Afonso, Gara; Kim, Kyungmin; Martin, Antoine; Nosal, Ed; … - 2020
Methods of monetary policy implementation continue to change. The level of reserve supply - scarce, abundant, or … experience in the United States since the 2007-09 financial crisis. We find that the optimal level of reserve supply likely lies … "ample" reserves. The Federal Reserve's announcement in October 2019 that it would maintain a level of reserve supply greater …