Monetary base endogeneity and the new procedures of the asset-based Canadian and American monetary systems

References

• Bank of Canada. "Cash Reserve Management." Bank of Canada Review, June 1975, 1-11.
   Google Scholar
• ------. "Discussion Paper on the Implementation of Monetary Policy in the Absence of Reserve Requirements." Bank of Canada, Ottawa, Ontario, September 29, 1987.
   Google Scholar
• Mitlid, K., and Vesterlund, M. "Steering Interest Rates in Monetary Policy--How Does It Work?" Sveriges Riksbank Economic Review, 1, 2001, 19-41.
   Google Scholar
• Moore, B.J. Horizontalists and Verticalists: The Macroeconomics of Credit Money. Cambridge: Cambridge University Press, 1988.
   Google Scholar
• ------. "The Implementation of Monetary Policy in a System with Zero Reserve Requirements." Bank of Canada Review, May 1991, 23-31.
   Google Scholar
• Le Bourva, J. "Money Creation and Money Multipliers." Review of Political Economy, October 1992, 4 (4), 447-466.
   Google Scholar
• Lombra, R.E., and Torto, R.G. "Federal Reserve 'Defensive' Behavior and the Reverse Causation Argument." Southern Economic Journal, July 1973, 40 (1), 47-55.
   Google Scholar
• ------. "Money Supply Endogeneity: 'Reserve Price Setting' or 'Reserve Quantity
   Google Scholar
• Setting.'" Journal of Post Keynesian Economics, Spring 1991, 13 (3), 404-413.
   Google Scholar
• Atesoglu, H.S. "Monetary Transmission--Federal Funds Rate and Prime Rate." Journal of Post Keynesian Economics, Winter 2003-4, 26 (3), 357-362.
   Google Scholar
• Lundrigan, E., and Toll, S. "The Overnight Market in Canada." Bank of Canada Review, Winter 1997-98, 27-42.
   Google Scholar
• ------. "Monetary Policy and Long-Term Interest Rates." Journal of Post Keynesian Economics, Spring 2005, 27 (3), 533-539.
   Google Scholar
• ------. "A Proposed Framework for the Implementation of Monetary Policy in the Large Value Transfer System Environment." Discussion Paper 1, Bank of Canada, Ottawa, Ontario, 1995.
   Google Scholar
• ------. "Bank of Canada's Target for the Minimum Daily Level of Large Value Transfer System Settlement Balances Confirmed." Ottawa, Ontario, 2001 (available at www.bank-banque-canada.ca/en/notices_fmd/not141201.htm).
   Google Scholar
• Bell, S. "Do Taxes and Bonds Finance Government Spending?" Journal of Economic Issues, September 2000, 34 (3), 603-620.
   Google Scholar
• Bell, S., and Wray, L.R. "Fiscal Effects on Reserves and the Independence of the Fed." Journal of Post Keynesian Economics, Winter 2002-3, 25 (2), 263-272.
   Google Scholar
• Chick, V. The Theory of Monetary Policy. Oxford: Parkgate Books, 1977.
   Google Scholar
• Clinton, K. "Bank of Canada Cash Management: The Main Technique for Implementing Monetary Policy." Bank of Canada Review, January 1991, 3-32.
   Google Scholar
• ------. "Implementation of Monetary Policy in a Regime with Zero Reserve Requirements." Working Paper 97-8, Bank of Canada, Ottawa, Ontario, 1997.
   Google Scholar
• Edwards, C.L. "Open Market Operations in the 1990s." Federal Reserve Bulletin, November 1997, 83 (11), 859-874.
   Google Scholar
• Eichner, A.S. The Macrodynamics of Advanced Market Economies. Armonk, NY: M.E. Sharpe, 1987.
   Google Scholar
• Eichner, A.S.; Forman, L.; and Groves, M. "The Demand for Money Further Reconsidered." In A.S. Eichner (ed.), Toward a New Economics: Essays in Post-Keynesian and Institutionalist Theory. London: Macmillan, 1985, pp. 98-112.
   Google Scholar
• Fontana, G., and Palacio-Vera, A. "Monetary Policy Rules: What Are We Learning?" Journal of Post Keynesian Economics, Summer 2002, 24 (4), 547-568.
   Google Scholar
• Fullwiler, S.T. "Timeliness and the Fed's Daily Tactics." Journal of Economic Issues, December 2003, 37 (4), 851-880.
   Google Scholar
• Goodfriend, M. "Interest on Reserves and Monetary Policy." FRBNY Economic Policy Review, May 2002, 8 (1), 77-84.
   Google Scholar
• Goodhart, C. "Monetary Base." In J. Eatwell, M. Milgate, and P. Newman (eds.), The New Palgrave, vol. 3. London: Macmillan, 1987, pp. 500-502.
   Google Scholar
• Goodlet, C. "Clearing and Settlement Systems and the Bank of Canada." Bank of Canada Review, Autumn 1997, 49-64.
   Google Scholar
• Guthrie, G., and Wright, J. "Open Mouth Operations." Journal of Monetary Economics, 2000, 46 (2), 489-516.
   Google Scholar
• Hicks, J. The Crisis in Keynesian Economics. Oxford: Blackwell, 1974.
