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Cookie akzeptierenDiana Hancock
A Theory of Production for the Financial Firm
- Springer Netherlands
- 1991
- Gebunden
- 172 Seiten
- ISBN 9780792391401
Furthermore, if the effects of regulations on user costs are excluded, it is impossible to analyze monetary policy effects. Chapter 2 examines the principal areas of regulation that affect user costs. For example, reserve requirements, as administered by the Federal Reserve, act as a tax on financial firms so covered. Required reserves earn no return to the financial firm and there is foregone revenue. Deposit insurance increases the user cost of servicing deposits to the banks. Interest rate regulations place limits on interest rates on time de posits, or prohibit payments on demand deposits during part of the period studied. Underlying all these are the open
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