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An Empirical Study of Financial Intermediation in Canada

Published online by Cambridge University Press:  19 October 2009

Jagdish Handa
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Extract

Considerable attention has been focused in the past two decades on the substitutability of the liabilities of private nonmonetary financial intermediaries for money, narrowly defined as the sum of currency and demand deposits adjusted. Discussion concerning this topic related to the United States, and most of the empirical work has been confined to that country. The essential folklore of that discussion crossed the border into Canada and is now even reflected in its textbooks on Canadian money and banking. However, very little empirical work has been done in Canada to examine this lore.

Type
Research Article
Information
Journal of Financial and Quantitative Analysis , Volume 6 , Issue 1 , January 1971 , pp. 583 - 600
Copyright
Copyright © School of Business Administration, University of Washington 1971

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