| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w21553 |
| 来源ID | Working Paper 21553 |
| Banker Preferences, Interbank Connections, and the Enduring Structure of the Federal Reserve System | |
| Matthew S. Jaremski; David C. Wheelock | |
| 发表日期 | 2015-09-14 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | Established by a three person committee in 1914, the structure of the Federal Reserve System has remained essentially unchanged ever since, despite criticism at the time and over ensuing decades. With Congress now considering reforms to the System, this paper examines the original selection of cities for Reserve Banks and branches, and of district boundaries. We show that each aspect of the Fed’s structure reflected the preferences of national banks, including adjustments to district boundaries after 1914. Further, using newly-collected data on interbank connections, we find that banker preferences mirrored established correspondent relationships. The Federal Reserve was thus formed on top of the structure that it was meant to replace. |
| 主题 | Macroeconomics ; Monetary Policy ; History ; Financial History |
| URL | https://www.nber.org/papers/w21553 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/579228 |
| 推荐引用方式 GB/T 7714 | Matthew S. Jaremski,David C. Wheelock. Banker Preferences, Interbank Connections, and the Enduring Structure of the Federal Reserve System. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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