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Teaching the Linkage Between Banks and the Fed: R.I.P. Money Multiplier

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Abstract

The money multiplier has been a standard concept in introductory economics classes for decades, but changes in the way the Fed implements monetary policy has made the model obsolete. This issue provides information about the linkages between the Fed and the banking system and provides teaching suggestions.

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  • Jane E. Ihrig & Gretchen C. Weinbach & Scott A. Wolla, 2021. "Teaching the Linkage Between Banks and the Fed: R.I.P. Money Multiplier," Page One Economics Newsletter, Federal Reserve Bank of St. Louis, September.
    • Handle: RePEc:fip:fedlpo:93181
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    Cited by:

    1. Dirk Ehnst, 2022. "Modern Monetary Theory: The Right Compass for Decision-Making," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 57(2), pages 128-134, March.
    2. Bofinger, Peter & Geißendörfer, Lisa & Haas, Thomas & Mayer, Fabian, 2021. "Discovering the True Schumpeter - New Insights into the Finance and Growth Nexus," CEPR Discussion Papers 16851, C.E.P.R. Discussion Papers.

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