Skip to main content Accessibility help
×
Hostname: page-component-8448b6f56d-c47g7 Total loading time: 0 Render date: 2024-04-24T18:04:38.267Z Has data issue: false hasContentIssue false

References

Published online by Cambridge University Press:  14 January 2021

Kenneth D. Garbade
Affiliation:
Federal Reserve Bank of New York
Get access

Summary

Image of the first page of this content. For PDF version, please use the ‘Save PDF’ preceeding this image.'
Type
Chapter
Information
After the Accord
A History of Federal Reserve Open Market Operations, the US Government Securities Market, and Treasury Debt Management from 1951 to 1979
, pp. 533 - 546
Publisher: Cambridge University Press
Print publication year: 2021

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Adams, Henry. 1887. Public Debt: An Essay in the Science of Finance. D. Appleton and Co.: New York, NY.Google Scholar
Anderson, Robert, and Martin, William McChesney. 1959. “Summary of Treasury-Federal Reserve Study.” Federal Reserve Bulletin 45, no. 8 (August): 860–81.Google Scholar
Axilrod, Stephen. 1971. “The FOMC Directive as Structured in the Late 1960s: Theory and Evidence.” In Open Market Policies and Operating Procedures: Staff Studies. Board of Governors of the Federal Reserve System: Washington, DC.Google Scholar
Baker, Charles. 1976. “Auctioning Coupon-Bearing Securities: A Review of Recent Experience.” In Bidding and Auctioning for Procurement and Allocation, edited by Amihud, Y.. New York University Press: New York, NY.Google Scholar
Baker, Charles. 1979. “The Basis and Practice of Treasury Debt Management.” In The Political Economy of Policy-Making, edited by Dooley, Michael, Kaufman, Herbert, and Lombra, Raymond. Sage Publications: Beverly Hills, CA.Google Scholar
Balles, John, Bowsher, Norman, Brandt, Harry, Crawthorne, D. R., Conkling, Gerald, Daane, J. Dewey, Dembitz, Lewis, Hellweg, Douglas, Levin, Bertram, Marsh, Spencer Jr., Miller, Seymour, Nichols, Dorothy, Willis, Parker, Anderson, Clay, and Keier, Peter. 1959. The Federal Funds Market: A Study by a Federal Reserve System Committee. Board of Governors of the Federal Reserve System: Washington, DC.Google Scholar
Banyas, Lawrence. 1973. “New Techniques in Debt Management from the Late 1950s Through 1966.” In Joint Treasury-Federal Reserve Study of the U.S. Government Securities Market, Staff Studies, Part 3. Board of Governors of the Federal Reserve System: Washington, DC.Google Scholar
Beard, Thomas. 1966. U.S. Treasury Advance Refunding: June 1960–July 1964. Board of Governors of the Federal Reserve System: Washington, DC.Google Scholar
Beckhart, Benjamin, Smith, James, and Brown, William. 1932. The New York Money Market: External and Internal Relations, vol. 4. Columbia University Press: New York, NY.CrossRefGoogle Scholar
Bierwag, G. O., and Grove, M. A.. 1971. “A Model of the Structure of Prices of Marketable U.S. Treasury Securities.” Journal of Money, Credit and Banking 3, no. 3 (August): 605–29.CrossRefGoogle Scholar
Board of Governors of the Federal Reserve System. 1943. Banking and Monetary Statistics. Board of Governors of the Federal Reserve System: Washington, DC.Google Scholar
Board of Governors of the Federal Reserve System. 1976. Banking and Monetary Statistics: 1941-1970. Board of Governors of the Federal Reserve System: Washington, DC.Google Scholar
Board of Governors of the Federal Reserve System. 1981. Annual Statistical Digest: 1970-1979. Board of Governors of the Federal Reserve System: Washington, DC.Google Scholar
Board of Governors of the Federal Reserve System. 2018. Financial Accounting Manual for Federal Reserve Banks. Board of Governors of the Federal Reserve System: Washington, DC.Google Scholar
Board of Governors of the Federal Reserve System, Division of Federal Reserve Bank Operations. 1962. Accounting Manual for Use of Federal Reserve Bank in Preparing Certain Reports to the Board of Governors. Board of Governors of the Federal Reserve System: Washington, DC.Google Scholar
Bordo, Michael, and Eichengreen, Barry. 2013. “Bretton Woods and the Great Inflation.” In The Great Inflation: The Rebirth of Modern Central Banking, edited by Bordo, Michael and Orphanides, Athanasios. University of Chicago Press: Chicago, IL.CrossRefGoogle Scholar
Bordo, Michael, Humpage, Owen, and Schwartz, Anna. 2015. Strained Relations: US Foreign-Exchange Operations and Monetary Policy in the Twentieth Century. University of Chicago Press: Chicago, IL.CrossRefGoogle Scholar
Bremner, Robert. 2004. Chairman of the Fed: William McChesney Martin Jr. and the Creation of the Modern American Financial System. Yale University Press: New Haven, CT.CrossRefGoogle Scholar
Brunner, Karl, and Meltzer, Allan. 1964. The Federal Reserve’s Attachment to the Free Reserve Concept. Subcommittee Print, Committee on Banking and Currency, Subcommittee on Domestic Finance, U.S. House of Representatives, 88th Congress, 2nd Session, May 7.Google Scholar
Bryan, William. 1972. “Treasury Advance Refunding: An Empirical Investigation.” Journal of Financial and Quantitative Analysis 7, no. 5 (December): 2139–50.CrossRefGoogle Scholar
Bureau of the Public Debt. 1982. An Analysis of Full Book Entry for Treasury Notes and Bonds, Part I: The Elimination of Bearer Securities. U.S. Department of the Treasury: Washington, DC.Google Scholar
