The DOI matches its Crossref record; 5 of the 5 references it cites were found in a registry or an index.
Banks as Liquidity Providers: An Explanation for the Coexistence of Lending and Deposit‐taking
Abstract
What ties together the traditional commercial banking activities of deposit‐taking and lending? We argue that since banks often lend via commitments, their lending and deposit‐taking may be two manifestations of one primitive function: the provision of liquidity on demand. There will be synergies between the two activities to the extent that both require banks to hold large balances of liquid assets: If deposit withdrawals and commitment takedowns are imperfectly correlated, the two activities can share the costs of the liquid‐asset stockpile. We develop this idea with a simple model, and use a variety of data to test the model empirically.
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Cites
Corporate financing and investment decisions when firms have information that investors do not have
Myers, S. C., & Majluf, N. S. (1984) · Journal of Financial Economics · doi:10.1016/0304-405x(84)90023-0 · Cited by 18,957
Financial intermediation and delegated monitoring
Diamond, D. W. (1984) · The Review of Economic Studies · doi:10.2307/2297430 · Cited by 8,476
MYERS, S. C. (1984) · The Journal of Finance · doi:10.1111/j.1540-6261.1984.tb03646.x · Cited by 7,526
Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have
Myers, S., & Majluf, N. (1984) · doi:10.3386/w1396 · Cited by 6,745
Credit, Money, and Aggregate Demand
Bernanke, B., & Blinder, A. (1988) · doi:10.3386/w2534 · Cited by 1,436
Cited by
Chapter 12 Finance and Growth: Theory and Evidence
Levine, R. (2005) · Handbook of Economic Growth · doi:10.1016/s1574-0684(05)01012-9 · Cited by 2,889
Bank lending during the financial crisis of 2008
Ivashina, V., & Scharfstein, D. (2010) · Journal of Financial Economics · doi:10.1016/j.jfineco.2009.12.001 · Cited by 2,766
The seeds of a crisis: A theory of bank liquidity and risk taking over the business cycle
Acharya, V., & Naqvi, H. (2012) · Journal of Financial Economics · doi:10.1016/j.jfineco.2012.05.014 · Cited by 650
Banking and interest rates in monetary policy analysis: A quantitative exploration
Goodfriend, M., & McCallum, B. T. (2007) · Journal of Monetary Economics · doi:10.1016/j.jmoneco.2007.06.009 · Cited by 462
Safer ratios, riskier portfolios: Banks׳ response to government aid
Duchin, R., & Sosyura, D. (2014) · Journal of Financial Economics · doi:10.1016/j.jfineco.2014.03.005 · Cited by 459
Metadata
- Authors
- Kashyap, A. K., Rajan, R., & Stein, J. C.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2002-02
- Volume
- 57
- Issue
- 1
- Pages
- 33-73
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W3021731726
- Cited by
- 1,442
- References
- 5
- FWCI
- 39.34
- Type
- journal article
- Language
- en
- Open access
- closed
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- Kashyap, A. K., Rajan, R., & Stein, J. C. (2002). Banks as Liquidity Providers: An Explanation for the Coexistence of Lending and Deposit‐taking. The Journal of Finance. https://doi.org/10.1111/1540-6261.00415
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