Even if it's rote memory, her mastery of the subject is quite amazing. She says more succinctly in a few minutes what my nearly 80 year old Money & Banking prof took nearly a semester to convey.
And she's also apparently quite right. In 1968, Canada's reserve requirement was between 5-6%, by 2008 it was at about 25 basis points (0.25%), having phased out the reserve requirement altogether in the early '90s. For rough comparison, the U.S. reserve requirement shrank from about 12% to 10% over the same time period (though argued by some to be largely irrelevant).
Even if it's rote memory, her mastery of the subject is quite amazing. She says more succinctly in a few minutes what my nearly 80 year old Money & Banking prof took nearly a semester to convey.
ReplyDeleteAnd she's also apparently quite right. In 1968, Canada's reserve requirement was between 5-6%, by 2008 it was at about 25 basis points (0.25%), having phased out the reserve requirement altogether in the early '90s. For rough comparison, the U.S. reserve requirement shrank from about 12% to 10% over the same time period (though argued by some to be largely irrelevant).