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The Balance Sheet of the Exchange Stabilization Fund, 1934-2019

Author

Listed:
  • Sheng, Jiemin

    (The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise)

Abstract

In this paper, the author explores the balance sheet of the Exchange Stabilization Fund (ESF) over its first 85 years as a lens though which to analyze the fund. An accompanying spreadsheet workbook provides data from the annual balance sheet of the ESF since the fund’s inception in 1934. These data are available in electronic form for the first time, which will be of interest to those wishing to do quantitative analyses of its role in U.S. monetary policy.

Suggested Citation

  • Sheng, Jiemin, 2021. "The Balance Sheet of the Exchange Stabilization Fund, 1934-2019," Studies in Applied Economics 172, The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise.
    • Handle: RePEc:ris:jhisae:0172
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    File URL: https://sites.krieger.jhu.edu/iae/files/2021/02/The-Balance-Sheet-of-the-Exchange-Stabilization-Fund-1934-2019.pdf
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    More about this item

    Keywords

    Exchange Stabilization Fund (ESF); balance sheet; assets; liabilities; gold; foreign exchange intervention;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E59 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Other
    • N12 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - U.S.; Canada: 1913-

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