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Rousseau, Peter L. - 2009

"In this essay I propose that the adoption of the U.S. dollar as a common currency shortly after the ratification of the Federal Constitution and the accompanying transition from a fiat to specie standard was a pivotal moment in the nation's early history and marked an improvement over the...

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Did doubling reserve requirements cause the recession of 1937-1938? : a microeconomic approach

Calomiris, Charles W.; Mason, Joseph R.; Wheelock, David C. - 2011

fundamental reserve demands of Fed member banks, we find that despite being doubled, reserve requirements were not binding on bank … fundamental reserve demands of Fed member banks, we find that despite being doubled, reserve requirements were not binding on bank …