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Anderson, Richard G.; Rasche, Robert H. - Federal Reserve Bank of St. Louis - 2000

held, and of the amount held abroad. Most macroeconomic models that address the role of outside money as a determinant of …

Persistent link: https://www.econbiz.de/10005352832

Construction of an estimated domestic monetary base using new estimates of foreign holdings of U.S. currency

Anderson, Richard G.; Rasche, Robert H. - Federal Reserve Bank of St. Louis - 1997

This paper presents a new method to estimate the amount of U.S. currency held abroad. The method exploits the fact the Federal Reserve System is the major processor of currency for depository institutions. The method exploits differentials across denominations in the ratios of shipments to...

Persistent link: https://www.econbiz.de/10005352909

Avoiding the inflation tax

Ennis, Huberto M. - Federal Reserve Bank of Richmond - 2005

Persistent link: https://www.econbiz.de/10005387444

Shortages of small change in early Argentina

Ennis, Huberto M. - Federal Reserve Bank of Richmond - 2003

circulation low quality subsidiary coins, and (iii) the numerous official resolutions banning the exporting of fractional money …

Persistent link: https://www.econbiz.de/10004993975

Avoiding the inflation tax

Ennis, Huberto M. - Federal Reserve Bank of Richmond - 2007

environment, I show that higher inflation induces some buyers to spend their money faster by frontloading their consumption …I study the effects of inflation on the purchasing behavior of buyers in an economy where money is essential for … increases, agents try to spend their money holdings speedily. The standard framework fails to capture this kind of effect (see …

Persistent link: https://www.econbiz.de/10004994037

Aggregate demand management with multiple equilibria

Ennis, Huberto M. (contributor); Keister, Todd (contributor) - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001886074

Large excess reserves in the U.S.: a view from the cross-section of banks

Ennis, Huberto M.; Wolman, Alexander L. - Federal Reserve Bank of Richmond - 2012

Bank reserves in the United States increased dramatically at the end of 2008. Subsequent asset purchase programs in 2009 and 2011 more than doubled the quantity of reserves outstanding. These events required major adjustments in banks' balance sheets. We study the evolution of reserve holdings...

Persistent link: https://www.econbiz.de/10010593680

The great inflation: did the shadow know better?

Poole, William; Rasche, Robert H.; Wheelock, David C. - Federal Reserve Bank of St. Louis - 2008

The Shadow Open Market Committee was formed in 1973 in response to rising inflation and the apparent unwillingness of U.S. policymakers to implement policies necessary to maintain price stability. This paper describes how the Committee's policy views differed from those of most Federal Reserve...

Persistent link: https://www.econbiz.de/10005352943

Perfecting the market's knowledge of monetary policy

Poole, William; Rasche, Robert H. - Federal Reserve Bank of St. Louis - 2000

The rational expectations revolution made clear that a complete macro model requires a specification of the government's economic policy. We argue that monetary policy should be conducted in such a way that the market can predict policy actions. An implication of market success in predicting...

Persistent link: https://www.econbiz.de/10005360639

The reform of October 1979: how it happened and why

Lindsey, David E.; Orphanides, Athanasios; Rasche, Robert H. - Federal Reserve Bank of St. Louis - 2004

This study offers a historical review of the monetary policy reform of October 6, 1979, and discusses the influences behind it and its significance. We lay out the record from the start of 1979 through the spring of 1980, relying almost exclusively upon contemporaneous sources, including the...

Persistent link: https://www.econbiz.de/10005490991