Multiple Reserve Requirements
研究政府要求商业银行同时持有本币和国债作为准备金的经济后果，构建模型分析多重准备金制度对通胀和福利的影响，为评估该政策提供分析框架。
This paper investigates the consequences of government imposition of multiple reserve requirements on commercial banks. In particular, it examines a situation in which banks are required to hold some fraction of their customer's deposits in the form of domestic currency and another fraction in the form of interest bearing government bonds. Proponents of such requirements claim that for a given deficit, a multiple reserve scheme leads to a lower rate of inflation than would occur under a single reserve regime. I construct a model which provides a framework for analyzing this view. The analysis does not focus exclusively on the inflationary effect of alternative reserve regimes. The model also allows for welfare analysis. Copyright 1995 by Ohio State University Press.