Defining the monetary base in a deregulated financial system
AbstractAn examination of how the diminishing role of reserve requirements has made the monetary base a less useful measure of monetary policy than in previous years.
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Bibliographic InfoPaper provided by Federal Reserve Bank of Cleveland in its series Working Paper with number 9514.
Date of creation: 1995
Date of revision:
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- George A. Selgin & Lawrence H. White, 1994.
"How Would the Invisible Hand Handle Money?,"
Journal of Economic Literature,
American Economic Association, vol. 32(4), pages 1718-1749, December.
- Michelle R. Garfinkel & Daniel L. Thornton, 1991. "Alternative measures of the monetary base: what are the differences and are they important?," Review, Federal Reserve Bank of St. Louis, issue Nov, pages 19-35.
- E.J. Stevens, 1993. "Required clearing balances," Economic Review, Federal Reserve Bank of Cleveland, issue Q IV, pages 2-14.
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