Cases and Materials on Commercial Paper and Bank Deposits and Collections
Author : William D. Hawkland
Publisher :
Page : 588 pages
File Size : 22,90 MB
Release : 1967
Category : Negotiable instruments
ISBN :
Author : William D. Hawkland
Publisher :
Page : 588 pages
File Size : 22,90 MB
Release : 1967
Category : Negotiable instruments
ISBN :
Author : Edward Allan Farnsworth
Publisher :
Page : 542 pages
File Size : 33,61 MB
Release : 1984
Category : Negotiable instruments
ISBN :
Author : William D. Hawkland
Publisher :
Page : 512 pages
File Size : 19,44 MB
Release : 1971
Category :
ISBN :
Author : Ronald L. Hersbergen
Publisher :
Page : 604 pages
File Size : 24,14 MB
Release : 1979
Category : Bank deposits
ISBN :
Author :
Publisher : UM Libraries
Page : 78 pages
File Size : 23,38 MB
Release : 1966
Category : Education, Higher
ISBN :
Author : University of Michigan
Publisher :
Page : 1084 pages
File Size : 10,78 MB
Release : 1967
Category :
ISBN :
Announcements for the following year included in some vols.
Author : Barkley Clark
Publisher :
Page : 0 pages
File Size : 34,69 MB
Release : 1988
Category : Security (Law)
ISBN :
Author : University of Michigan
Publisher :
Page : 1318 pages
File Size : 17,51 MB
Release : 1966
Category : Detroit (Mich.)
ISBN :
Announcements for the following year included in some vols.
Author :
Publisher :
Page : 1128 pages
File Size : 36,15 MB
Release : 1968
Category : Commercial law
ISBN :
Author : Mr.Jaromir Benes
Publisher : International Monetary Fund
Page : 71 pages
File Size : 46,9 MB
Release : 2012-08-01
Category : Business & Economics
ISBN : 1475505523
At the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits. Irving Fisher (1936) claimed the following advantages for this plan: (1) Much better control of a major source of business cycle fluctuations, sudden increases and contractions of bank credit and of the supply of bank-created money. (2) Complete elimination of bank runs. (3) Dramatic reduction of the (net) public debt. (4) Dramatic reduction of private debt, as money creation no longer requires simultaneous debt creation. We study these claims by embedding a comprehensive and carefully calibrated model of the banking system in a DSGE model of the U.S. economy. We find support for all four of Fisher's claims. Furthermore, output gains approach 10 percent, and steady state inflation can drop to zero without posing problems for the conduct of monetary policy.