Journal Article

A comparison of monetary policy operating procedures in six industrial countries

Abstract: The institutional environments in which central banks operate have become more alike over the past decade. The author examines the monetary policy operating procedures of the Federal Reserve and central banks in Japan, Germany, the United Kingdom, Canada, and Switzerland. In particular, he compares how monetary authorities in different countries have adapted their reserve management techniques to lower reserve requirements.

Keywords: Monetary policy; Banks and banking, Central; Monetary policy - United States; Bank reserves;

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Bibliographic Information

Provider: Federal Reserve Bank of New York

Part of Series: Quarterly Review

Publication Date: 1992

Volume: 17

Issue: Sum

Pages: 5-24