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Kompletter Metadatensatz
DublinCore-Feld | Wert | Sprache |
---|---|---|
dc.contributor.author | Burdekin, Richard C. K. | en |
dc.contributor.author | Weidenmier, Marc D. | en |
dc.date.accessioned | 2010-05-14T11:06:34Z | - |
dc.date.available | 2010-05-14T11:06:34Z | - |
dc.date.issued | 2005 | - |
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 |
dc.language.iso | eng | en |
dc.publisher | |aClaremont McKenna College, Department of Economics |cClaremont, CA | en |
dc.relation.ispartofseries | |aClaremont Colleges Working Papers |x2005-08 | en |
dc.subject.ddc | 330 | en |
dc.title | Non-traditional open market operations: lessons from FDR's silver purchase program | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 508649188 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
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