Interest on Reserves (Again!)
Ellen Green, "Why Banks Aren't Lending: The Silent Liquidity Squeeze," is an excellent article on the consequences of paying interest on reserves, despite its proposed policy at the end. I stumbled on it because it favorably quotes me. Particularly important is its discussion of the impact on interbank lending, the ramifications of which hadn't occurred to me. David Henderson has a stimulating post on the article over at Econ Log.
comments powered by Disqus
- Craig Shirley says Ted Cruz is right and the Huffington Post wrong about Ronald Reagan’s 1980 Presidential Campaign
- Mystery at Notre Dame: A priest-historian has been forced to back off a project promoting authentic Catholic education
- William & Mary launching a gay history project
- "I teach the largest gay and lesbian history class in the country."
- Another year of declines in history enrollments