Banks' Demand for Excess Reserves.
A bank's demand function for excess reserves is derived using inventory theory. In the model, banks hold excess reserves as a means of reducing the cost of meeting their reserve requirements in a world in which they are faced with random reserve flows and transaction costs. The resulting demand curv...
| Publicado en: | Journal of Political Economy Vol. 79; no. 4; pp. 805 - 826 |
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| Formato: | Artículo |
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University of Chicago Press
Jul/Aug71
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| Acceso en línea: | Ver este registro en EBSCOhost |