Bureau of the Public Debt. 1983. An Analysis of Full Book Entry for Treasury Notes and Bonds, Part II: The Replacement of Registered Securities. U.S Department of the Treasury: Washington, DC.Google Scholar
Bureau of the Public Debt. 1984. “Treasury/Federal Reserve Responsibility for the Commercial Book-Entry System.” Unpublished paper, U.S. Department of the Treasury.Google Scholar
Burger, Albert. 1969. “A Historical Analysis of the Credit Crunch of 1966.” Federal Reserve Bank of St. Louis Review 51 (September): 13–30.CrossRefGoogle Scholar
Burgess, W. Randolph. 1936. The Reserve Banks and the Money Market. Revised edition. Harper & Brothers: New York, NY.Google Scholar
Carr, Hobart. 1952. “Federal Funds.” In Money Market Essays. Federal Reserve Bank of New York: New York, NY.Google Scholar
Carr, Hobart. 1954. “The Treasury and the Money Market.” In The Treasury and the Money Market. Federal Reserve Bank of New York: New York, NY.Google Scholar
Carr, Hobart. 1959. “Why and How to Read the Federal Reserve Statement.” Journal of Finance 14, no. 4 (December): 504–19.CrossRefGoogle Scholar
Carson, Deane. 1955. “Recent Open Market Committee Policy and Technique.” Quarterly Journal of Economics 69, no. 3 (August): 321–42.CrossRefGoogle Scholar
Carson, Deane. 1959. “Treasury Open Market Operations.” Review of Economics and Statistics 41, no. 4 (November): 438–42.CrossRefGoogle Scholar
Cecchetti, Stephen. 1988. “The Case of Negative Nominal Interest Rates: New Estimates of the Term Structure of Interest Rates during the Great Depression.” Journal of Political Economy 96, no. 6 (December): 1111–41.CrossRefGoogle Scholar
Chandler, Lester. 1958. Benjamin Strong, Central Banker. The Brookings Institution: Washington, DC.Google Scholar
Chari, V., and Weber, Robert. 1992. “How the U.S. Treasury Should Auction its Debt.” Federal Reserve Bank of Minneapolis. Quarterly Review 16, no 4 (Fall): 312.CrossRefGoogle Scholar
Childs, C. F. 1947. Concerning U.S. Government Securities. C. F. Childs: Chicago, IL.Google Scholar
Clouse, James, Henderson, Dale, Orphanides, Athanasios, Small, David, and Tinsley, Peter. 2003. “Monetary Policy When the Nominal Short-Term Interest Rate is Zero.” Topics in Macroeconomics 3, no. 1: 1088.CrossRefGoogle Scholar
Committee of Conference. 1935. “Banking Act of 1935.” Report No. 1822, U.S. House of Representatives, 74th Cong., 1st Sess., August 17.Google Scholar
Committee on Banking and Currency. 1935. “Banking Act of 1935.” Report No. 742, U.S. House of Representatives, 74th Congress, 1st Session, April 19.Google Scholar
Committee on Banking and Currency. 1935. “Banking Act of 1935.” Hearings before a Subcommittee of the Committee on Banking and Currency on S. 1715 and H.R. 7617, U.S. Senate, 74th Cong., 1st Sess., April 19 to June 3.Google Scholar
Committee on Banking and Currency. 1947. “Direct Purchases of Government Securities by Federal Reserve Banks.” Hearing before the Committee on Banking and Currency, U.S. House of Representatives, 80th Cong., 1st Sess., March 35.Google Scholar
Committee on Banking and Currency. 1960. “Federal Reserve Direct Purchases – Old Series Currency Adjustment Act.” Hearing before the Committee on Banking and Currency on S. 3702 and S. 3714, U.S. House of Representatives, 86th Cong., 2nd Sess., June 24.Google Scholar
Committee on Banking and Currency. 1963. “Investigation of the Circumstances Surrounding the Disappearance of $7.5 Million of U.S. Government Securities from the Vault of the Federal Reserve Bank of San Francisco, California.” Hearing before a Special Subcommittee of the Committee on Banking and Currency, U.S. House of Representatives, 88th Cong., 1st Sess., April 22.Google Scholar
Committee on Banking and Currency. 1963. “The Mysterious Disappearance of $7.5 Million of U.S. Securities from Vault of the Federal Reserve Bank at San Francisco, California.” Report no. 354, U.S. House of Representatives, 88th Cong., 1st Sess., May 29.Google Scholar
Committee on Banking and Currency. 1966. “Regulation of Maximum Rates of Interest Paid on Savings.” Report no. 1601, U.S. Senate, 89th Cong., 2nd Sess., September 14.Google Scholar
Committee on Banking, Finance, and Urban Affairs. 1982. “Problems Associated with Federal Debt Management.” Hearings before the Subcommittee on Domestic Monetary Policy of the Committee on Banking, Finance, and Urban Affairs. U.S. House of Representatives, 97th Cong., 2nd Sess., March 2324.Google Scholar
Committee on Banking, Finance and Urban Affairs. 1983. “Impact on Money and Credit Policy of Federal Debt Management.” Hearing before the Subcommittee on Domestic Monetary Policy of the Committee on Banking, Finance and Urban Affairs. U.S. House of Representatives, 98th Cong., 1st Sess., April 25.Google Scholar
Committee on Banking, Finance and Urban Affairs. 1984. “An Examination of the Sufficiency of Capital Adequacy Guidelines for Government Security Dealers Proposed by the Federal Reserve Bank of New York.” Hearing before the Subcommittee on Domestic Monetary Policy of the Committee on Banking, Finance and Urban Affairs. U.S. House of Representatives, 98th Cong., 2nd Sess., May 31.Google Scholar
Committee on Banking, Housing, and Urban Affairs. 1982. “Disturbances in the U.S. Securities Market.” Hearing before the Subcommittee on Securities of the Committee on Banking, Housing, and Urban Affairs. U.S. Senate, 97th Cong., 2nd Sess., May 25.Google Scholar
