Showing 1 - 10 of 117
Research and experimentation on central bank digital currencies continue to fuel discussion and debate. This BIS paper updates an earlier survey that asked central banks how their plans in this area are developing. The latest responses show emerging market economies reporting stronger...
Persistent link: https://www.econbiz.de/10012841856
The hypothetical benefits and risks of central bank digital currencies are being widely discussed. This BIS paper adds to these discussions by taking stock of how progress and plans in this area are developing, based on a global survey of central banks. Responses show that central banks are...
Persistent link: https://www.econbiz.de/10012893235
To reinforce the long-term sustainability of public finances, the South African National Treasury has proposed a set of fiscal guidelines informed by three principles, namely: a counter-cyclical fiscal stance, long-term debt sustainability and inter-generational equity. Owing to the sound...
Persistent link: https://www.econbiz.de/10013088093
This paper covers fiscal policy tools that promote sustainability and their influence on monetary policy in Russia, the Bank of Russia's role in public debt management and main features of the domestic currency public debt market. At present Russia's budgetary circumstances are quite favourable,...
Persistent link: https://www.econbiz.de/10013088107
This paper focuses on the interactions between public debt policy and foreign exchange reserve management. We found that, although foreign currency debt issuance can contribute significantly to the growth of foreign exchange reserves, it can cause serious difficulties in the assessment of...
Persistent link: https://www.econbiz.de/10013088111
The global financial crisis showed that both authorities and markets failed to properly assess the size and the evolution of the public debt stock in various economies. In some countries the monetary authorities focused excessively on inflation, without taking into account other key...
Persistent link: https://www.econbiz.de/10013088186
The size and maturity structure of the government debt market have important implications for monetary policy, especially in EMEs. This paper documents the remarkable growth of the market over the past decade in terms of size, issuance and maturity structure of combined government and central...
Persistent link: https://www.econbiz.de/10013088187
This contribution, which is part of BIS Paper 66, gives an Indian perspective on the issue of sovereign debt management and the central bank.Full publication: "http://ssrn.com/abstract=2166373" Are Central Bank Balance Sheets in Asia Too Large?
Persistent link: https://www.econbiz.de/10013089496
We study the cross-border impact of quantitative easing (QE) in the major advanced economies, especially on emerging market economies. We first examine the cross-border financial market impact of central bank announcements of asset purchase programmes. We find marked QE announcement effects on...
Persistent link: https://www.econbiz.de/10013089500
In the aftermath of the Asian financial crisis of 1997–99, central banks and governments throughout the developing world have accumulated foreign exchange reserves and other official assets at an unprecedented rate. This paper shows that this official asset accumulation has driven a...
Persistent link: https://www.econbiz.de/10013089502