Why Are Banks Holding So Many Excess Reserves

2009

171 citations recorded by the source corpus.

Citations in the corpus

Implementation of Monetary Policy: How Do Central Banks Set Interest Rates? (2010, unknown): “Keister & McAndrews ( 2009 ) provided evidence , for the U .”
Leverage across firms, banks, and countries ☆ (2012, unknown): “This mechanism is explained in detail in Keister and McAndrews (2009).”
Banks, Liquidity Management, and Monetary Policy (2014, unknown): “Building on the seminal work of Poole (1968), several studies have analyzed recent proposed changes in monetary policy frameworks (Ennis and Weinberg, 2007; Keister, Martin, and McAndrews, 2008; Keister and McAndrews, 2009; Ennis and Keister, 2008; Martin et al., 2013; Bech and Keister, 2017).”
The Chicago Plan Revisited (2012, unknown): “Keister and McAndrews (2009), staff economists at the Federal Reserve Bank of New York, write: “Suppose that Bank A gives a new loan of $20 to Firm X, which continues to hold a deposit account with Bank A. Bank A does this by crediting Firm X’s account by $20.”
Has the Fed Been a Failure (2012, unknown): “…the failure of the Penn Central Railroad, the stock market crash of October 1987, the Russian default of 1998, Y2K, and the 9/11 terrorist attacks.34 33 Keister and McAndrews (2009), while conceding that both the unprecedented growth in banks’ excess reserve holdings and the related collapse of…”