   Google Scholar
• Howard, D. "A Primer on the Implementation of Monetary Policy in the LVTS Environment." Bank of Canada Review, Fall 1998, 57-66.
   Google Scholar
• Keynes, J.M. The Treatise on Money. London: Macmillan, 1930.
   Google Scholar
• ------. The General Theory of Employment, Interest and Money. London: Macmillan, 1936.
   Google Scholar
• Krieger, S.C. "Recent Trends in Monetary Policy Implementation: A View from the Desk." FRBNY Economic Policy Review, May 2002, 8 (1), 73-76.
   Google Scholar
• Lavoie, M. "The Endogenous Flow of Credit and the Post Keynesian Theory of Money." Journal of Economic Issues, September 1984, 18 (3), 771-798.
   Google Scholar
• ------. Foundations of Post-Keynesian Economic Analysis. Aldershot, UK: Edward Elgar, 1992.
   Google Scholar
• Lavoie, M., and Seccareccia, M. (eds.). Central Banking in the Modern World: Alternative Perspectives. Cheltenham, UK: Edward Elgar, 2004.
   Google Scholar
• ------. "Some Reflections on Endogenous Money." In L.P. Rochon and M. Vernengo (eds.), Credit, Interest Rates and the Open Economy: Essays on Horizontalism. Cheltenham, UK: Edward Elgar, 2001, pp. 11-30.
   Google Scholar
• Mosler, W. "Full Employment and Price Stability." Journal of Post Keynesian Economics, Winter 1997-98, 20 (2), 167-182.
   Google Scholar
• ------. "A Critique of John B. Taylor's 'Expectations, Open Market Operations, and
   Google Scholar
• Changes in the Federal Funds Rate.'" Journal of Post Keynesian Economics, Spring 2002, 24 (3), 419-422.
   Google Scholar
• Palley, T.I. "The Endogenous Money Supply: Consensus and Disagreement." Journal of Post Keynesian Economics, Spring 1991, 13 (3), 397-403.
   Google Scholar
• ------. "Accommodationism Versus Structuralism: Time for an Accommodation." Journal of Post Keynesian Economics, Summer 1996, 18 (4), 585-594.
   Google Scholar
• Pollin, R. "Two Theories of Money Supply Endogeneity: Some Empirical Evidence." Journal of Post Keynesian Economics, Spring 1991, 13 (3), 366-396.
   Google Scholar
• ------. "Money Supply Endogeneity: What Are the Questions and Why They Matter." In G. Deleplace and E.J. Nell (eds.), Money in Motion: The Post Keynesian and Circulation Approaches. London: Macmillan, 1996, pp. 490-515.
   Google Scholar
• Renversez, F. "Monetary Circulation and Overdraft Economies." In G. Deleplace and E.J. Nell (eds.), Money in Motion: The Post Keynesian and Circulation Approaches. London: Macmillan, 1996, pp. 465-488.
   Google Scholar
• Rochon, L.P. Credit, Money and Production: An Alternative Post-Keynesian Approach. Cheltenham, UK: Edward Elgar, 1999.
   Google Scholar
• Rogers, C., and Rymes, T.K. "The Disappearance of Keynes's Nascent Theory of Banking Between the Treatise and the General Theory." In J. Smithin (ed.), What Is Money? London: Routledge, 2000, pp. 257-269.
   Google Scholar
• Sellon, G.H., and Weiner, S.E. "Monetary Policy Without Reserve Requirements: Case Studies and Options for the United States." Federal Reserve Bank of Kansas City Economic Review, 1997, 82 (2), 5-30.
   Google Scholar
• Taylor, J.B. "Expectations, Open Market Operations and Changes in the Federal Funds Rate." Federal Reserve Bank of St. Louis Review, July-August 2001, 83 (4), 33-48.
   Google Scholar
• Thomas, J.G. "Illusion monétaire et illusions monétaristes" [Monetary Illusion and Monetarist Illusions]. Revue d'économie politique, November-December 1981, 91 (6), 947-965.
   Google Scholar
• Whitesell, W. "Tunnels and Reserves in Monetary Policy Implementation." Finance< and Discussion Papers 2003-28, Federal Reserve Board, Washington, DC, July 2003 (available at www.federalreserve.gov/pubs/feds/2003/200328/200328pap.pdf).
   Google Scholar
• Wojnilower, A.M. "The Central Role of Credit Crunches in Recent Financial History." Brookings Papers on Economic Activity, 1980, 2, 277-326.
   Google Scholar
• Woodford, M. "Monetary Policy in the Information Economy." Working Paper, Princeton University, September 2001 (available at www.princeton.edu/%7Ewoodford/JHole01.pdf).
   Google Scholar
• ------. "Financial Market Efficiency and the Effectiveness of Monetary Policy." FRBNY Economic Policy Review, May 2002, 8 (1), 85-94.
   Google Scholar
• Wray, L.R. "A Keynesian Theory of Banking: A Comment on Dymski." Journal of Post Keynesian Economics, Fall 1989, 12 (1), 152-156.
   Google Scholar
• ------. Understanding Modern Money: The Key to Full Employment and Price Stability. Cheltenham, UK: Edward Elgar, 1998.
   Google Scholar