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Seasonal borrowing and open market operations

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  • Edward J. Stevens

Abstract

A review of the Federal Reserve's seasonal borrowing program, including 1) an investigation of the original rationale for the program, 2) a determination of how changes in financial market structure during the intervening years may have affected that rationale, and 3) an exploration of how seasonal borrowing complicates monetary policy implementation.

Suggested Citation

  • Edward J. Stevens, 1990. "Seasonal borrowing and open market operations," Economic Review, Federal Reserve Bank of Cleveland, vol. 26(Q II), pages 29-40.
    • Handle: RePEc:fip:fedcer:y:1990:i:qii:p:29-40:n:v.26no.2
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    File URL: http://www.clevelandfed.org/Research/Review/1990/90-q2-stevens.pdf
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    References listed on IDEAS

    as
    1. Kane, Edward J, 1974. "All for the Best: The Federal Reseve Board's 60th Annual Report," American Economic Review, American Economic Association, vol. 64(6), pages 835-850, December.
    2. Daniel L. Thornton, 1988. "The borrowed-reserves operating procedures: theory and evidence," Review, Federal Reserve Bank of St. Louis, issue Jan, pages 30-54.
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