A computational model of banks' optimal reserve management policy

Journal of Economic Dynamics and Control

Volumn 26, Issue 11, 2002, Pages 1787-1814

  Clouse, James A ^a   Dow Jr , James P ^b  

^a FEDERAL RESERVE BOARD   (United States)

^b CALIFORNIA STATE UNIVERSITY   (United States)

Author keywords

Bank reserves; Federal funds market

Indexed keywords

EID: 0036261183     PISSN: 01651889     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0165-1889(01)00010-0     Document Type: Article

References (14)

1. Dynamic Programming and Stochastic Control
2. The implementation of monetary policy in industrial countries: A survey
3. Implementation of monetary policy in a regime with zero reserve requirements
4. Fixed costs and the behavior of the federal funds rate
5. Reserve requirements: History, current practice, and potential reform
6. The carry-forward provision and management of bank reserves
7. Interbank payments and the daily federal funds rate
8. Day-of-the-week effects in federal funds rates: Further empirical findings
9. The effect of federal reserve accounting rules on the equilibrium level of overnight repo rates
10. The daily market for federal funds
11. Optimal behavior of direct clearers in a world with zero reserve requirements
12. Commercial bank reserve management in a stochastic model: Implications for monetary policy
13. The micromechanics of the federal funds market: Implications for day-of-the-week effects in funds rate variability
14. Bank reserve adjustment process and the use of reserve carryover as a reserve management tool