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one hundred per cent reserve banking (G2)<br />A form of banking which maintains a bank's total volume of deposits (liabilities) equal to reserve assets. Under this system, a bank is unable to make advances through credit creation. Although such banking can resist RUNS oN A BANK, it makes little profit through not holding illiquid bills, bonds and loans.<br /><em>See also:</em> Fisher; fractional reserve banking
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Cassel, Karl Gustav, 1866-1945 (B3) After studying mathematics at Uppsala University, Sweden, he became a professor of economics at Stockholm University in 1902. He was a founder of modern Swedish economics, especially noted for Theory of Social Economy (originally published in 1918) and monetary writings. He rejected both labour and MARGINAL UTILITY theories of value in favour of a price theory which he also applied to his study of the RATE OF INTEREST. He relied on the QUANTITY THEORY oF MONEY in his monetary economics and was anti-Keynesian. His pupils included OHLIN and MYRDAL.<br /><em>Reference</em><br />Mitchell, W.C. (1969) Types of Economic Theory, Vol. 2, ch. 16, New York: Augustus M. Kelley.
<strong>Payment period</strong> – The basis on which a school must schedule and deliver disbursements for a particular loan period. A payment period is determined by the structure of the school' s academic program.
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