Includes bibliographical references ([236]-243 p.) and index.

1. Introduction -- 2. Bank solvency and systemic stability -- 3. The rationale for demand deposits (and short-term funds) -- 4. Literature reviews, and the road ahead -- 5. Near-systemic bank runs, given a flexible more-reputed bank -- 6. Systemic bank runs, given a flexible central bank -- 7. Systemic bank runs under the gold standard -- 8. Implications of inelastic supply of desired assets -- 9. Bank runs, portfolio choice, and adjustment mechanism -- 10. Bank runs, liquidity, and consumption smoothing -- 11. Bank runs and the broad policy framework -- 12. Sudden capital outflow, emerging economics, and credit limit -- 13. One hundred per cent reserve banking, and the nature of inefficiency -- 14. More on banking crises and liquidity -- 15. Theory and experience -- 16. Conclusions.

Also available in print edition.

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