WORKING PAPER NO. 08-5 CENTRAL BANK INSTITUTIONAL STRUCTURE AND EFFECTIVE CENTRAL BANKING: CROSS-COUNTRY EMPIRICAL EVIDENCE

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10.10.2023

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If these conditions were met, it is possible that the postal savings market would shrinkdrastically or even disappear. But it is also possible that a postal bank can play abeneficial role as an alternative to mandatory insurance for household deposits. This was,in fact, the reasoning that led postal savings to be accepted in the United States in 1910 –a time when the moral hazard problems involved in government insurance schemes werewidely recognized, and postal savings was regarded as a less dangerous alternative.However, neither of the requirements – full-cost pricing and neutral recycling – has beenconsistently met in the United States...
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WORKING PAPER NO. 08-5 CENTRAL BANK INSTITUTIONAL STRUCTURE AND EFFECTIVE CENTRAL BANKING: CROSS-COUNTRY EMPIRICAL EVIDENCE