Overview

This book shows how money and banks emerge to efficiently address problems of trust between economic agents. The analysis offers an innovative approach for integrating monetary theory, banking theory, and standard economic theory in a game theoretical framework. The unified perspective of the book contributes to a better understanding of the microeconomic foundations of monetary policy and banking. It emphasizes the importance of trust supported by credible institutional structures in the financial industry.

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9781349547814

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Author Information

GUIDO K. SCHAEFER is Assistant Professor in the Economics Department at the Vienna University of Economics and Business Administration, Austria, a position he has held since 1995. He teaches money and banking in the Management Science and the Economics Programme. He has published articles in journals and edited volumes and is the author of Regulation and Stability in the Banking Systems: The Case of Deposit Insurance.

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