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We’re one of 12 regional Federal Reserve Banks working together with the Board of Governors to support a healthy economy. Our job is to serve the American public — to serve you. And our mission is to foster economic stability and strength.

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We promote the safety and soundness of individual financial institutions and monitor their impact on the financial system as a whole, as well as ensure financial institutions are protecting consumers.
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We conduct research to support policymaking and thought leadership on issues important to the Federal Reserve and the Fifth District. We also inform the public through our data and economic analysis, publications, presentations and educational resources.

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Working Papers

June 1974, No. 74-4

Alternate Reserve Concepts as Operating Targets in Monetary Policy Implementation: Specification of the Structural Model

Joseph M. Crews and Glenn C. Picou

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Monetary policy is concerned with the ultimate goals of price stability, full employment, and economic growth, and with the short-run stability of financial markets.

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Katrina Mullen (804) 697-8145

Working Papers

Alternate Reserve Concepts as Operating Targets in Monetary Policy Implementation: Specification of the Structural Model

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