Working Paper Review: Stability in a Model of Staggered-Reserve Accounting
In a working paper summarized here, Michael L. Bagshaw and William T. Gavin use a simple reduced-form model of the money-supply process to investigate the nature of the dynamic process implied by staggered-reserve accounting. Classical stability algorithms are used to find the range of parameters for which the model is stable.
Suggested citation: Bagshaw, Michael L., and William T. Gavin. “Working Paper Review: Stability in a Model of Staggered-Reserve Accounting,” Federal Reserve Bank of Cleveland, Economic Review, vol. 19, no. 1, pp. 23, 03.01.1983.