Techniques of Monetary ControlA study of the scope and method of central banking in the framework of the contemporary monetary system of the US. The book is a series of essays, each concerned with individual techniques of monetary continue. |
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Page 131
... velocity- augment the direct influence of the central bank on financial en- terprises in general . Without growth in Government debt , con- ventional monetary policy is largely limited to variation of re- serve requirements ...
... velocity- augment the direct influence of the central bank on financial en- terprises in general . Without growth in Government debt , con- ventional monetary policy is largely limited to variation of re- serve requirements ...
Page 132
... velocity or both . Any inflationary rise in velocity can be offset by a further restriction of the quantity of money . So long as the central bank has sufficient powers and resources to curtail the money supply , it will be able to ...
... velocity or both . Any inflationary rise in velocity can be offset by a further restriction of the quantity of money . So long as the central bank has sufficient powers and resources to curtail the money supply , it will be able to ...
Page 148
... velocity , of these deposits . The second theme was that " member banks , because of the low reserve against time de- posits , have been induced to classify as time deposits , deposits that are essentially demand in character . " 20 The ...
... velocity , of these deposits . The second theme was that " member banks , because of the low reserve against time de- posits , have been induced to classify as time deposits , deposits that are essentially demand in character . " 20 The ...
Contents
OpenMarket Operations Versus | 19 |
Supplementary SecurityReserve | 33 |
BillsOnly Doctrine | 53 |
Copyright | |
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Common terms and phrases
86th Congress activity argument Bank of England bank reserves bank's bills-only Board of Governors borrowing cent central bank central-bank control commercial banks commercial-bank time deposits demand deposits direct central-bank discount rate doctrine earning assets effect expansionary Federal Reserve Bank Federal Reserve System financial intermediaries Government debt Government securities market higher reserve requirements Ibid increase instruments interest rates interest-rate lending liquidity loanable funds loans long-term markets long-term rates long-term sector market operations maturity sectors means of payment member banks ment mercial banks monetary authority monetary control monetary system moral suasion Open Market Committee open-market operations payment on demand penalty rate private credit private financial institutions quirements ratio recession rediscount facility reduce Reserve's restrictive monetary policy savings banks short-term rates short-term sector structure of interest supplementary requirements supplementary security-reserve requirements techniques of monetary time-deposit operations tion total deposits Treasury U. S. Government Printing United States Congress velocity volume York