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The European Central Bank (ECB) reduced its deposit rate into negative territory in June 2014. It has been reduced … without taking great risks and avoiding nominal depreciation. This article shows, however, that the deposit rate has never … tiering programme increased the average deposit rate rather than decreased it as one would have supposed. With this programme …
Persistent link: https://www.econbiz.de/10012226804
This paper asks whether the BoJ''s recent experience with unconventional monetary easing has been effective in supporting economic activity and inflation. Using a structural VAR model, the paper finds some evidence that BoJ''s monetary policy measures during 1998-2010 have had an impact on...
Persistent link: https://www.econbiz.de/10014396895
With policy rates near the zero bound, the Bank of Japan (BoJ) has introduced a series of unconventional monetary …
Persistent link: https://www.econbiz.de/10014412167
these operations. Despite a vast literature on the topic, central bank approaches and practices vary considerably. In this …
Persistent link: https://www.econbiz.de/10011436788
Persistent link: https://www.econbiz.de/10010388739
This paper presents an overview of exposures in the balance sheets of central banks, banks, and other depository institutions during the past decade, with emphasis on asset growth and currency composition. It exploits the IMF's SRF-based monetary data to show: (i) there was a widely observed...
Persistent link: https://www.econbiz.de/10011283242
This paper investigates whether developing and emerging market countries can implement monetary policies similar to those used by advanced countries during the recent global crisis - injecting significant amounts of money into the financial system without facing major short-run adverse...
Persistent link: https://www.econbiz.de/10014412168
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