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References
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Kumhof
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Banks Are Not Intermediaries of Loanable Funds—and Why This Matters . Bank of England Working Paper no. 529. London: Bank of England . Accessed at: https://www.bankofengland.co.uk/-/media/boe/files/working-paper/2015/banks-are-not-intermediaries-of-loanable-funds-and-why-this-matters.pdf.