A Framework for Monetary and Banking Analysis

30 Pages Posted: 9 Mar 2004 Last revised: 23 Jan 2022

See all articles by Stanley Fischer

Stanley Fischer

Bank of Israel; National Bureau of Economic Research (NBER); International Monetary Fund (IMF)

Date Written: July 1982

Abstract

The paper sets out and analyzes a simple model of money, banking, and price level determination. The model is first used to illustrate recent developments in the theory and analysis of banking, particularly the distinction between the portfolio management services provided by banks and their provision of transactions services. The assumptions are then extended to analyze price level determination in an economy that becomes an inside money economy as high-powered money goes out of use. The paper concludes by discussing the major unresolved questions about banking, money, and price level determination.

Suggested Citation

Fischer, Stanley, A Framework for Monetary and Banking Analysis (July 1982). NBER Working Paper No. w0936, Available at SSRN: https://ssrn.com/abstract=300719

Stanley Fischer (Contact Author)

Bank of Israel ( email )

P.O. Box 780
Jerusalem, 91907
Israel

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

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