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Cited by 324

The DOI matches its Crossref record; 32 of the 32 references it cites were found in a registry or an index.

Money, credit and banking

Open access
Berentsen, Aleksander, Camera, Gabriele, Waller, Christopher·2007·Journal of Economic Theory
DOI 10.1016/j.jet.2006.03.016
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Abstract

We use a modified version of the Lagos-Wright model to introduce an essential role for banks. Due to preference shocks, agents have excess demand for or supply of money balances. Banks arise to reallocate excess cash by taking deposits from sellers and making loans to buyers. We consider two variations of the model: one in which buyers borrow to finance consumption and another in which they borrow to finance investment. We show that for any positive nominal interest rate, the existence of banks leads to a higher level of steady state output and welfare. We also derive conditions under which borrowers voluntarily repay loans. Finally, we examine how monetary injections into the banking system affect the economy. The effects are very similar to limited particiption models and gives rise to a liquidity effect on nominal interest rates

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Metadata

Authors
Berentsen, A., Camera, G., & Waller, C.
Venue
Journal of Economic Theory
Publisher
Elsevier BV
Published
2007-07
Volume
135
Issue
1
Pages
171-195
ISSN
0022-0531 (ISSN-L)
DOI
10.1016/j.jet.2006.03.016
OpenAlex
W1969807952
Cited by
324
References
32
FWCI
43.00
Type
journal article
Language
en
Open access
green

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CoChat. (2026). Citation check: Money, credit and banking. https://app.cochat.ai/papers/10.1016/j.jet.2006.03.016
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Berentsen, A., Camera, G., & Waller, C. (2007). Money, credit and banking. Journal of Economic Theory. https://doi.org/10.1016/j.jet.2006.03.016

Data sources

Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.