Reserve requirements and control of a broad monetary aggregate |
| |
| Authors: | Richard T Froyen Kenneth J Kopecky |
| |
| Institution: | University of North Carolina, Chapel Hill, NC 27514, USA;Federal Reserve System, Washington, DC 20551, USA |
| |
| Abstract: | When at least one component of a broad monetary aggregate pays a market-determined interest rate, this paper shows that monetary control does not necessarily improve if all reserve ratios are set at feasible maximums and equalized across all components. |
| |
| Keywords: | |
| 本文献已被 ScienceDirect 等数据库收录！ |
|
