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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- Ricardo Lagos & Gara Afonso, 2010.
"Trade Dynamics in the Market for Federal Funds,"
2010 Meeting Papers
424, Society for Economic Dynamics.
- 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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