|
EconStor >
Claremont McKenna College >
Department of Economics, Claremont McKenna College >
Claremont Colleges Working Papers in Economics, Department of Economics, Claremont McKenna College >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/31447
|
| | |
Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Burdekin, Richard C. K. | | en_US |
| dc.contributor.author | | Weidenmier, Marc D. | | en_US |
| dc.date.accessioned | | 2010-05-14T11:06:34Z | | - |
| dc.date.available | | 2010-05-14T11:06:34Z | | - |
| dc.date.issued | | 2005 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/31447 | | - |
| dc.description.abstract | | When faced with a liquidity trap, a traditional open market purchase will generally be ineffective. Theoretical studies have suggested that intervention in other markets could offer a means of escaping from this trap. We provide some empirical evidence on the importance of non-traditional open market operations by examining the economic effects of FDR's Silver Purchase Program. We employ a structural VAR to assess silver's role in influencing overall money growth, inflation and output over the 1934-1938 period. The results suggest that the US silver purchase program was effective and highlight the potential importance of non-traditional methods for reflating modern economies in a liquidity trap. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Claremont Inst. for Economic Policy Studies Claremont, Calif. | | en_US |
| dc.relation.ispartofseries | | Working paper series // Claremont Institute for Economic Policy Studies 2005-08 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.title | | Non-traditional open market operations: lessons from FDR's silver purchase program | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 508649188 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | Claremont Colleges Working Papers in Economics, Department of Economics, Claremont McKenna College
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|