Payments and Output
Review of Economic Dynamics, 2002, vol. 5, issue 3, 602-617
Output declines may be caused or propagated through the payments system by shortages of the reserves required for the payment of factors of production. Appropriate open market purchases arwe shown able to lower the short run interest rate on liquid assets and relieve the output disruption. (Copyright: Elsevier)
Keywords: payment crises; reserves (search for similar items in EconPapers)
JEL-codes: E42 E58 (search for similar items in EconPapers)
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