Interest Payments on Commercial Bank Reserves to Curb Euro-money Markets
| Autor: | Herbert Grubel |
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| Rok vydání: | 1983 |
| Předmět: | |
| Zdroj: | Reflections on a Troubled World Economy ISBN: 9781349068944 |
| DOI: | 10.1007/978-1-349-06892-0_6 |
| Popis: | This essay begins with a brief summary of the economic costs and benefits of Euro-currency markets which provide the rationale for proposals to control them. Several of these proposals are then discussed and shown to be deficient on several grounds. There follows a description of how Euro-currency market growth can be curtailed through the payment of interest on required reserves and a discussion of the added benefits of the policy for domestic monetary management. The money and real economic costs of the proposed policy are analysed in the perspective of Federal Reserve profits and United States government spending. The final section contains a summary of the analysis and conclusions for policy.1 |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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