1
اقتصاد::
مبنای پولی
Such an increase could stem from open market purchases (or sales) by the Fed, given an assumption that any change in the monetary base is willingly accepted (or released)
Any change in the monetary base will be allocated in market equilibrium between required reserves and excess reserves, with the remainder going to currency held by the public.
the responsiveness of the level of retail loans to increases in the monetary base generated by successive rounds of quantitative easing during the post-October 2008 period.
The Fed may also possibly feel they need to pay equal rates on required and excess reserves above the federal funds rate, so that they can increase interest rates without having to contract the monetary base or their asset portfolio.
Therefore, changes in ON RRPs affect the monetary base, but not total Fed assets.18
واژگان شبکه مترجمین ایران