Article
Money and (Shadow) Banking: A Thought Experiment
Review of Banking & Financial Law
Document Type
Article
Publication Date
1-1-2012
Keywords
- shadow banking,
- monetary theory
Disciplines
Abstract
This paper approaches the shadow banking problem from a monetary point of view. It does so by means of a simple thought experiment. The aim is to strip away the inessentials so as to reveal some of the basic legal-institutional design considerations that attend the establishment and management of a monetary system. It is the author's experience that underlying assumptions in this area are surprisingly divergent and, at any rate, are seldom made explicit in the shadow banking literature. If this paper merely assists in surfacing some otherwise unstated assumptions, it will have served its purpose.
Citation Information
Morgan Ricks. "Money and (Shadow) Banking: A Thought Experiment" Review of Banking & Financial Law Vol. 31 (2012) p. 731 ISSN: 0739-2451 Available at: http://works.bepress.com/morgan-ricks/4/