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We develop a model of the market for federal funds that explicitly accounts for its two distinctive features: banks have to search for a suitable counterparty, and once they have met, both parties negotiate the size of the loan and the repayment. The theory is used to answer a number of positive...
Persistent link: https://www.econbiz.de/10010551300
While many analyses of monetary policy consider only a target for a short-term nominal interest rate, other dimensions of policy have recently been of greater importance: changes in the supply of bank reserves, changes in the assets acquired by central banks, and changes in the interest rate...
Persistent link: https://www.econbiz.de/10008598715
Introductory Remarks for the Panel Discussion Sponsored by the Heller-Hurwicz Economics Institute and the Economic Club of Minnesota at the University of Minnesota, Minneapolis.
Persistent link: https://www.econbiz.de/10010724935
Remarks at the Transatlantic Economic Interdependence and Policy Challenges Conference, Federal Reserve Bank of New York, New York City.
Persistent link: https://www.econbiz.de/10010724936
Remarks at the ACI 2010 World Congress, Sydney, Australia.
Persistent link: https://www.econbiz.de/10010724944
Remarks at the Global Association of Risk Professionals 12th Annual Risk Management Convention, New York City.
Persistent link: https://www.econbiz.de/10010724946
Remarks at the Future of Banking Regulation and Supervision in the EU Conference, Frankfurt, Germany.
Persistent link: https://www.econbiz.de/10010724953
Remarks at the New York Association for Business Economics, New York City.
Persistent link: https://www.econbiz.de/10010724959
Remarks at the Third Annual Connecticut Bank and Trust Company Economic Outlook Breakfast, Hartford, Connecticut.
Persistent link: https://www.econbiz.de/10010724969
Remarks at the Andrew Crockett Memorial Lecture, Bank for International Settlements 2013 Annual General Meeting, Basel, Switzerland.
Persistent link: https://www.econbiz.de/10010724978