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- Title
BANKS' DEMAND FOR EXCESS RESERVES.
- Authors
FROST, PETER A.
- Abstract
Given the institutional arrangements of the United States, the money supply is determined jointly by the actions of the monetary authorities, the commercial banks, and the public. The public's relative demand for currency, time deposits, and demand deposits, and the banks' demand for excess reserves and borrowings from the Federal Reserve banks can have--and at times have had--a significant effect on the money supply. Consequently, knowledge of these demand functions is a prerequisite for a complete understanding of the money-supply mechanism. The purpose of this dissertation is to try to increase our understanding of one of these demand functions: the banks' demand for excess reserves.
- Subjects
MONEY supply; BANK reserves; BANKING industry; FEDERAL Reserve banks; BANKS of issue; INTEREST rates
- Publication
Journal of Finance (Wiley-Blackwell), 1968, Vol 23, Issue 3, p538
- ISSN
0022-1082
- Publication type
Abstract
- DOI
10.2307/2325523