Committee on Banking, Housing, and Urban Affairs. 1985. “Regulation of Government Securities.” Hearing before the Subcommittee on Securities of the Committee on Banking, Housing, and Urban Affairs. U.S. Senate, 99th Cong., 1st Sess., May 9.Google Scholar
Committee on Banking, Housing, and Urban Affairs. 1991. “The Activities of Salomon Brothers, Inc. in Treasury Auctions.” Hearings before the Subcommittee on Securities of the Committee on Banking, Housing, and Urban Affairs. U.S. House of Representatives. 102nd Cong., 1st Sess., September 11–12.Google Scholar
Committee on Energy and Commerce. 1991. “Salomon Brothers and Government Securities.” Hearing before the Subcommittee on Telecommunications and Finance of the Committee on Energy and Commerce. U.S. House of Representatives, 102nd Cong., 1st Sess., September 4.Google Scholar
Committee on Government Operations. 1985. “Ohio Savings and Loan Crisis and Collapse of ESM Government Securities, Inc.” Hearing before a subcommittee of the Committee on Government Operations. U.S. House of Representatives, 99th Cong., 1st Sess., April 3.Google Scholar
Committee on Government Operations. 1985. “Failure of Bevill, Bresler & Schulman, A New Jersey Government Securities Dealer.” Hearing before a subcommittee of the Committee on Government Operations. U.S. House of Representatives, 99th Cong., 1st Sess., May 15.Google Scholar
Committee on the Judiciary. 1942. “Second War Powers Act, 1942.” Hearings before the Committee on the Judiciary. U.S. House of Representatives, 77th Cong., 2nd Sess., January 30 and February 2.Google Scholar
Committee on Ways and Means. 1975. “Public Debt Ceiling.” Hearings before the Committee on Ways and Means. U.S. House of Representatives. 94th Cong., 1st Sess., June 2–3.Google Scholar
Committee on Ways and Means. 1991. “Review of Violations in the Marketing of Government Securities.” Hearing before the Subcommittee on Oversight of the Committee on Ways and Means. U.S. House of Representative, 102nd Cong., 1st Sess., September 26.Google Scholar
Comptroller General of the United States. 1971. Improvements Needed in the Federal Reserve Reporting System for Recognized Dealers in Government Securities. B-169905.Google Scholar
Conway, Ed. 2014. The Summit. Little, Brown: London, England.Google Scholar
Cooke, Helen. 1954. “Managing the Treasury’s Cash Balances.” In The Treasury and the Money Market. Federal Reserve Bank of New York: New York, NY.Google Scholar
Cooke, Helen, and Straus, Kathleen. 1954. “Treasury Tax and Loan Accounts at Commercial Banks.” In The Treasury and the Money Market. Federal Reserve Bank of New York: New York, NY.Google Scholar
Coombs, Charles. 1976. The Arena of International Finance. John Wiley & Sons: New York, NY.Google Scholar
Cooper, Robert. 1967. “Techniques of the Federal Reserve Trading Desk in the 1960’s Contrasted with the ‘Bills Preferably’ Period.” Staff study prepared for the Treasury-Federal Reserve Study of the U.S. Government Securities Market. March 28.Google Scholar
Cox, Albert. 1967. “Regulation of Interest on Deposits: An Historical Review.” Journal of Finance 22, no. 2 (May): 274–96.CrossRefGoogle Scholar
Culbertson, John. 1957. “The Term Structure of Interest Rates.” Quarterly Journal of Economics 71, no. 4 (November): 485517.CrossRefGoogle Scholar
Davis, Andrew. 1910. The Origin of the National Banking System. National Monetary Commission. Senate Document 582, U.S. Senate, 61st Cong. 2nd Sess.Google Scholar
Davis, Felix. 1966. “Automating Government Securities Market Operations.” Unpublished paper, Federal Reserve Bank of New York. December.Google Scholar
Davis, Felix, and Hoey, Matthew. 1973. “Automating Operations in the Government Securities Market.” In Joint Treasury-Federal Reserve Study of the U.S. Government Securities Market, Staff Studies: Part 3. Board of Governors of the Federal Reserve System: Washington, DC.Google Scholar
Debs, Richard. 1972. “The Program for the Automation of the Government Securities Market.” Federal Reserve Bank of New York Monthly Review 54, no. 7 (July): 178–82.Google Scholar
Debs, Richard, and Guy, Edward. 1965. “The Legal Bases of Proposals for a Book-Entry Procedure in Lieu of the Safekeeping of Government Securities.” Unpublished paper, Federal Reserve Bank of New York. May 21.Google Scholar
Department of the Treasury. 1974. Report on a Study of Tax and Loan Accounts.Google Scholar
Department of the Treasury, Securities and Exchange Commission, and Board of Governors of the Federal Reserve System. 1990. Study of the Effectiveness of the Implementation of the Government Securities Act of 1986.Google Scholar
Department of the Treasury, Securities and Exchange Commission, and Board of Governors of the Federal Reserve System. 1992. Joint Report on the Government Securities Market.Google Scholar
de Vries, Margaret. 1969a. “The Par Value System: An Overview.” In The International Monetary Fund 1945-1965, Volume II: Analysis, edited by Keith Horsefield, J.. International Monetary Fund: Washington, DC.Google Scholar
de Vries, Margaret. 1969b. “Setting Par Values.” In The International Monetary Fund 1945-1965, Volume II: Analysis, edited by Keith Horsefield, J.. International Monetary Fund: Washington, DC.Google Scholar
