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environment, I show that higher inflation induces some buyers to spend their money faster by frontloading their consumption …I study the effects of inflation on the purchasing behavior of buyers in an economy where money is essential for … increases, agents try to spend their money holdings speedily. The standard framework fails to capture this kind of effect (see …
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The Shadow Open Market Committee was formed in 1973 in response to rising inflation and the apparent unwillingness of U.S. policymakers to implement policies necessary to maintain price stability. This paper describes how the Committee's policy views differed from those of most Federal Reserve...
Persistent link: https://www.econbiz.de/10005352943
Bank reserves in the United States increased dramatically at the end of 2008. Subsequent asset purchase programs in 2009 and 2011 more than doubled the quantity of reserves outstanding. These events required major adjustments in banks' balance sheets. We study the evolution of reserve holdings...
Persistent link: https://www.econbiz.de/10010593680