Recent Open Market Committee Policy and Technique

Deane Carson

The Quarterly Journal of Economics, 1955, vol. 69, issue 3, 321-342

Abstract: I. Introduction, 321. — II. Basic arguments for a free government securities market, 323. — III. Evaluation of the free market hypotheses, 328. — IV. Technical advantages of a free market, 333. — V. "Bills only," minimum intervention, and monetary management, 335; effects of operations in the bill market on the long-term sector, 335; internal consistency of the "bills-only" doctrine with minimum intervention, 339; implicit limitations of bill operations, 340. — VI. Conclusions, 341.

Date: 1955
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