de Vries, Margaret. 1969c. “Exchange Rate Adjustment.” In The International Monetary Fund 1945-1965, Volume II: Analysis, edited by Keith Horsefield, J., ed. International Monetary Fund: Washington, DC.Google Scholar
Fand, David, and Scott, Ira. 1958. “The Federal Reserve System’s ‘Bills Only’ Policy: A Suggested Interpretation.” Journal of Business 31, no. 1 (January): 1218.CrossRefGoogle Scholar
Federal Open Market Committee. 1952. Federal Open Market Committee Report of Ad Hoc Subcommittee on the Government Securities Market. Reprinted in Joint Committee on the Economic Report. 1954. “United States Monetary Policy: Recent Thinking and Experience.” Hearings before the Subcommittee on Economic Stabilization of the Joint Committee on the Economic Report. Congress of the United States, 83rd Cong., 2nd Sess., December 6 and 7, 257–307.Google Scholar
Federal Reserve Bank of New York. 1940. The Place of the Dealer in the Government Security Market. Unpublished study. May 20.Google Scholar
Federal Reserve Bank of New York. 1952. Federal Reserve Open Market Operations. Unpublished study. August 8.Google Scholar
Federal Reserve Bank of New York. 1958. Speculation in the United States Government Securities Market. Unpublished study. September 10.Google Scholar
Federal Reserve Bank of New York. 1958. “The Significance and Limitations of Free Reserves.” Federal Reserve Bank of New York Monthly Review 40, no. 11 (November): 162–67.Google Scholar
Federal Reserve Bank of New York. 1959. A Proposed Program for the Collection of Statistics on the United States Government Securities Market. Unpublished study. November 18.Google Scholar
Federal Reserve Bank of New York. 1962. “Possibilities for Lending System Owned Securities to Dealers.” Unpublished paper. February 21.Google Scholar
Federal Reserve Bank of New York. 1964. “The Financing of Government Securities Dealers.” Federal Reserve Bank of New York Monthly Review 46, no. 6 (June): 107–16.Google Scholar
Federal Reserve Bank of New York. 1965. “A Proposal for Reducing the Volume of Securities Deliveries in Connection with Government Bond Dealer Operations.” Unpublished paper. February.Google Scholar
Federal Reserve Bank of New York. 1967. “Proposal for System Lending of Government Securities.” Unpublished paper. April 19.Google Scholar
Federal Reserve Bank of New York. 1972. “Just Call Me Sigma: My Friends Do.” The Fed (March).Google Scholar
Federal Reserve Bank of New York. 1972. “Just Call Me Sigma: My Friends Do.” The Fed (April).Google Scholar
Federal Reserve Bank of New York. 1982. A Report on Drysdale and Other Recent Problems of Firms Involved in the Government Securities Market. Unpublished paper. September 15.Google Scholar
Federal Reserve Bank of New York. 1984. “The Sigma Saga.” The Fed (April).Google Scholar
Federal Reserve Bank of Richmond. 1960. “Federal Reserve Wire Transfer Service.” Federal Reserve Bank of Richmond Monthly Review (February).Google Scholar
Federal Reserve System. 1975. The Culpepper Switch. Federal Reserve Bank of Richmond: Richmond, VA.Google Scholar
Feinman, Joshua. 1993. “Reserve Requirements: History, Current Practice, and Potential Reform.” Federal Reserve Bulletin 79, no. 6 (June): 569–89.Google Scholar
Fisher, Irving. 1930. The Theory of Interest. Macmillan: New York, NY.Google Scholar
Fleming, Michael, and Garbade, Kenneth. 2003. “The Repurchase Agreement Refined: GCF Repo.” Federal Reserve Bank of New York Current Issues in Economics and Finance 9, no. 6 (June).Google Scholar
Fleming, Michael, and Garbade, Kenneth. 2007. “Dealer Behavior in the Specials Market for U.S. Treasury Securities.” Journal of Financial Intermediation 16 (April): 204–28.CrossRefGoogle Scholar
Friedman, Milton. 1960. A Program for Monetary Stability. Fordham University Press: New York, NY.Google Scholar
Friedman, Milton, and Schwartz, Anna. 1963. A Monetary History of the United States: 1867-1960. Princeton University Press: Princeton, NJ.Google Scholar
Gaines, Tilford. 1962. Techniques of Treasury Debt Management. Graduate School of Business, Columbia University/Free Press of Glencoe: New York, NY.Google Scholar
Garbade, Kenneth. 1978. “The Effect of Interdealer Brokerage on the Transactional Characteristics of Dealer Markets.” Journal of Business 51, no. 3 (July): 477–98.Google Scholar
Garbade, Kenneth. 1978. “Electronic Quotation Systems and the Market for Government Securities.” Federal Reserve Bank of New York Quarterly Review 3, no. 2 (Summer): 1320.Google Scholar
Garbade, Kenneth. 2006. “The Evolution of Repo Contracting Conventions in the 1980s.” Federal Reserve Bank of New York Economic Policy Review 12, no. 1 (May): 2742.Google Scholar
Garbade, Kenneth. 2007. “The Emergence of ‘Regular and Predictable’ as a Treasury Debt Management Strategy.” Federal Reserve Bank of New York Economic Policy Review 13, no. 1 (March): 5371.Google Scholar
Garbade, Kenneth. 2012. Birth of a Market: The U.S. Treasury Securities Market from the Great War to the Great Depression. MIT Press: Cambridge, MA.CrossRefGoogle Scholar
Garbade, Kenneth. 2014. “Direct Purchases of U.S. Treasury Securities by Federal Reserve Banks.” Federal Reserve Bank of New York Staff Report no. 684. August.CrossRefGoogle Scholar
Garbade, Kenneth. 2015. Treasury Debt Management under the Rubric of Regular and Predictable Issuance: 1983-2012. Federal Reserve Bank of New York: New York, NY.Google Scholar
