The Federal Reserve’s Evolving Monetary Policy Implementation Framework: 1914-1923

Benjamin Chabot

No WP-2017-1, Working Paper Series from Federal Reserve Bank of Chicago

Abstract: The Federal Reserve has relied upon a number of different monetary policy implementation frameworks throughout its history. This paper describes the original implementation framework that evolved between 1914 and 1923 in response to new policy objectives and changing market conditions.

Keywords: Monetary policy implementation; standing facilities; open market operations (search for similar items in EconPapers)
JEL-codes: E52 E58 E59 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2017-01-18
New Economics Papers: this item is included in nep-cba, nep-his, nep-hpe, nep-mac and nep-mon
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Citations: View citations in EconPapers (2)

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