The role of a regional bank in a system of central banks
Marvin Goodfriend
No 99-04, Working Paper from Federal Reserve Bank of Richmond
Abstract:
The paper assesses the role of a Reserve Bank in the Federal Reserve System. It compares the Eurosystem with the Fed System, and offers suggestions for the Eurosystem based on the Fed's experience. A regional presence facilitates surveillance of the economy and helps a central bank to communicate with the public. Competition among regional banks stimulates innovative thinking on operational, research, and policy questions. The Chairman (President) of the system should be strong enough to encourage diverse views in the monetary policy committee and to build a consensus for decisive and timely policy actions as needed.
Keywords: Banks and banking; Federal Reserve System (search for similar items in EconPapers)
Date: 1999
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)
Downloads: (external link)
http://www.richmondfed.org/publications/research/working_papers/1999/wp_99-4.cfm (text/html)
https://www.richmondfed.org/-/media/RichmondFedOrg ... /1999/pdf/wp99-4.pdf Full text (application/pdf)
Related works:
Journal Article: The role of a regional bank in a system of central banks (2000) 
Journal Article: The role of a regional bank in a system of central banks (1999) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:fip:fedrwp:99-04
Ordering information: This working paper can be ordered from
Access Statistics for this paper
More papers in Working Paper from Federal Reserve Bank of Richmond Contact information at EDIRC.
Bibliographic data for series maintained by Christian Pascasio ().