Garbade, Kenneth. 2016. “The First Debt Ceiling Crisis.” Federal Reserve Bank of New York Staff Report no. 783. June.Google Scholar
Garbade, Kenneth. 2017. “Beyond Thirty: Treasury Issuance of Long-Term Bonds from 1953 to 1965.” Federal Reserve Bank of New York Staff Report no. 806. January.Google Scholar
Garbade, Kenneth, and Ingber, Jeffrey. 2005. “The Treasury Auction Process: Objectives, Structure, and Recent Adaptations.” Federal Reserve Bank of New York Current Issues in Economics and Finance 11, no. 2 (February).Google Scholar
Garbade, Kenneth, and Keane, Frank. 2017. “The Treasury Market Practices Group: Creation and Early Initiatives.” Federal Reserve Bank of New York Staff Report no. 822. August.Google Scholar
Garbade, Kenneth, Keane, Frank, Logan, Lorie, Stokes, Amanda, and Wolgemuth, Jennifer. 2010. “The Introduction of the TMPG Fails Charge for U.S. Treasury Securities.” Federal Reserve Bank of New York Economic Policy Review 16, no. 2 (October): 4571.Google Scholar
General Accounting Office. 1987. U.S. Government Securities: An Examination of Views Expressed About Access to Brokers’ Services. GAO/GGD-88-8. December.Google Scholar
General Accounting Office. 1990. U.S. Government Securities: More Transaction Information and Investor Protection Needed. GAO/GGD-90-114.Google Scholar
Gilbert, R. Alton. 1986. “Requiem for Regulation Q: What It Did and Why It Passed Away.” Federal Reserve Bank of St. Louis Review (February): 2237.CrossRefGoogle Scholar
Glass, Carter. 1927. An Adventure in Constructive Finance. Doubleday, Page: Garden City, NY.Google Scholar
Goldenweiser, E. A., Edmiston, Henry, Langum, John, and Sienkiewicz, C. A.. 1943. Dealers in the Government Security Market. Unpublished report, Federal Open Market Committee. April 6.Google Scholar
Goodfriend, Marvin. 1983. “Discount Window Borrowing, Monetary Policy, and the Post-October 6, 1979, Federal Reserve Operating Procedure.” Journal of Monetary Economics 12, no. 3 (September): 343–56.CrossRefGoogle Scholar
Goodfriend, Marvin, and Hargraves, Monica. 1983. “A Historical Assessment of the Rationales and Functions of Reserve Requirements.” Federal Reserve Bank of Richmond Economic Review 69, no. 2 (March/April): 321.Google Scholar
Greenwood, Robin, Hanson, Samuel, Rudolph, Joshua, and Summers, Lawrence. 2014. “Government Debt Management at the Zero Lower Bound.” Hutchins Center on Fiscal & Monetary Policy at Brookings, Working Paper #5. September 30.Google Scholar
Guttentag, Jack. 1966. “The Strategy of Open Market Operations.” Quarterly Journal of Economics 80, no. 1 (February): 130.CrossRefGoogle Scholar
Haltom, Renee, and Sharp, Robert. 2014. “The First Time the Fed Bought GSE Debt.” Federal Reserve Bank of Richmond Economic Brief. April.Google Scholar
Hamburger, Michael, and Silber, William. 1971. “Debt Management and Interest Rates: A Re-Examination of the Evidence.” Manchester School of Economic and Social Studies 39, no. 4 (December): 26167.CrossRefGoogle Scholar
Hamdani, Kausar, and Peristiani, Stavros. 1991. “A Disaggregate Analysis of Discount Window Borrowing.” Federal Reserve Bank of New York Quarterly Review 16, no. 2 (Summer): 5262.Google Scholar
Hetzel, Robert, and Leach, Ralph. 2001. “The Treasury-Fed Accord: A New Narrative Account.” Federal Reserve Bank of Richmond Economic Quarterly 87, no. 1 (Winter): 3355.Google Scholar
Hicks, John. 1939. Value and Capital. Oxford University Press: Oxford, England.Google Scholar
Hoey, Matthew, and Rassnick, Leopold. 1976. “Automation of Government Securities Operations.” Jurimetrics 17, no. 2 (Winter): 176–85.Google Scholar
Hoey, Matthew, and Vollkommer, Richard. 1971. “Development of a Clearing Arrangement and Book-Entry Custody Procedure for U.S. Government Securities.” Magazine of Bank Administration 47, no. 2 (June): 2129.Google Scholar
Holmes, Alan. 1970. “A Day at the Trading Desk.” Federal Reserve Bank of New York Monthly Review 52, no. 10 (October): 234–38.Google Scholar
Humpage, Owen, and Mukherjee, Sanchita. 2013. “Even Keel and the Great Inflation.” Federal Reserve Bank of Cleveland Working Paper no. 13–15. October.CrossRefGoogle Scholar
Ingber, Jeffrey. 2003. “Gets Complicated Fast: A Review of the GCF Repo Service.” The RMA Journal (May): 46–51.Google Scholar
Ingber, Jeffrey. 2005. “A Decade of Repo Netting.” Legalworks 26, no. 2 (February): 312.Google Scholar
Ingber, Jeffrey. 2017. “The Development of the Government Securities Clearing Corporation.” Federal Reserve Bank of New York Economic Policy Review 23, no. 2 (December): 3350.Google Scholar
Jarecki, Henry. 1976. “Bullion Dealing, Commodity Exchange Trading, and the London Gold Fixing: Three Forms of Commodity Auctions.” In Bidding and Auctioning for Procurement and Allocation, edited by Amihud, Yakov. New York University Press: New York, NY.Google Scholar
Jegadeesh, Narasimhan. 1993. “Treasury Auction Bids and the Salomon Squeeze.” Journal of Finance 48, no. 4 (September): 1403–19.CrossRefGoogle Scholar
Joint Committee on the Economic Report. 1954. “United States Monetary Policy: Recent Thinking and Experience.” Hearings before the Subcommittee on Economic Stabilization of the Joint Committee on the Economic Report. U.S. Congress, 83rd Cong., 2nd Sess., December 6–7.Google Scholar
Joint Economic Committee. 1959. “Employment, Growth, and Price Levels.” Hearings before the Joint Economic Committee. Part 6A: The Government’s Management of its Monetary, Fiscal, and Debt Operations. Congress of the United States, 86th Cong., 1st Sess., July 24 and 27–30.Google Scholar
