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The optimum quantity of central bank reserves / Jonathan Witmer.: FB3-5/2025-15E-PDF

"This paper analyzes the optimal quantity of central bank reserves in an economy where reserves and other financial assets provide liquidity benefits. Using a static model, I derive a constrained Friedman rule that characterizes the socially optimal level of reserves, demonstrating that this quantity is neither necessarily large nor small but depends on the marginal benefits of reserves relative to alternative safe assets"--Abstract, page ii.

Permanent link to this Catalogue record:
publications.gc.ca/pub?id=9.954462&sl=0

Publication information
Department/Agency
  • Bank of Canada, author.
TitleThe optimum quantity of central bank reserves / Jonathan Witmer.
Series title
  • Staff working paper = Document de travail du personnel, 1701-9397 ; 2025-15
Publication typeMonograph - View Master Record
Language[English]
FormatDigital text
Electronic document
Note(s)
  • "Last updated: May 27, 2025."
  • Includes bibliographical references (pages 17-19).
  • Includes abstract in French.
Publishing information
  • [Ottawa] : Bank of Canada = Banque du Canada, 2025.
  • ©2025
Author / Contributor
  • Witmer, Jonathan,1975- author.
Description1 online resource (iii, 26 pages) : graphs.
Catalogue number
  • FB3-5/2025-15E-PDF
Subject terms
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