THE EFFECT OF CHANGES IN RESERVE REQUIREMENTS DURING THE 1930s:

Preprint OPEN
Thomas Mayer; Thomas F. Cargill;
(2004)
  • Subject: excess reserves, Federal Reserve, Great Depression, reserve requirements, 1937-38
    • jel: jel:E32 | jel:E65 | jel:N12

The differential response of cash reserves of member banks and nonmember banks not subject to the 1936-37 increase in reserve requirements is estimated to determine whether the 1937-38 recession was caused by the increase in reserve requirements. We identify 17 states t... View more
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