Joint Economic Committee. 1959. “Employment, Growth, and Price Levels.” Hearings before the Joint Economic Committee. Part 6B: The Government’s Management of its Monetary, Fiscal, and Debt Operations. Congress of the United States, 86th Cong., 1st Sess., August 5–7.Google Scholar
Joint Economic Committee. 1959. “Employment, Growth, and Price Levels.” Hearings before the Joint Economic Committee. Part 6C: The Government’s Management of its Monetary, Fiscal, and Debt Operations. Answers to Question on Monetary Policy and Debt Management. Congress of the United States, 86th Cong., 1st Sess.Google Scholar
Joint Economic Committee. 1959. “Employment, Growth, and Price Levels.” Hearings before the Joint Economic Committee. Part 9A: Constructive Suggestions for Reconciling and Simultaneously Obtaining Three Objectives of Maximum Employment, An Adequate Rate of Growth, and Substantial Stability of the Price Level. Congress of the United States, 86th Cong., 1st Sess.Google Scholar
Jordan, Bradford, and Jordan, Susan. 1996. “Salomon Brothers and the May 1991 Treasury Auction: Analysis of a Market Corner.” Journal of Banking and Finance 20, no. 1 (January): 2540.CrossRefGoogle Scholar
Kaufman, Henry. 1973. “Federal Debt Management: An Economist’s View from the Marketplace.” In Issues in Federal Debt Management. Federal Reserve Bank of Boston: Boston, MA.Google Scholar
Kreps, Clifton. 1952a. “The Commercial Paper Market.” In Money Market Essays. Federal Reserve Bank of New York: New York, NY.Google Scholar
Kreps, Clifton. 1952b. “Bankers’ Acceptances.” In Money Market Essays. Federal Reserve Bank of New York: New York, NY.Google Scholar
Lang, Richard. 1979. “TTL Note Accounts and the Money Supply Process.” Federal Reserve Bank of St. Louis Review (October): 3–14.CrossRefGoogle Scholar
Linke, Charles. 1966. “The Evolution of Interest Rate Regulation on Commercial Bank Deposits in the United States.” National Banking Review 3 (June): 449–69.Google Scholar
Lombra, Raymond, and Torto, Raymond. 1975. “The Strategy of Monetary Policy.” Federal Reserve Bank of Richmond Economic Review 61 (September/October): 314.Google Scholar
Lovett, Joan. 1978. “Treasury Tax and Loan Accounts and Federal Reserve Open Market Operations.” Federal Reserve Bank of New York Quarterly Review 3, no. 2 (Summer): 4146.Google Scholar
Luckett, Dudley. 1960. “‘Bills Only’: A Critical Appraisal.” Review of Economics and Statistics 42, no. 3 (August): 301–6.CrossRefGoogle Scholar
Lutz, F. A. 1940. “The Structure of Interest Rates.” Quarterly Journal of Economics 55, no. 1 (November): 3663.CrossRefGoogle Scholar
Madigan, Brian, and Trepeta, Warren. 1986. “Implementation of U.S. Monetary Policy.” In Changes in Money-Market Instruments and Procedures: Objectives and Implications. Bank for International Settlements, Monetary and Economic Department: Basle, Switzerland.Google Scholar
Maggin, Donald. 1989. Bankers, Builders, Knaves, and Thieves. Contemporary Books: Chicago, IL.Google Scholar
Malvey, Paul, and Archibald, Christine. 1998. Uniform-Price Auctions: Update of the Treasury Experience. U.S. Treasury, Office of Market Finance.Google Scholar
Malvey, Paul, Archibald, Christine, and Flynn, Sean. 1995. Uniform-Price Auctions: Evaluations of the Treasury Experience. U.S. Treasury, Office of Market Finance.Google Scholar
Manypenny, Gerald. 1986. “Book-Entry U.S. Government Securities: Evolution and Effect.” Unpublished paper, Stonier Graduate School of Banking.Google Scholar
Markese, John. 1971. The ‘Even-Keel’ Policy of the Federal Reserve System. PhD dissertation, University of Illinois at Urbana-Champaign.Google Scholar
McWhinney, Madeline. 1952. “Member Bank Borrowing from the Federal Reserve Banks.” In Money Market Essays. Federal Reserve Bank of New York: New York, NY.Google Scholar
Meek, Paul. 1963. Open Market Operations. Federal Reserve Bank of New York: New York, NY.Google Scholar
Meek, Paul, and Thunberg, Rudolph. 1971. “Monetary Aggregates and Federal Reserve Open Market Operations.” Federal Reserve Bank of New York Monthly Review 53, no. 4 (April): 8089.Google Scholar
Meigs, James. 1962. Free Reserves and the Money Supply. University of Chicago Press: Chicago, IL.Google Scholar
Meltzer, Allan. 2003. A History of the Federal Reserve, vol. I: 1913-1951. University of Chicago Press: Chicago, IL.Google Scholar
Meltzer, Allan. 2009. A History of the Federal Reserve, vol. II: 1951-1969. University of Chicago Press: Chicago, IL.CrossRefGoogle Scholar
Meltzer, Allan, and von der Linde, Gert. 1960. A Study of the Dealer Market for Federal Government Securities. Joint Economic Committee Print, 86th Cong., 2nd Sess.Google Scholar
Meulendyke, Ann-Marie. 1998. U.S. Monetary Policy & Financial Markets. Federal Reserve Bank of New York: New York, NY.Google Scholar
Miller, Adolph. 1921. “Federal Reserve Policy.” American Economic Review 11, no. 2 (June): 177206.Google Scholar
Modigliani, Franco, and Sutch, Richard. 1966. “Innovations in Interest Rate Policy.” American Economic Review 56, no. 2 (May): 178–97.Google Scholar
Modigliani, Franco, and Sutch, Richard. 1967. “Debt Management and the Term Structure of Interest Rates: An Empirical Analysis of Recent Experience.” Journal of Political Economy 75, no. 4, part 2 (August): 569–89.CrossRefGoogle Scholar
