This paper shows reserve requirements remain a tax at the margin. Aggregate reserves look ample, yet deposit-weighted distributions reveal a hollow buffer. Many deposits still face binding constraints despite system-wide abundance.
The 2020 Federal Reserve elimination of reserve requirements led banks to significantly reallocate their balance sheets toward both securities and loans, though the marginal effect on credit supply was [large/limited] relative to securities investment.
Principles of Macroeconomics equips business students with the economic literacy needed for professional success. The course develops your ability to interpret economic data, understand business cycles, and analyze how Federal Reserve decisions and government policies affect the world around you.
Formally derives binary incidence of reserve requirements: with interest or excess reserves no tax, but beyond buffers costs reappear; US data demonstrate fifty‑fold safety margin since 2008 for reserve policy.
This course explores economic growth, emphasizing GDP and the role of innovative ideas, not just capital accumulation. It delves into business fluctuations, studying unemployment, inflation, and aggregate supply and demand. The course also examines macroeconomic policies and institutions, including the Federal Reserve, monetary and fiscal policies, and the interplay between economics and politics.
Money and Banking provides an in-depth examination of the US monetary system using a powerful combination of theory, history, and empirical analysis. The topics covered include the history and function of money, the development and role of commercial banking, and US central banking and monetary policy.
This is a crash course in economic problems and public policy. The goal is to build on economic principles and develop an understanding of how modern economist think about problems in the public policy space.
This paper constructs a more holistic model of M&A activity to produce accurate estimates of merger and acquisition determinants and reveal the bias of previous estimation techniques.