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Before the Accord: U.S. Monetary-Financial Policy 1945-51 / Barry Eichengreen, Peter Garber.
- Format:
- Book
- Author/Creator:
- Eichengreen, Barry.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w3380.
- NBER working paper series no. w3380
- Language:
- English
- Subjects (All):
- Monetary policy.
- Prices--Government policy.
- Prices.
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Before the Accord
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1990.
- Cambridge, Massachusetts : National Bureau of Economic Research, 1990.
- Summary:
- 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.
- Notes:
- Print version record
- June 1990.
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