Morrison, Alan, and Wilhelm, William Jr. 2007. Investment Banking: Institutions, Politics, and Law. Oxford University Press: Oxford, England.CrossRefGoogle Scholar
Morse, Jarvis. 1971. Paying for a World War. Unpublished study, U.S. Department of the Treasury.Google Scholar
Murphy, Henry. 1950. The National Debt in War and Transition. McGraw-Hill: New York, NY.Google Scholar
Patterson, Robert. 1954. Federal Debt Management Policies, 1865-1879. Duke University Press: Durham, NC.Google Scholar
Peristiani, Stavros. 1991. “The Model Structure of Discount Window Borrowing.” Journal of Money, Credit and Banking 23, no. 1 (February): 1334.CrossRefGoogle Scholar
Peskin, Janice. 1967. Federal Agency Debt and its Secondary Market. Unpublished staff study, Joint Treasury-Federal Reserve Study of the U.S. Government Securities Mark. November 14.Google Scholar
Peskin, Janice. 1971. “Federal Agency Debt and its Secondary Market.” In Joint Treasury-Federal Reserve Study of the U.S. Government Securities Market, Staff Studies: Part 2. December.Google Scholar
Porter, Sylvia. 1938. “Gambling in Governments.” Scribner’s Magazine (December): 43–46.Google Scholar
Rassnick, Leopold. 1971. “Certificateless Deposits and Transfers of Securities in the Federal Reserve System.” Business Lawyer 26, no. 3 (January): 611–15.Google Scholar
Reed, Harold. 1922. The Development of Federal Reserve Policy. Houghton Mifflin: Boston, MA.Google Scholar
Riefler, Winfield. 1930. Money Rates and Money Markets in the United States. Harper & Brothers: New York, NY.Google Scholar
Riefler, Winfield. 1958. “Open Market Operations in Long-Term Securities.” Federal Reserve Bulletin 44, no. 11 (November): 1260–74.Google Scholar
Ringsmuth, Don, and Rice, Gary. 1984. “Federal Reserve Bank Involvement with Government Securities.” Unpublished paper, Federal Reserve Bank of New York. March 8.Google Scholar
Ritter, Lawrence, and Silber, William. 1974. Principles of Money, Banking, and Financial Markets. Basic Books: New York, NY.Google Scholar
Roelse, Harold. 1952. “The Money Market.” In Money Market Essays. Federal Reserve Bank of New York, New York, NY.Google Scholar
Roosa, Robert. 1952. “Integrating Debt Management and Open Market Operations.” American Economic Review 42, no. 2 (May): 214–35.Google Scholar
Roosa, Robert. 1952. “Monetary Policy Again.” Bulletin of the Oxford University Institute of Statistics 14, no. 8 (August): 253–61.CrossRefGoogle Scholar
Roosa, Robert. 1956. Federal Reserve Operations in the Money and Government Securities Markets. Federal Reserve Bank of New York: New York, NY.Google Scholar
Rouse, Robert. 1952. Some Current Aspects of the Federal Reserve System and the Government Securities Market. Lecture at the School of Banking at the University of Wisconsin, April 29.Google Scholar
Ruebling, Charlotte. 1970. “The Administration of Regulation Q.” Federal Reserve Bank of St. Louis Review (February): 29–40.Google Scholar
Sack, Brian, and Elsasser, Robert. 2004. “Treasury Inflation-Indexed Debt: A Review of the U.S. Experience.” Federal Reserve Bank of New York Economic Policy Review 10, no. 1 (May): 4763.Google Scholar
Samuel, Lawrence. 1997. Pledging Allegiance: American Identity and the Bond Drive of World War II. Smithsonian Institution Press: Washington, DC.Google Scholar
Scott, Robert. 1965. “Liquidity and the Term Structure of Interest Rates.” Quarterly Journal of Economics 79, No. 1 (February): 135–45.CrossRefGoogle Scholar
Securities and Exchange Commission. 1985. Regulation of the Government Securities Market. In “Regulation and Supervision of the Government Securities Market.” Hearing before the Subcommittee on Domestic Monetary Policy of the Committee on Banking, Finance and Urban Affairs, U.S. House of Representatives, 99th Cong., 1st Sess., July 9, 1985, pp. 338–380.Google Scholar
Shulimson, Jack. 1966. Marines in Lebanon, 1958. Unpublished paper, Headquarters, U.S. Marine Corps, Historical Branch, G-3 Division: Washington, DC.Google Scholar
Silber, William. 2012. Volcker: The Triumph of Persistence. Bloomsbury Press: New York, NY.Google Scholar
Simon, David. 1994. “The Treasury’s Experiment with Single-Price Auctions in the mid-1970s: Winner’s Curse or Taxpayer’s Curse?Review of Economics and Statistics 76, No. 4 (November): 754–60.CrossRefGoogle Scholar
Smith, George. 1956. The Federal Reserve Leased Wire System: Its Origins, Purposes, and Functions. Unpublished study. Federal Reserve Bank of New York.Google Scholar
Sobel, Robert. 1986. Salomon Brothers 1910-1985: Advancing to Leadership. Salomon Brothers: New York, NY.Google Scholar
Solomon, Robert. 1982. The International Monetary System, 1945-1981. Harper & Row: New York, NY.Google Scholar
Sproul, Allan. 1964. “The ‘Accord’ – A Landmark in the First Fifty Years of the Federal Reserve System.” Federal Reserve Bank of New York Monthly Review 46, no. 11 (November): 227–36.Google Scholar
Steil, Benn. 2013. The Battle of Bretton Woods. Princeton University Press, Princeton, NJ.CrossRefGoogle Scholar
Stigum, Marcia. 1983. The Money Market. Rev. ed. Dow Jones-Irwin: Homewood, IL.Google Scholar
Struble, Frederick, and Axilrod, Stephen. 1973. “Even Keel Revisited.” In Issues in Federal Debt Management. Federal Reserve Bank of Boston: Boston, MA.Google Scholar
