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required reserves

excess reserves, liquidity coverage ratio, required reserves, reserve ratio, reserve-deposit ratio
Economic Thought, Free Banking, Monetary Policy Primer, The Fed & Central Banks

A Monetary Policy Primer, Part 6: The Reserve-Deposit Multiplier

George Selgin/July 12, 2016June 19, 2022

In my last post in this series, I observed that an economy's "base" money serves as the "raw material" that commercial banks and other private-market financial intermediaries employ in "producing" deposits of various kinds that can themselves serve as means of exchange. If they could do so…

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