Federal Reserve Operations in the Money and Government Securities Markets.
R. F. Harrod,R. R. Roosa +1 more
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This article is published in The Economic Journal.The article was published on 1957-09-01 and is currently open access. It has received 16 citations till now. The article focuses on the topics: Interbank lending market & Open market operation.read more
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Book ChapterDOI
Chapter 24 – Implementation of Monetary Policy: How Do Central Banks Set Interest Rates?☆
TL;DR: In this paper, the authors present a model of the overnight interest rate setting process incorporating several key features of current monetary policy practice, including in particular reserve averaging procedures and a commitment, either explicit or implicit, by the central bank to lend or absorb reserves in response to differences between the policy interest rate and the corresponding target.
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A Comparative Perspective on Japanese Monetary Policy: Short-Run Monetary Control and the Transmission Mechanism
Journal ArticleDOI
The Rise and Fall of a Policy Rule: Monetarism at the St. Louis Fed, 1968-1986
Rik Hafer,David C. Wheelock +1 more
TL;DR: The authors traces the evolution of monetary policy research at the Federal Reserve Bank of St. Louis as it moved from the identification of long-run relationships between money and economic activity toward short-run policy analysis.