| dc.description.abstract | Given the institutional arrangements in the United
states, the money supply is determined jointly by the
actions of the monetary authorities, the commercial banks,
and the public. The public's demand for currency and time
deposits relative to demand deposits and the banks' demand
for excess reserves and borrowings from the Federal Reserve
banks can have, and at times have 'had, a significant affect
on the money supply. Consequently, knowledge about these
demand functions is a prerequisite for a complete understanding of the money supply mechanism. The purpose of this
dissertation is to try to increase our understanding of one
of these demand functions, the banks' demand for excess
reserves. | en |
