Interesting, although a bit dubious. The claim is that there are no microstructure models in banking, and in the paper he cites two econ 101 textbooks. I mean,

Interesting, although a bit dubious. The claim is that there are no microstructure models in banking, and in the paper he cites two econ 101 textbooks. I mean, I guess the introduction is technically correct in stating that these textbooks are not sufficient to develop a microfounded model of banking. But then, one might suggest the author to perhaps look a bit further than Mankiw's 101 book? After all, textbooks treating the subject in more detail than even the present paper do exist, even from heterodox sources, if the mainstream is unacceptable.