12. Excess reserves are frequently called idle reserves, suggesting that they are not useful. Does the episode

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12. Excess reserves are frequently called idle reserves, suggesting that they are not useful. Does the episode of the rise in reserve requirements in 1936-1937 bear out this view?

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Financial Markets and Institutions

ISBN: 978-0321280299

5th edition

Authors: Frederic S. Mishkin, Stanley G. Eakins

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