813 research outputs found
Inflation-proof long-term bonds
Indexation (Economics) ; Bonds ; Great Britain
Real rates and recovery
Interest rates ; Business cycles ; Inflation (Finance) ; Money supply
Policies and prescriptions for safe and sound banking: shocks, lessons, and prospects
The author illustrates the extent to which ensuing regulatory changes conform to the prescriptions of Perspectives on Safe and Sound Banking. He probes whether relatively untested regulatory strictures, such as prompt corrective action, will prevail when banking is heavily stressed. He then discusses how "home-run regulation" extends the reach of individual states' bank charters nationwide and whether the Fed will eventually regulate financial institutions marketwide.Banks and banking ; Bank supervision
Excess Reserves in the Great Depression
This article assesses the extent to which government-administered financial shocks and lower interest rates can account for the massive accumulation of bank excess reserves in the Great Depression. Both factors are shown to be statistically significant. Financial shocks did exert astatistically detectable influence on the demand for excess reserves but those shocks at best can account for a step-like increase in the level of reserves held, an increase which was completed in less than a year. Financial shocks can explain no more than 1 percent of the variation in excess reserves during the Great Depression. We demonstrate that the most statistically appropriate form of the demand function is one which flattened rapidly as interest rates fell. The fall in interest rates can account for 80 percent of the movement of excess reserves during the Great Depression.
Liquidity constraints on consumption: the real effects of "real" lending policies
Consumption (Economics) ; Income ; Credit ; Liquidity (Economics)
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