" @default.
- W2276157085 title "The optimal supply of liquidity and the regulations of money substitutes: a Baumol-Tobin approach" @default.
- W2276157085 hasPublicationYear "2014" @default.
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