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The Economics of "Bills Preferably"

Ralph A. Young and Charles A. Yager

The Quarterly Journal of Economics, 1960, vol. 74, issue 3, 341-373

Abstract: Scope of paper, 341. — Any open market policy hinges on a well-performing government securities market, 342. — How the market facilitates monetary policy, 351. — Why monetary policy prefers short-term securities, 358. — Open market operations for other objectives, 363. — Concluding observations, 371.

Date: 1960
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The Quarterly Journal of Economics is currently edited by Robert J. Barro, Lawrence F. Katz, Nathan Nunn, Andrei Shleifer and Stefanie Stantcheva

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