Did Doubling Reserve Requirements Cause the Recession of 1937-1938? A Microeconomic Approach
NBER Working Paper No. 16688
---- Acknowledgments ----
The authors thank Hong Lee and David Lopez for research assistance, and Allan Meltzer for helpful discussions. Views expressed in this paper do not necessarily reflect official positions of the Federal Reserve Bank of St. Louis, the Federal Reserve System, or the National Bureau of Economic Research.