Subcommittee of Counsel on Fiscal Agency Operations of the Committee on Fiscal Agency Operations of the Conference of Presidents. 1965. “Book-Entry Procedure for Government Securities.” Unpublished paper. August 11.Google Scholar
Subcommittee on Fiscal Agency Operations of the Committee on Fiscal Agency Operations of the Conference of Presidents. 1963. “Book-Entry Procedure for Safekeeping of Government Securities.” Unpublished paper. August.Google Scholar
Swanson, Eric. 2011. “Let’s Twist Again: A High-Frequency Event-Study Analysis of Operation Twist and Its Implications for QE2.” Brookings Papers on Economic Activity 42, no. 1 (Spring): 151207.CrossRefGoogle Scholar
Taus, Esther. 1943. Central Banking Functions of the United States Treasury, 1789-1941. Columbia University Press: New York, NY.Google Scholar
Thomas, Woodlief. 1951. “Lessons of War Finance.” American Economic Review 41, no. 4 (September): 618–31.Google Scholar
Thomas, Woodlief, and Young, Ralph. 1947. “Problems of Post-War Monetary Policy.” In Postwar Economic Studies no. 8: Federal Reserve Policy. Board of Governors of the Federal Reserve System: Washington, DC.Google Scholar
Timberlake, Richard. 1978. The Origins of Central Banking in the United States. Harvard University Press: Cambridge, MA.Google Scholar
Tsao, Che, and Vignola, Anthony. 1977. “Price Discrimination and the Demand for Treasury’s Long-Term Securities.” Unpublished paper, U.S. Department of the Treasury.Google Scholar
Turner, Bernice. 1931. The Federal Fund Market. Prentice-Hall: New York, NY.Google Scholar
U.S. Department of Commerce. 1975. Historical Statistics of the United States, Colonial Times to 1970, Part I. Government Printing Office: Washington, DC.Google Scholar
U.S. General Accounting Office. 1987. U.S. Government Securities: Expanding Access to Interdealer Brokers’ Services. February.Google Scholar
U.S. General Accounting Office. 1987. U.S. Government Securities: An Examination of Views Expressed About Access to Brokers’ Services. December.Google Scholar
U.S. Treasury Department. 1960. Debt Management and Advance Refunding. U.S. Treasury Department: Washington, DC.Google Scholar
U.S. Treasury and Federal Reserve System. 1959. Treasury-Federal Reserve Study of the Government Securities Market, Part I.Google Scholar
U.S. Treasury and Federal Reserve System. 1960a. Treasury-Federal Reserve Study of the Government Securities Market, Part II.Google Scholar
U.S. Treasury and Federal Reserve System. 1960b. Treasury-Federal Reserve Study of the Government Securities Market, Part III.Google Scholar
U.S. Treasury and Federal Reserve System. 1969. Report of the Joint Treasury-Federal Reserve Study of the U.S. Government Securities Market. Board of Governors of the Federal Reserve System: Washington, DC.Google Scholar
U.S. Treasury and Federal Reserve System. 1970. Joint Treasury-Federal Reserve Study of the U.S. Government Securities Market, Staff Studies: Part 1. Board of Governors of the Federal Reserve System: Washington, DC.Google Scholar
U.S. Treasury and Federal Reserve System. 1971. Joint Treasury-Federal Reserve Study of the U.S. Government Securities Market, Staff Studies: Part 2. Board of Governors of the Federal Reserve System: Washington, DC.Google Scholar
U.S. Treasury and Federal Reserve System. 1973. Joint Treasury-Federal Reserve Study of the U.S. Government Securities Market, Staff Studies: Part 3. Board of Governors of the Federal Reserve System: Washington, DC.Google Scholar
Volcker, Paul. 1972. “A New Look at Treasury Debt Management.” U.S. Department of the Treasury News. March 7.Google Scholar
Volcker, Paul, with Harper, Christine. 2018. Keeping at It: The Quest for Sound Money and Good Government. Public Affairs, Hachette Book Group: New York, NY.Google Scholar
Vollkommer, Richard. 1970. “Clearance and Custody of Untied States Government Securities: Solutions to Some Problems.” Unpublished study, Stonier Graduate School of Banking, Rutgers University.Google Scholar
Walker, Charls. 1954. “Federal Reserve Policy and the Structure of Interest Rates on Government Securities.” Quarterly Journal of Economics 68, no. 1 (February): 1942.CrossRefGoogle Scholar
Welles, Chris. 1982. “Drysdale: What Really Happened.” Institutional Investor (September): 73–83.Google Scholar
Warburg, Paul. 1930. The Federal Reserve System, vol. 1. Macmillan: New York, NY.Google Scholar
Wicker, Elmus. 1969. “The World War II Policy of Fixing a Pattern of Interest Rates.” Journal of Finance 24, no. 3 (June): 447–58.Google Scholar
Wood, Elmer. 1955. “Recent Monetary Policies.” Journal of Finance 10, no. 3 (September): 315–25.CrossRefGoogle Scholar
Yeager, Leland. 1966. International Monetary Relations. Harper & Row: New York, NY.Google Scholar
Young, Ralph. 1958. “Tools and Processes of Monetary Policy.” In United States Monetary Policy. The American Assembly, Columbia University: New York, NY.Google Scholar
Young, Ralph, and Yager, Charles. 1960. “The Economics of ‘Bills Preferably’.” Quarterly Journal of Economics 74, no. 3 (August): 341–73.CrossRefGoogle Scholar
Young, Ralph, Keir, Peter, Koch, Albert, Larkin, John, Mayo, Robert, Roosa, Robert, and Saunders, Duane. 1960. “Implementation of Treasury-Federal Reserve Program of Information About the Government Securities Market, Report of Steering Group.” Unpublished paper. January 5.Google Scholar

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×