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A simple general equilibrium model of large excess reserves

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  • Huberto Ennis

    (Federal Reserve Bank of Richmond)

Abstract

This result suggest that there is a limit to the reserves-financed purchases of securities by the Fed if the intention is not to induce increases in the price level. After some point, if excess reserves become large enough, more reserves are associated with higher price levels.

Suggested Citation

  • Huberto Ennis, 2014. "A simple general equilibrium model of large excess reserves," 2014 Meeting Papers 1357, Society for Economic Dynamics.
    • Handle: RePEc:red:sed014:1357
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    More about this item

    JEL classification:

    • E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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