TY  - BOOK
AU  - Morrison,George R.
TI  - Liquidity preferences of commercial banks
AV  - HG1588 .M8 1966
U1  - 332.12 
PY  - 1966///
CY  - Chicago
PB  - University of Chicago Press
KW  - Banks and banking
KW  - Liquidity (Economics)
N1  - Revision of thesis, University of Chicago; Includes bibliographical footnotes and index
N2  - The problem to which this book is addressed is the demand for excess reserves on the part of U.S. commercial banks. Morrison examines three hypotheses: the "liquidity trap" notion that the demand for money becomes perfectly elastic at sufficiently low rates of interest; the "shock" effect, which postulates a dramatic increase in desired excess reserves as the result of banking crises; and the "inertia" effect which sees bankers as being hyper suspicious of the "transitory" nature of excess reserves acquired in the aftermath of a crises
ER  -