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Alternative reserve concepts as operating targets in monetary policy implementation : specifications of the structural model

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  • Joseph M. Crews
  • Glenn C. Picou

Abstract

Monetary policy is concerned with the ultimate goals of price stability, full employment, and economic growth, and with the short-run stability of financial markets.

Suggested Citation

  • Joseph M. Crews & Glenn C. Picou, 1974. "Alternative reserve concepts as operating targets in monetary policy implementation : specifications of the structural model," Working Paper 74-04, Federal Reserve Bank of Richmond.
  • Handle: RePEc:fip:fedrwp:74-04
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    References listed on IDEAS

    as
    1. Frank De Leeuw & Edward M. Gramlich, 1969. "The channels of monetary policy," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Jun, pages 472-491.
    2. Edward M. Gramlich & John H. Kalchbrenner, 1970. "A constrained estimation approach to the demand for liquid assets," Special Studies Papers 3, Board of Governors of the Federal Reserve System (U.S.).
    3. William C. Brainard & James Tobin, 1968. "Pitfalls in Financial Model-Building," Cowles Foundation Discussion Papers 244, Cowles Foundation for Research in Economics, Yale University.
    4. Modigliani, Franco & Rasche, Robert & Cooper, J Philip, 1970. "Central Bank Policy, the Money Supply, and the Short-Term Rate of Interest," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 2(2), pages 166-218, May.
    5. Patric H. Hendershott, 1968. "Recent Development Of The Financial Sector Of Econometric Models," Journal of Finance, American Finance Association, vol. 23(1), pages 41-66, March.
    6. de Leeuw, Frank & Gramlich, Edward M, 1969. "The Channels of Monetary Policy: A Further Report on the Federal Reserve-M.I.T. Model," Journal of Finance, American Finance Association, vol. 24(2), pages 265-290, May.
    7. Pindyck, Robert S, 1973. "Optimal Policies for Economic Stabilization," Econometrica, Econometric Society, vol. 41(3), pages 529-560, May.
    8. Hendershott, Patric H & De Leeuw, Frank, 1970. "Free Reserves, Interest Rates, and Deposits: A Synthesis," Journal of Finance, American Finance Association, vol. 25(3), pages 599-513, June.
    Full references (including those not matched with items on IDEAS)

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