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Excess reserves and the new challenges for monetary policy

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Author Info

  • Huberto M. Ennis
  • Alexander L. Wolman

Abstract

Interest 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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File URL: http://www.richmondfed.org/publications/research/economic_brief/2010/pdf/eb_10-03.pdf
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Bibliographic Info

Article provided by Federal Reserve Bank of Richmond in its journal Richmond Fed Economic Brief.

Volume (Year): (2010)
Issue (Month): Mar ()
Pages:

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Handle: RePEc:fip:fedreb:y:2010:i:mar:n:10-03

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Related research

Keywords: Inflation (Finance) ; Monetary policy;

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Cited by:
  1. Ricardo Lagos & Gara Afonso, 2010. "Trade Dynamics in the Market for Federal Funds," 2010 Meeting Papers 424, Society for Economic Dynamics.
  2. 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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