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details and in the style of central bank intervention, along both cross-sectional and time-series dimensions of our data. Our … requirements ; central bank procedures …
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The Eurosystem and the U.S. Federal Reserve System follow quite different approaches to the execution of monetary policy. The former institution adopts a "hands-off" approach that largely delegates to depository institutions the task of stabilizing their own liquidity at high frequency. The...
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"We propose a model of the interbank money market with an explicit role for central bank intervention and periodic … reserve requirements, and study the interaction of profit-maximizing banks with a central bank targeting interest rates at …"--Federal Reserve Bank of New York web site …
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This paper proposes a simple framework for analyzing a continuum of monetary policy rules characterized by differing degrees of credibility, in which commitment and discretion become special cases of what we call quasi commitment. The monetary policy authority is assumed to formulate optimal...
Persistent link: https://www.econbiz.de/10001783067