credit allocation Archives

balance sheet, credit allocation, Interest on Excess Reserves, money multiplier money, reverse repos

Money & Politics, The Fed & Central Banks

On Shrinking the Fed's Balance Sheet

George Selgin/February 23, 2017March 14, 2017 /36 Comments

If you're a regular Alt-M reader (and may the frost never afflict your spuds if you are), I needn't tell you that I'm the last person to exalt the pre-2008 Federal Reserve System. Among other things, I blame that system for fueling the 2003-2006 boom, and for…

credit allocation, OMOs, open market operations, lender of last resort, Flexbile OMOs, money supply, fed, federal reserve, Term Auction Facility

Booms & Busts, The Fed & Central Banks

Reforming Last-Resort Lending: The Flexible Open Market Alternative

George Selgin/August 18, 2016August 24, 2016 /30 Comments

Having spent the last month or so poring over writings on last-resort lending,* and especially writings dealing with the recent crisis and its aftermath, with the particular aim of discovering the best means for supplying last-resort credit when it's called for, and for not supplying it when…