The Optimal Supply of Central Bank Reserves under Uncertainty
Author
Abstract
Suggested Citation
DOI: 10.24148/wp2023-34
Download full text from publisher
Other versions of this item:
- Gara Afonso & Gabriele La Spada & Thomas M. Mertens & John C. Williams, 2023. "The Optimal Supply of Central Bank Reserves under Uncertainty," Staff Reports 1077, Federal Reserve Bank of New York.
References listed on IDEAS
- Bhattacharya, Joydeep & Haslag, Joseph & Russell, Steven, 2005.
"The role of money in two alternative models: When is the Friedman rule optimal, and why?,"
Journal of Monetary Economics, Elsevier, vol. 52(8), pages 1401-1433, November.
- Bhattacharya, Joydeep & Haslag, Joseph H. & Russell, Steven, 2004. "The role of money in two alternative models: When is the Friedman rule optimal, and why?," ISU General Staff Papers 200404010800001196, Iowa State University, Department of Economics.
- Bhattacharya, Joydeep & Haslag, Joseph & Russell, Steven, 2004. "The Role of Money in Two Alternative Models: When is the Friedman Rule Optimal, and Why?," Staff General Research Papers Archive 11950, Iowa State University, Department of Economics.
- Bhattacharya, Joydeep & Haslag, Joseph H. & Russell, Steven, 2005. "The role of money in two alternative models: When is the Friedman rule optimal, and why?," ISU General Staff Papers 200511010800001196, Iowa State University, Department of Economics.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Stefan Homburg, 2015. "Superneutrality of Money under Open Market Operations," CESifo Working Paper Series 5219, CESifo.
- Lukas Altermatt & Christian Wipf, 2024.
"Liquidity, the Mundell–Tobin Effect, and the Friedman Rule,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(5), pages 1235-1259, August.
- Lukas Altermatt & Christian Wipf, 2020. "Liquidity, the Mundell-Tobin Effect, and the Friedman Rule," Diskussionsschriften dp2013, Universitaet Bern, Departement Volkswirtschaft.
- Ho Wai-Ming, 2020.
"Liquidity constraints, international trade, and optimal monetary policy,"
The B.E. Journal of Macroeconomics, De Gruyter, vol. 20(2), pages 1-29, June.
- Ho Wai-Ming, 2020. "Liquidity constraints, international trade, and optimal monetary policy," The B.E. Journal of Macroeconomics, De Gruyter, vol. 20(2), pages 1-29, June.
- Joseph H. Haslag & Antoine Martin, 2007.
"Optimality of the Friedman Rule in an Overlapping Generations Model with Spatial Separation,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(7), pages 1741-1758, October.
- Joseph H. Haslag & Antoine Martin, 2007. "Optimality of the Friedman Rule in an Overlapping Generations Model with Spatial Separation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(7), pages 1741-1758, October.
- Joseph H. Haslag & Antoine Martin, 2003. "Optimality of the Friedman rule in overlapping generations model with spatial separation," Research Working Paper RWP 03-03, Federal Reserve Bank of Kansas City.
- Joe Haslag & Antoine Martin, 2003. "Optimality of the Friedman Rule in Overlapping Generations Model with Spatial Separation," Working Papers 0306, Department of Economics, University of Missouri.
- Joseph H. Haslag & Antoine Martin, 2005. "Optimality of the Friedman rule in an overlapping generations model with spatial separation," Staff Reports 225, Federal Reserve Bank of New York.
- Peter N. Ireland, 2005.
"The Liquidity Trap, The Real Balance Effect, And The Friedman Rule ,"
International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 46(4), pages 1271-1301, November.
- Peter N. Ireland, 2005. "The liquidity trap, the real balance effect, and the Friedman rule," Working Papers 05-3, Federal Reserve Bank of Boston.
- Machicado, Carlos Gustavo, 2008.
"Liquidity shocks and the dollarization of a banking system,"
Journal of Macroeconomics, Elsevier, vol. 30(1), pages 369-381, March.
- Carlos Gustavo Machicado, 2006. "Liquidity Shocks and the Dollarization of a Banking System," Development Research Working Paper Series 09/2006, Institute for Advanced Development Studies.
- Alexandre Cunha, 2008.
"The optimality of the Friedman rule when some distorting taxes are exogenous,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 35(2), pages 267-291, May.
- Alexandre B. Cunha, 2005. "The Optimality of the Friedman Rule When Some Distorting Taxes Are Exogenous," IBMEC RJ Economics Discussion Papers 2005-06, Economics Research Group, IBMEC Business School - Rio de Janeiro.
- Alexandre B. Cunha, 2006. "The Optimality Of The Friedman Rule When Some Distorting Taxes Are Exogenous," Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting] 45, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
- Bhattacharya, Joydeep & Singh, Rajesh, 2008.
"Usefulness Of The Constrained Planning Problem In A Model Of Money,"
Macroeconomic Dynamics, Cambridge University Press, vol. 12(4), pages 503-525, September.
- Bhattacharya, Joydeep & Singh, Rajesh, 2006. "On the Usefulness of the Constrained Planning Problem in a Model of Money," Staff General Research Papers Archive 12660, Iowa State University, Department of Economics.
- Bhattacharya, Joydeep & Singh, Rajesh, 2008. "On the usefulness of the constrained planning problem in a model of money," ISU General Staff Papers 200809010700001158, Iowa State University, Department of Economics.
- Bhattacharya, Joydeep & Singh, Rajesh, 2007. "On the usefulness of the constrained planning problem in a model of money," ISU General Staff Papers 200703060800001158, Iowa State University, Department of Economics.
- Joydeep Bhattacharya & Joseph H. Haslag & Antoine Martin, 2005.
