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Should bank reserves earn interest?

Joseph Haslag () and Scott Freeman

Economic and Financial Policy Review, 1995, issue qiv, 25-33

Abstract: This article examines the effects and desirability of paying interest on required reserves. Scott Freeman and Joseph Haslag demonstrate that a policy of paying interest on reserves can make everyone better off, even if the interest must be financed by a tax on capital. An essential part of this policy is an open market operation that offsets any changes in the value of money.

Keywords: Bank; reserves (search for similar items in EconPapers)
Date: 1995
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Handle: RePEc:fip:fedder:y:1995:i:qiv:p:25-33