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Is there any rationale for reserve requirements?

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  • E.J. Stevens
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    Abstract

    A search for a contemporary rationale for reserve requirements that finds little to recommend them other than an aversion to total reliance on the discount window for meeting banks' day-to-day liquidity needs.

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    File URL: http://www.clevelandfed.org/Research/Review/1991/91-q3-stevens.pdf
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    Bibliographic Info

    Article provided by Federal Reserve Bank of Cleveland in its journal Economic Review.

    Volume (Year): (1991)
    Issue (Month): Q III ()
    Pages: 2-17

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    Handle: RePEc:fip:fedcer:y:1991:i:qiii:p:2-17:n:v.27no.3

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    Related research

    Keywords: Bank reserves;

    References

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    1. Fama, Eugene F., 1980. "Banking in the theory of finance," Journal of Monetary Economics, Elsevier, vol. 6(1), pages 39-57, January.
    2. Smith, Bruce D, 1991. "Bank Panics, Suspensions, and Geography: Some Notes on the "Contagion of Fear" in Banking," Economic Inquiry, Western Economic Association International, vol. 29(2), pages 230-48, April.
    3. Robert J. Barro, 1982. "Measuring the Fed's Revenue from Money Creation," NBER Working Papers 0883, National Bureau of Economic Research, Inc.
    4. John C. Partlan & Kausar Hamdani & Kathleen M. Camilli, 1986. "Reserves forecasting for open market operations," Quarterly Review, Federal Reserve Bank of New York, issue Spr, pages 19-33.
    5. Sargent, Thomas & Wallace, Neil, 1985. "Interest on reserves," Journal of Monetary Economics, Elsevier, vol. 15(3), pages 279-290, May.
    6. Thomas Mayer, 1966. "Interest Payments On Required Reserve Balances," Journal of Finance, American Finance Association, vol. 21(1), pages 116-118, 03.
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