Search Results

Showing results 1 to 2 of approximately 2.

(refine search)
SORT BY: PREVIOUS / NEXT
Author:Jendoubi, Haitham 

Discussion Paper
How Bank Reserves Are Distributed Matters. How You Measure Their Distribution Matters Too.

Changes in the distribution of banks’ reserve balances are important since they may impact conditions in the federal funds market and alter trading dynamics in money markets more generally. In this post, we propose using the Lorenz curve and Gini coefficient as a new approach to measuring reserve concentration. Since 2013, concentration, as captured by the Lorenz curve and the Gini coefficient, has co-moved with aggregate reserves, decreasing as aggregate reserves declined (such as in 2015-18) and increasing as aggregate reserves increased (such as at the onset of the COVID-19 pandemic).
Liberty Street Economics , Paper 20201124

Discussion Paper
How Did Market Perceptions of the FOMC’s Reaction Function Change after the Fed’s Framework Review?

In late August, as part of the Federal Reserve’s review of Monetary Policy Strategy, Tools, and Communications, the Federal Open Market Committee (FOMC) published a revised Statement on Longer-Run Goals and Monetary Policy Strategy. As observers have noted, the revised statement incorporated important changes to the Federal Reserve’s approach to monetary policy. This includes emphasizing maximum employment as a broad-based and inclusive goal and focusing on “shortfalls” rather than “deviations” of employment from its maximum level. The statement also noted that, in order to anchor ...
Liberty Street Economics , Paper 20201218

FILTER BY Bank

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

Afonso, Gara 1 items

Cipriani, Marco 1 items

Clampitt, Steph 1 items

La Spada, Gabriele 1 items

Raskin, Matthew 1 items

show more (4)

FILTER BY Jel Classification

D53 1 items

E58 1 items

G1 1 items

PREVIOUS / NEXT