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100   $a20111102d2012      uy             0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aChicago plan revisited$b[electronic resource] /$fprepared by Jaromir Benes and Michael Kumhof
210   $aWashington, DC $cInternational Monetary Fund$d2012
215   $a1 online resource (72 p.)
225 0 $aIMF working paper ;$v12/202
300   $aDescription based upon print version of record.
311   $a1-4755-6220-9 
311   $a1-4755-0552-3 
320   $aIncludes bibliographical references.
327   $aCover; Contents; I. Introduction; II. The Chicago Plan in the History of Monetary Thought; A. Government versus Private Control over Money Issuance; B. The Chicago Plan; III. The Model under the Current Monetary System; A. Banks; B. Lending Technologies; C. Transactions Cost Technologies; D. Equity Ownership and Dividends; E. Unconstrained Households; F. Constrained Households; G. Unions; H. Manufacturers; I. Capital Goods Producers; J. Capital Investment Funds; K. Government; 1. Monetary Policy; 2. Prudential Policy; 3. Fiscal Policy; 4. Government Budget Constraint; L. Market Clearing
327   $aIV. The Model under the Chicago PlanA. Banks; B. Households; C. Manufacturers; D. Government; 1. Monetary Policy; 2. Prudential Policy; 3. Fiscal Policy; 4. Government Budget Constraint; 5. Controlling Boom-Bust Cycles - Additional Considerations; V. Calibration; VI. Transition to the Chicago Plan; VII. Credit Booms and Busts Pre-Transition and Post-Transition; VIII. Conclusion; References; Figures; 1. Changes in Bank Balance Sheet in Transition Period (percent of GDP); 2. Changes in Government Balance Sheet in Transition Period (percent of GDP)
327   $a3. Changes in Bank Balance Sheet - Details (percent of GDP)4. Transition to Chicago Plan - Bank Balance Sheets; 5. Transition to Chicago Plan - Main Macroeconomic Variables; 6. Transition to Chicago Plan - Fiscal Variables; 7. Business Cycle Properties Pre-Transition versus Post-Transition
330   $aAt the height of the Great Depression a number of leading U.S. economists advanced a proposal for monetary reform that became known as the Chicago Plan. It envisaged the separation of the monetary and credit functions of the banking system, by requiring 100% reserve backing for deposits. Irving Fisher (1936) claimed the following advantages for this plan: (1) Much better control of a major source of business cycle fluctuations, sudden increases and contractions of bank credit and of the supply of bank-created money. (2) Complete elimination of bank runs. (3) Dramatic reduction of the (net) pub
410  0$aIMF Working Papers
606   $aBanking law$zUnited States
606   $aBanks and banking$zUnited States
608   $aElectronic books.
615  0$aBanking law
615  0$aBanks and banking
700   $aBenes$b Jaromir$0866239
701   $aKumhof$b Michael$0866240
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801  1$bMiAaPQ
801  2$bMiAaPQ
906   $aBOOK
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996   $aChicago plan revisited$91933299
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