"Heterogeneity, Redistribution, And The Friedman Rule,"
International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 46(2), pages 437-454, May.
- Bhattacharya, Joydeep & Haslag, Joseph & Martin, Antoine, 2004. "Heterogeneity, Redistribution, and the Friedman Rule," Staff General Research Papers Archive 11371, Iowa State University, Department of Economics.
- Bhattacharya, Joydeep & Haslag, Joseph H. & Martin, Antoine, 2005. "Heterogeneity, redistribution, and the Friedman rule," ISU General Staff Papers 200505050700001190, Iowa State University, Department of Economics.
- Bhattacharya, Joydeep & Haslag, Joseph H. & Martin, Antoine, 2004. "Heterogeneity, redistribution, and the Friedman rule," ISU General Staff Papers 200402090800001190, Iowa State University, Department of Economics.
- Joydeep Bhattacharya & Joseph H. Haslag & Antoine Martin, 2004. "Heterogeneity, redistribution, and the Friedman rule," Research Working Paper RWP 04-01, Federal Reserve Bank of Kansas City.
- Angus C. Chu & Guido Cozzi, 2014.
"R&D And Economic Growth In A Cash‐In‐Advance Economy,"
International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 55(2), pages 507-524, May.
- Chu, Angus C. & Cozzi, Guido, 2012. "R&D and economic growth in a cash-in-advance economy," MPRA Paper 39778, University Library of Munich, Germany.
- Chu, Angus C. & Cozzi, Guido, 2013. "R&D and Economic Growth in a Cash-in-Advance Economy," Economics Working Paper Series 1308, University of St. Gallen, School of Economics and Political Science.
- Pedro Gomis‐Porqueras & Christopher Waller, 2022.
"Optimal Taxes under Private Information: The Role of Inflation,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 54(7), pages 1941-1969, October.
- Pedro Gomis-Porqueras & Christopher J. Waller, 2017. "Optimal Taxes Under Private Information: The Role of the Inflation," Working Papers 2017-014, Federal Reserve Bank of St. Louis, revised 20 Aug 2020.
- Berentsen, Aleksander & Strub, Carlo, 2009.
"Central bank design with heterogeneous agents,"
European Economic Review, Elsevier, vol. 53(2), pages 139-152, February.
- Aleksander Berentsen & Carlo Strub, 2008. "Central Bank Design with Heterogeneous Agents," IEW - Working Papers 365, Institute for Empirical Research in Economics - University of Zurich.
- Peter Ireland, 2005. "EconomicDynamics Interviews Peter Ireland on Money and the Business Cycle," EconomicDynamics Newsletter, Review of Economic Dynamics, vol. 7(1), November.
- Homburg, Stefan, 2017.
"A Study in Monetary Macroeconomics,"
OUP Catalogue,
Oxford University Press, number 9780198807537.
- Stefan Homburg, 2017. "Programs for "A Study in Monetary Macroeconomics"," QM&RBC Codes 205, Quantitative Macroeconomics & Real Business Cycles.
- Pietro Reichlin, 2018.
"Money Creation: Tax or Public Liquidity?,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 50(5), pages 1073-1094, August.
- Reichlin, Pietro, 2015. "Money Creation: Tax or Public Liquidity?," CEPR Discussion Papers 10819, C.E.P.R. Discussion Papers.
- Firouz Gahvari, 2012.
"The Friedman Rule in a Model with Endogenous Growth and Cash‐in‐Advance Constraint,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44(5), pages 787-823, August.
- Firouz Gahvari, 2012. "The Friedman Rule in a Model with Endogenous Growth and Cash-in-Advance Constraint," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 44(5), pages 787-823, August.
- Firouz Gahvari, 2009. "Friedman Rule in a Model with Endogenous Growth and Cash-in-advance Constraint," CESifo Working Paper Series 2708, CESifo.
- Yanagihara, Mitsuyoshi & Lu, Chen, 2013. "Cash-in-advance constraint, optimal monetary policy, and human capital accumulation," Research in Economics, Elsevier, vol. 67(3), pages 278-288.
- Gomme, Paul, 2015.
"Measuring the welfare costs of inflation in a life-cycle model,"
Journal of Economic Dynamics and Control, Elsevier, vol. 57(C), pages 132-144.
- Paul Gomme, 2008. "Measuring the Welfare Costs of Inflation in a Life-cycle Model," Working Papers 08001, Concordia University, Department of Economics.
- Paul Gomme, 2012. "Measuring the Welfare Costs of Inflation in a Life-cycle Model," Working Papers 12008, Concordia University, Department of Economics.
- Homburg Stefan, 2015.
"Superneutrality of Money under Open Market Operations,"
Review of Economics, De Gruyter, vol. 66(3), pages 289-302, December.
- Homburg, Stefan, 2015. "Superneutrality of Money under Open Market Operations," Hannover Economic Papers (HEP) dp-541, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät, revised Jan 2015.
- Matsuoka, Tarishi, 2012.
"Imperfect interbank markets and the lender of last resort,"
Journal of Economic Dynamics and Control, Elsevier, vol. 36(11), pages 1673-1687.
- Tarishi Matsuoka, 2010. "Imperfect Interbank Markets and the Lender of Last Resort," KIER Working Papers 731, Kyoto University, Institute of Economic Research.
More about this item
Keywords
central bank reserves; uncertainty;JEL classification:
- E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
NEP fields
This paper has been announced in the following NEP Reports:- NEP-BAN-2024-01-01 (Banking)
- NEP-MON-2024-01-01 (Monetary Economics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedfwp:97340. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Federal Reserve Bank of San Francisco Research Library (email available below). General contact details of provider: https://edirc.repec.org/data/frbsfus.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.