Abstract
A key characteristic of bank deposits is that they carry a guarantee of convertibility at sight, or after due notice, into cash. In order to maintain such convertibility, a bank needs to hold reserves of cash. Historically such cash mostly took the form of metallic coin, that is, gold …
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CITATION STYLE
APA
Goodhart, C. (1989). Monetary Base. In Money (pp. 206–211). Palgrave Macmillan UK. https://doi.org/10.1007/978-1-349-19804-7_24
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