Showing 1 - 10 of 252
Persistent link: https://www.econbiz.de/10003505513
This paper addresses the possible role of bond prices as operating or intermediate targets for monetary policy. The paper begins with a brief review of the mechanisms through which a central bank could, in theory, influence long-term interest rates, and continues with a brief narrative overview...
Persistent link: https://www.econbiz.de/10012466210
The paper generalizes the Taylor principle---the proposition that central banks can stabilize the macroeconomy by raising their interest rate instrument more than one-for-one in response to higher inflation---to an environment in which reaction coefficients in the monetary policy rule evolve...
Persistent link: https://www.econbiz.de/10012466797
Experience under the safeguards policy has shown that central banks continued to strengthen their safeguards frameworks, but that vulnerabilities prevailed in the areas of internal audit and oversight by the audit committee (AC). This paper takes steps to help unravel why this was the case,...
Persistent link: https://www.econbiz.de/10012913900
Persistent link: https://www.econbiz.de/10008746420
credit easing, defined as a combination of lending to financial institutions, providing liquidity directly to key credit …
Persistent link: https://www.econbiz.de/10012462998
ensuring that liquidity would be distributed to those institutions that needed it most. Conceptually, this meant America …
Persistent link: https://www.econbiz.de/10012464512
While the global financial crisis was centered in the United States, it led to a surprising appreciation in the dollar, suggesting global dollar illiquidity. In response, the Federal Reserve partnered with other central banks to inject dollars into the international financial system. Empirical...
Persistent link: https://www.econbiz.de/10012461299
Central bank liquidity lines have gained momentum since the global financial crisis as a crosscurrency liquidity … management tool. We provide a complete timeline of the ECB liquidity line announcements and study their signalling and spillback … effects. The announcement of an ECB euro liquidity line decreases the premium paid by foreign agents to borrow euros in FX …
Persistent link: https://www.econbiz.de/10014354526
for draining excess liquidity in the banking system. While recognizing that there are practical reasons for using central …
Persistent link: https://www.econbiz.de/10013110099