The Role of Primary Dealers, Investment Banks and Foreign Banks in Federal Reserve Efforts to Change Bank Reserves and the Money Supply

John Heim

Chapter Chapter 5 in Why Fiscal Stimulus Programs Fail, Volume 2, 2021, pp 109-134 from Springer

Abstract: Abstract This chapter examines the types of banks through which the Fed purchases securities when it wants to enact stimulative monetary policy. The chapter compares the effectiveness of securities purchases from investment banks with that of commercial and savings banks to determine which is more effective in stimulating the economy and concludes commercial and savings banks are more effective. Purchases from foreign banks are also found to be less effective.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-64727-8_5

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DOI: 10.1007/978-3-030-64727-8_5

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