Excess reserves and the new challenges for monetary policy
AbstractInterest on reserves allows the Federal Reserve to pursue an appropriate monetary policy even with a high level of excess reserves. However, a banking system flush with excess reserves can raise the risk of monetary policy getting behind the curve.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Richmond in its journal Richmond Fed Economic Brief.
Volume (Year): (2010)
Issue (Month): Mar ()
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- Gara Afonso & Ricardo Lagos, 2012.
"Trade dynamics in the market for federal funds,"
549, Federal Reserve Bank of New York.
- Huberto M. Ennis & Alexander L. Wolman, 2012. "Large excess reserves in the U.S.: a view from the cross-section of banks," Working Paper 12-05, Federal Reserve Bank of Richmond.
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