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Legal Commentary

: Economics of Contempt

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"[O]ne dollar held by a particular bank at the beginning of the day changes hands around one hundred times during the course of the day."
From: Afonso & Shin, Systemic Risk and Liquidity in Payment Systems, New York Fed Staff Reports (March 2009).

Full post as published by Economics of Contempt on April 29, 2009 (boomark / email).

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