The Central Banks: The International and European Directions

By William Frazer | Go to book overview

NOTES
1.
Actually each regional bank of the Federal Reserve System could set its own rate, and still can, but the practice became one of following the. New York bank for the most part. And because of this practice, one rate can be discussed.
2.
Early stages of the "big model" approach and solutions to them (reduced form equtions, and so on) are covered in Frazer ( 1973, Chapter 14). But refer also to note 10 of Chapter 4.
3.
In its operations in the discount market mostly in commercial and Treasury bills, the Bank of England deals directly with a select group of discount houses ( Staff 1988, 1990). This is not unlike the direct dealing between the Fed in New York and its own select group of money market firms. The major differences between the Bank of England's operations and the Fed's open market operations are three: (1) the Bank of England holds deposits from the banking system to meet financial obligations at the end of each business day, more like a check-clearing operation; (2) the opertions are "defensive," smoothing operations rather than a means of influencing bank reserves as a way of achieving targeted growth in the money and credit aggregates; and (3) the banking system's deposits at the Bank of England are not the system's main reserve component.
4.
Gross national product (GNP) represents the total of expenditures for consumption, government, and private investment in real capital, as well as foreign expenditures for net exports of goods and services (a minus when imports exceed exports). Gross domestic product (GDP) is GNP adjusted for the net export of goods and services.
5.
Functions depicting the reactions of the policy-making authorities, as indicated by some policy variable (say, M) to a list of other variables (say, the income and inflation and unemployment rates) became common in the 1960s, as the modern computer came on the scene. There is an extensive literature ( Frazer 1973, 196-198).
6.
On conditional and unconditional forecasts see ( Frazer 1988, 117-118).
7.
Confer Section 3.3d, note 8 of Chapter 3.
8.
Compare Chapter 4, note 12.

-201-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
The Central Banks: The International and European Directions
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
/ 264

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.