A theory of the banking firm.
“The purpose of this paper is to overcome these omissions from earlier theories by developing a theoretical model that assumes marginal cost is indeed a function of the asset mix and establishing equilibrium in both the asset and liability markets. The framework for the analysis will be to briefly describe, and criticize the three earlier theories and then to present the more inclusive model of this paper.” (p.22)
Omicron Delta Epsilon, Honor Society in Economics
Fellows, J. A. (1978). A theory of the banking firm. American Economist, 22(1), 22-25.
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