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Discount window borrowing, monetary policy, and the post-October 6, 1979 federal reserve operating procedure

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  • Goodfriend, Marvin

Abstract

This paper is intended to be an analysis of discount window borrowing as it relates to more general issues of monetary control. The topic deserves a new look because of the central role of discount window borrowing under the post-October 6, 1979 "reserve targeting" operating strategy.

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File URL: http://www.sciencedirect.com/science/article/B6VBW-45KNKHV-9/2/81ed1b9cf5e35c6e86d191934030c102
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Bibliographic Info

Article provided by Elsevier in its journal Journal of Monetary Economics.

Volume (Year): 12 (1983)
Issue (Month): 3 (September)
Pages: 343-356

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Handle: RePEc:eee:moneco:v:12:y:1983:i:3:p:343-356

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Web page: http://www.elsevier.com/locate/inca/505566

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References

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  1. Lucas, Robert Jr, 1976. "Econometric policy evaluation: A critique," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 1(1), pages 19-46, January.
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Citations

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Cited by:
  1. Robert L. Hetzel, 1988. "The monetary responsibilities of a central bank," Economic Review, Federal Reserve Bank of Richmond, issue Sep, pages 19-31.
  2. Marvin Goodfriend, 1984. "The promises and pitfalls of contemporaneous reserve requirements for the implementation of monetary policy," Economic Review, Federal Reserve Bank of Richmond, issue May, pages 3-12.
  3. Goodfriend, M. & King, R.G., 1988. "Financial Deregulation, Monetary Policy, And Central Banking," RCER Working Papers 121, University of Rochester - Center for Economic Research (RCER).
  4. Sherrill Shaffer, 1995. "The discount window and credit availability," Working Papers 95-23, Federal Reserve Bank of Philadelphia.
  5. Timothy Cook, 1989. "Determinants of the federal funds rate: 1979-1982," Economic Review, Federal Reserve Bank of Richmond, issue Jan, pages 3-19.
  6. Malamud, Bernard & Assane, Djeto, 2002. "Federal reserve operating strategy: exploiting "pressure" on bank reserves," Journal of Policy Modeling, Elsevier, vol. 24(6), pages 527-532, October.
  7. Lakshmi Balasubramanyan & David D. VanHoose, 2012. "Bank balance sheet dynamics under a regulatory liquidity-coverage-ratio constraint," Working Paper 1209, Federal Reserve Bank of Cleveland.
  8. Dutkowsky, Donald H. & McCoskey, Suzanne K., 2001. "Near integration, bank reluctance, and discount window borrowing," Journal of Banking & Finance, Elsevier, vol. 25(6), pages 1013-1036, June.
  9. Etsuro Shioji, 1997. "Identifying monetary policy shocks in Japan," Economics Working Papers 216, Department of Economics and Business, Universitat Pompeu Fabra.
  10. Artuç, Erhan & Demiralp, Selva, 2010. "Discount window borrowing after 2003: The explicit reduction in implicit costs," Journal of Banking & Finance, Elsevier, vol. 34(4), pages 825-833, April.
  11. Clouse, James A. & Dow Jr., James P., 1999. "Fixed costs and the behavior of the federal funds rate," Journal of Banking & Finance, Elsevier, vol. 23(7), pages 1015-1029, July.
  12. Marvin Goodfriend, 1986. "A weekly rational expectations model of the nonborrowed reserve operating procedure," Economic Review, Federal Reserve Bank of Richmond, issue Jan, pages 11-28.
  13. Goodhart, Charles A. E. & O'Hara, Maureen, 1997. "High frequency data in financial markets: Issues and applications," Journal of Empirical Finance, Elsevier, vol. 4(2-3), pages 73-114, June.

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