Theorising non-bank financial intermediation
(2024)
Journal Article
Michell, J. (2024). Theorising non-bank financial intermediation. Review of Keynesian Economics, 12(2), 181–196. https://doi.org/10.4337/roke.2024.02.04
The expansion of non-bank financial intermediation (NBFI) presents a challenge for monetary theories which emphasise the macroeconomic significance of commercial bank lending. The heterodox literature which has emerged since the 2008 crisis falls rou... Read More about Theorising non-bank financial intermediation.