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Federal Reserve Policy and the Structure of Interest Rates on Government Securities


  • Charls E. Walker


Introduction, 19. — I. The theory of interest rate structure, 19. — II. Origin and evolution of the rate structure, 27. — III. Effects of maintenance of the yield pattern, 27. — IV. Significance to credit policy of maintaining the yield structure, 36. — V. Conclusions for policy, 40. — VI. Interest rate structures and compensatory open market operations, 41.

Suggested Citation

  • Charls E. Walker, 1954. "Federal Reserve Policy and the Structure of Interest Rates on Government Securities," The Quarterly Journal of Economics, Oxford University Press, vol. 68(1), pages 19-42.
  • Handle: RePEc:oup:qjecon:v:68:y:1954:i:1:p:19-42.

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    Cited by:

    1. Owen F. Humpage & Sanchita Mukherjee, 2013. "Even keel and the Great Inflation," Working Paper 1315, Federal Reserve Bank of Cleveland.
    2. Garbade, Kenneth D., 2016. "The early years of the primary dealer system," Staff Reports 777, Federal Reserve Bank of New York.
    3. Shiller, Robert J. & Huston McCulloch, J., 1990. "The term structure of interest rates," Handbook of Monetary Economics,in: B. M. Friedman & F. H. Hahn (ed.), Handbook of Monetary Economics, edition 1, volume 1, chapter 13, pages 627-722 Elsevier.
    4. Garbade, Kenneth D., 2016. "Repurchase agreements as an instrument of monetary policy at the time of the Accord," Staff Reports 780, Federal Reserve Bank of New York.

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