GUIDO K. SCHAEFER is Assistant Professor in the Economics Department at the Vienna University of Economics and Business Administration, Austria, a position he has held since 1995. He teaches money and banking in the Management Science and the Economics Programme. He has published articles in journals and edited volumes and is the author of Regulation and Stability in the Banking Systems: The Case of Deposit Insurance.

• Introduction The Problem of Trust in Monetary Theory Money, Trust, and Contemporary Banking Theory An Analytical Framework for an Integrated Formal Theory of Money, Trust, and Banking A Basic Model of Exchange Barter with Intermediate Exchange of Goods Privately Issued I.O.U.s as a Medium of Exchange Money as Central Bank Debt The Transactions Bank: On the Missing Link Between Monetary Theory and Banking Theory Efficient Transactions and Synergies in Banking An Integrated Perspective on Money, Trust, and Banking