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The Euro-dollar system : practice and theory of international interest rates /

By: Contributor(s): Material type: TextTextPublication details: London : Macmillan, c1977.Edition: 6th edDescription: viii, 124 p. :illISBN:
  • 0333214013 :
Subject(s): DDC classification:
  • 332.4'5 EIN
LOC classification:
  • HG3897 .E46 1977
Summary: This book attempts to highlights the early stages of the development of the Euro-dollar system. It outlined most of the far-reaching consequences of the Euro-dollar system at a time when many thought it to be a transitory phenomenon. It also showed that the expansion of the Euro-dollar system could have only a trivial impact on the U.S. money supply, while others worried first that it could lead to a sizeable leakage of bank reserves from the United States and later, when U.S. banks became important borrowers of Euro-dollars, that it could lead to an explosive expansion of U.S. bank reserves. The author argued that Regulation Q restrictions on bank deposits in the United States were not a necessary condition for the expansion of the Euro-dollar system, at a time when many regarded them as a crucial part of the explanation for the growth of the Euro-dollar system.
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Holdings
Item type Current library Collection Call number Status Date due Barcode
Monograph & others Monograph & others CBN HQ Library General Stacks Non-fiction 332.4'5 EIN (Browse shelf(Opens below)) Available 31008100151741

Includes index.

This book attempts to highlights the early stages of the development of the Euro-dollar system. It outlined most of the far-reaching consequences of the Euro-dollar system at a time when many thought it to be a transitory phenomenon. It also showed that the expansion of the Euro-dollar system could have only a trivial impact on the U.S. money supply, while others worried first that it could lead to a sizeable leakage of bank reserves from the United States and later, when U.S. banks became important borrowers of Euro-dollars, that it could lead to an explosive expansion of U.S. bank reserves. The author argued that Regulation Q restrictions on bank deposits in the United States were not a necessary condition for the expansion of the Euro-dollar system, at a time when many regarded them as a crucial part of the explanation for the growth of the Euro-dollar system.

usc 11/06/18

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