Seasonal borrowing and open market operations
AbstractA 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.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Cleveland in its journal Economic Review.
Volume (Year): (1990)
Issue (Month): Q II ()
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- 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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