6. 1 The Nature of Financial Intermediation 6. 2 Depository Financial Institutions The deposit liabilities of these institutions form the cornerstones of the money supply. Generally speaking, commercial banks are the largest depository institutions
5. 1 The Government Bond Market 5.1.1 when the government runs a deficit, it has to get the funds. There are three ways for the government to get funds
1 An Excursion into Non-linearity land Motivation: the linear structural (and time series) models cannot explain a number of important features common to much financial data