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Keywords:Bank reserves 

Journal Article
Reserve requirements: A modern perspective

The discussion in many money and banking textbooks would suggest that the Federal Reserve requires depository institutions to hold a minimum level of non-interest-earning reserves because (1) reserve requirements are a monetary policy tool that allows the Fed to expand the money supply and lower interest rates, and (2) reserve requirements improve the safety and soundness of depository institutions. This article argues that this "conventional wisdom" view is too narrow. ; The Fed often uses reserve requirement changes, the authors contend, to achieve non-monetary-policy objectives, as it ...
Economic Review , Volume 87 , Issue Q4 , Pages 41-52

Journal Article
Changes in payments technology and the welfare cost of inflation

Economic Review , Volume 79 , Issue May , Pages 1-12

Journal Article
Business Checking Freedom Act

Financial Update , Volume 16 , Issue Q 2

Journal Article
New account structure supports interstate branching

Financial Update , Volume 9 , Issue Apr , Pages 6

Journal Article
Sweep accounts lower reserve balances, complicate fed funds targeting

Financial Update , Volume 12 , Issue Jul , Pages 4-5

Working Paper
A public finance analysis of multiple reserve requirements

This paper analyzes multiple reserve requirements of the type that have been imposed by a number of developing countries. We show that previous theoretical work on this topic has not succeeded in providing a social welfare rationale for the existence of multiple reserve requirements. We go on to present a model in which it is possible for a multiple reserves regime to improve social welfare relative to simpler regimes involving reserve requirements and/or deposit taxes. We demonstrate the empirical plausibility of our approach by providing a case study of Mexico, a country with extensive ...
FRB Atlanta Working Paper , Paper 99-19

Working Paper
Banks, payments, and coordination

FRB Atlanta Working Paper , Paper 94-14

Working Paper
A welfare rationale for multiple reserve requirements

FRB Atlanta Working Paper , Paper 94-16

Working Paper
Are there optimal multiple reserve requirements?

A number of developing countries have adopted deficit-finance regimes involving multiple reserve requirements. One question the previous literature on this phenomenon has not addressed is whether multiple-reserves regimes can improve on regimes involving single-currency-reserve requirements if the policy settings of the latter regimes are assumed to be chosen optimally. We find that a "conventional" multiple-reserves regime--a regime with positive nominal rates on reservable bonds--cannot Pareto-improve an optimal single-currency-regime but can, in some cases, increase social welfare over ...
FRB Atlanta Working Paper , Paper 96-18

Working Paper
Multiple reserve requirements: the case of small open economies

FRB Atlanta Working Paper , Paper 91-12

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