English, Article, Journal or magazine article edition: A weekly perfect foresight model of the nonborrowed reserve operating procedure Marvin Goodfriend; Gary Anderson; Anil Kashyap; ...

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Bookmark: http://trove.nla.gov.au/version/74457
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • A weekly perfect foresight model of the nonborrowed reserve operating procedure
Author
  • Marvin Goodfriend
  • Gary Anderson
  • Anil Kashyap
  • George Moore
  • Richard D. Porter
Physical Description
  • preprint
Notes
  • Of the many studies analyzing the Federal Reserve's post-October 6, 1979 nonborrowed reserve (NBR) operating procedure, none has focused upon weekly money market dynamics under rational expectations. This paper employs the rational expectations assumption in an explicit institutional model of the NBR procedure. The paper is positive rather than normative, isolating the policy elements that comprise the procedure and investigating their dynamic interaction.
  • Monetary policy - United States ; Bank reserves
  • RePEc:fip:fedrwp:84-04
Language
  • English
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