The authors are grateful to Ian Adelstein, Enghin Atalay, and Vijay Narasiman for excellent research assistance. We thank Craig Furfine, Todd Keister, Arvind Krishnamurthy, Gunther Wuyts, and seminar participants at the 2007 FDIC/JFSR 7th Annual Bank Research Conference, the Second New York Fed–Princeton Liquidity Conference, the New York Fed 2008 Money and Payments Workshop on Implementing Monetary Policy, the FRBC-JMCB Conference on Liquidity in Frictional Markets, and the 2009 ECB Workshop on Challenges to Monetary Policy Implementation Beyond the Financial Market Turbulence for helpful comments. The views expressed in this paper are those of the authors and do not necessarily reflect the views of the Federal Reserve Bank of New York or the Federal Reserve System.
Precautionary Reserves and the Interbank Market
Version of Record online: 23 SEP 2011
© 2011 Federal Reserve Bank of New York
Journal of Money, Credit and Banking
Volume 43, Issue Supplement s2, pages 311–348, October 2011
How to Cite
ASHCRAFT, A., MCANDREWS, J. and SKEIE, D. (2011), Precautionary Reserves and the Interbank Market. Journal of Money, Credit and Banking, 43: 311–348. doi: 10.1111/j.1538-4616.2011.00438.x
- Issue online: 23 SEP 2011
- Version of Record online: 23 SEP 2011
- Received December 8, 2008; and accepted in revised form August 12, 2010.
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