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Asset-based reserve requirements

Author

Listed:
  • Amelia Correa
  • Romar Correa

Abstract

We offer a comprehensive macroeconomic appraisal of asset-based reserve requirements. Our new multiplier meets the concerns of scholars and practitioners concerned with systemic stability. In the process we propose a fresh look at discount window operations. The case is made from the stock-flow-consistent accounts of Godley and Lavoie (2007).

Suggested Citation

  • Amelia Correa & Romar Correa, 2016. "Asset-based reserve requirements," International Journal of Pluralism and Economics Education, Inderscience Enterprises Ltd, vol. 7(1), pages 39-44.
    • Handle: RePEc:ids:ijplur:v:7:y:2016:i:1:p:39-44
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    References listed on IDEAS

    as
    1. Thomas I. Palley, 2013. "Monetary Policy and Central Banking after the Crisis: The Implications of Rethinking Macroeconomic Theory," Palgrave Macmillan Books, in: Financialization, chapter 11, pages 182-200, Palgrave Macmillan.
    2. Athanasios Orphanides, 2015. "Fear of Liftoff: Uncertainty, Rules, and Discretion in Monetary Policy Normalization," Review, Federal Reserve Bank of St. Louis, vol. 97(3).
    3. Thomas Palley, 2004. "Asset-based reserve requirements: reasserting domestic monetary control in an era of financial innovation and instability," Review of Political Economy, Taylor & Francis Journals, vol. 16(1), pages 43-58.
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