Before the Accord: U.S. Monetary-Financial Policy 1945-51 /
Eichengreen, Barry.
Before the Accord: U.S. Monetary-Financial Policy 1945-51 / Barry Eichengreen, Peter Garber. - Cambridge, Mass. National Bureau of Economic Research 1990. - 1 online resource: illustrations (black and white); - NBER working paper series no. w3380 . - Working Paper Series (National Bureau of Economic Research) no. w3380. .
June 1990.
Thia paper analyzes U.S. monetary-financial policy in the period leading up to the Treasury-Fed Accord. We model policy as an implicit target zone for the price level and an explicit zone for interest rates, and the difficulties on the eve of the Accord as an incipient run on a collapsing target-zone regime. The regime was implemented to maintain the stability of the financial system in a period when there was a serious maturity mismatch between the assets and liabilities of the banking system.
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Mode of access: World Wide Web.
Before the Accord: U.S. Monetary-Financial Policy 1945-51 / Barry Eichengreen, Peter Garber. - Cambridge, Mass. National Bureau of Economic Research 1990. - 1 online resource: illustrations (black and white); - NBER working paper series no. w3380 . - Working Paper Series (National Bureau of Economic Research) no. w3380. .
June 1990.
Thia paper analyzes U.S. monetary-financial policy in the period leading up to the Treasury-Fed Accord. We model policy as an implicit target zone for the price level and an explicit zone for interest rates, and the difficulties on the eve of the Accord as an incipient run on a collapsing target-zone regime. The regime was implemented to maintain the stability of the financial system in a period when there was a serious maturity mismatch between the assets and liabilities of the banking system.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.