Should we reduce the role of banks in the monetary policy process
探讨了传统观点认为银行通过存款创造货币影响价格水平，而一些经济学家主张减少银行在货币政策中的作用，认为取消准备金要求不会影响价格稳定。
The traditional view of banks in the monetary and price level control process is based on banks being producers of money in the form of deposits. Some economists have recently argued, however, that growth of bank deposits has no affect on price level stability. They say that the role of banks in the monetary policy process could be reduced with no adverse effect on price level stability, principally by removing reserve requirements.