MONETARY POLICY IN THE “CHECKLESS” ECONOMY

Authors

  • Donald D. Hester

    Search for more papers by this author
    • Professor of Economics, University of Wisconsin.

      Research described in this report was in part supported by a grant from the National Science Foundation. I wish to thank Karen Hester and Kenneth White for helpful comments on an early draft of this paper and Michael Vogt for research assistance. Finally, the Board of Governors of the Federal Reserve System was most helpful in providing me with background information about the present and proposed future clearing mechanisms.


Ancillary