Banking strategy and credit expansion: a post-Keynesian approach
阐明个体银行与银行业整体在信贷扩张中的关系，指出银行资产负债表结构不仅受其管理层扩张决策影响，还取决于其他银行的资产负债表状况，并通过分解货币乘数变量来展示这一关系。
This paper aims to clarify the relationship between individual banks and banking industry behaviour in credit expansion. The authors argue that the balance sheet structure of an individual bank is only partially determined by its management's decision about how aggressively to expand credit; it is also determined by the balance sheet positions of other banks. This relationship is shown explicitly by a simple disaggregation of the variables that enter into the economy-wide money multiplier. The approach taken here revives the multi-bank approach to banking analysis pioneered by Wallace and Karmel in the 1960s, which is particularly well-suited to integrating micro and macro levels in Keynesian banking analysis.