A simple general equilibrium model of large excess reserves

Huberto Ennis

No 1357, 2014 Meeting Papers from Society for Economic Dynamics

Abstract: This result suggest that there is a limit to the reserves-financed purchases of securities by the Fed if the intention is not to induce increases in the price level. After some point, if excess reserves become large enough, more reserves are associated with higher price levels.

Date: 2014
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Journal Article: A simple general equilibrium model of large excess reserves (2018)
Working Paper: A Simple General Equilibrium Model of Large Excess Reserves (2014)
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