OPEN MARKET OPERATIONS AND RESERVE SETTLEMENT PERIODS: A PROPOSED EXPERIMENT

Authors


  • The authors are indebted to Edward C. Fecht, Donald B. Riefler, and James D. Robinson, III, all of the Morgan Guaranty Trust Co., and to Donald C. Miller of the Continental Illinois National Bank and Trust Company of Chicago for the helpful suggestions that they made as this reply was being drafted.

Ancillary