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Defining the monetary base in a deregulated financial system

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  • E.J. Stevens
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    Abstract

    An 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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    File URL: http://www.clevelandfed.org/Research/Workpaper/1995/wp9514.pdf
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    Bibliographic Info

    Paper provided by Federal Reserve Bank of Cleveland in its series Working Paper with number 9514.

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    Date of creation: 1995
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    Handle: RePEc:fip:fedcwp:9514

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    Related research

    Keywords: Money supply ; Bank reserves;

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    1. E.J. Stevens, 1993. "Required clearing balances," Economic Review, Federal Reserve Bank of Cleveland, Federal Reserve Bank of Cleveland, issue Q IV, pages 2-14.
    2. 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.
    3. 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, Federal Reserve Bank of St. Louis, issue Nov, pages 19-35.
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