DYNAMIC MODELS OF BANK CREDIT EXPANSION UNDER CERTAINTY

The purpose of the paper is to investigate the effect of the Federal Reserve policy change of September, 1968 on credit expansion by a single bank in response to a change to its reserve level. A dynamic programming model, treating all parameters as if they were known with certainty, is used to inves...

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Bibliographic Details
Main Authors: Brown,George F. , Jr, Lloyd,Richmond M
Format: Report
Language:English
Subjects:
Administration and Management
BANKING
BANKING PRACTICES
CREDIT
DECISION MAKING
DYNAMIC PROGRAMMING
Economics and Cost Analysis
MANAGEMENT PLANNING AND CONTROL
MATHEMATICAL MODELS
OPTIMIZATION
PARTIAL DIFFERENTIAL EQUATIONS
PREDICTIONS
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Summary:The purpose of the paper is to investigate the effect of the Federal Reserve policy change of September, 1968 on credit expansion by a single bank in response to a change to its reserve level. A dynamic programming model, treating all parameters as if they were known with certainty, is used to investigate the nature of optimal credit behavior under these two environments. (Author)