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Is there any rationale for reserve requirements?

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  • E.J. Stevens

Abstract

A search for a contemporary rationale for reserve requirements that finds little to recommend them other than an aversion to total reliance on the discount window for meeting banks' day-to-day liquidity needs.

Suggested Citation

  • E.J. Stevens, 1991. "Is there any rationale for reserve requirements?," Economic Review, Federal Reserve Bank of Cleveland, issue Q III, pages 2-17.
  • Handle: RePEc:fip:fedcer:y:1991:i:qiii:p:2-17:n:v.27no.3
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    File URL: http://www.clevelandfed.org/Research/Review/1991/91-q3-stevens.pdf
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    References listed on IDEAS

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    1. Sargent, Thomas & Wallace, Neil, 1985. "Interest on reserves," Journal of Monetary Economics, Elsevier, vol. 15(3), pages 279-290, May.
    2. Fama, Eugene F., 1980. "Banking in the theory of finance," Journal of Monetary Economics, Elsevier, vol. 6(1), pages 39-57, January.
    3. Smith, Bruce D, 1991. "Bank Panics, Suspensions, and Geography: Some Notes on the "Contagion of Fear" in Banking," Economic Inquiry, Western Economic Association International, vol. 29(2), pages 230-248, April.
    4. John C. Partlan & Kausar Hamdani & Kathleen M. Camilli, 1986. "Reserves forecasting for open market operations," Quarterly Review, Federal Reserve Bank of New York, issue Spr, pages 19-33.
    5. Barro, Robert J., 1982. "Measuring the Fed's revenue from money creation," Economics Letters, Elsevier, vol. 10(3-4), pages 327-332.
    6. Thomas Mayer, 1966. "Interest Payments On Required Reserve Balances," Journal of Finance, American Finance Association, vol. 21(1), pages 116-118, March.
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    Cited by:

    1. Bindseil, Ulrich, 1997. "Die Stabilisierungswirkungen von Mindestreserven," Discussion Paper Series 1: Economic Studies 1997,01, Deutsche Bundesbank.

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