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What's the use of banks, especially after the crisis?

Author

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  • Virginie Monvoisin

    (Grenoble Ecole de Management)

Abstract

Since the outbreak of the crisis, banks appear at best useless and at worst harmful. The recent standard theory indeed constructed an analysis showing that banks had nothing specific to offer. However, the theory of endogenous money provides a consistent monetary theory and gives to the bank a particular place, eventually central. This analysis thus makes it possible not only to define the role and functions of banks but also to capture the recent developments in the banking system and the malfunctions they generate.

Suggested Citation

  • Virginie Monvoisin, 2013. "What's the use of banks, especially after the crisis?," Review of Keynesian Economics, Edward Elgar Publishing, vol. 1(2), pages 195-209, January.
    • Handle: RePEc:elg:rokejn:v:1:y:2013:i:2:p195-209
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    Cited by:

    1. Ansart, Sandrine & Monvoisin, Virginie, 2017. "The new monetary and financial initiatives: Finance regaining its position as servant of the economy," Research in International Business and Finance, Elsevier, vol. 39(PB), pages 750-760.

    More about this item

    Keywords

    banker; money; financing; risks; support of production; endogeneity;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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