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Credit Growth and the Effectiveness of Reserve Requirements and Other Macroprudential Instruments in Latin America
Tovar Mora, Camilo Ernesto - 2012
Over the past decade policy makers in Latin America have adopted a number of macroprudential instruments to manage the procyclicality of bank credit dynamics to the private sector and contain systemic risk. Reserve requirements, in particular, have been actively employed. Despite their...
Persistent link: https://www.econbiz.de/10013102264
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China's Monetary Policy Communication : Frameworks, Impact, and Recommendations
McMahon, Michael - 2019
Financial markets are eager for any signal of monetary policy from the People's Bank of China (PBC). The importance of … effective monetary policy communication will only increase as China continues to liberalize its financial system and open its …
Persistent link: https://www.econbiz.de/10012892919
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Spillovers from China Onto Sub-Saharan Africa : Insights from the Flexible System of Global Models (FSGM)
Anderson, Derek - 2015
What is the impact of economic spillovers from China on sub-Saharan Africa (SSA)? This is an increasingly important … question because of China's growing economic role as a partner of SSA countries for both trade and the buildup of … infrastructure in the region. The impact of spillovers from China has been an open question because of the challenge to use an …
Persistent link: https://www.econbiz.de/10013012435
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China : Strengthening Monetary Policy Implementation
Maino, Rodolfo - 2007
The People's Bank of China (PBC) has made great strides in modernizing its monetary policy frameworks but their … money in China's monetary strategy and enhancing the role of interest rates in its conduct. We advocate adoption of an …
Persistent link: https://www.econbiz.de/10012777847
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China's Monetary Policy and Interest Rate Liberalization : Lessons from International Experiences
Liao, Wei - 2014
China has been moving to a more market oriented financial system, which has implications for the monetary policy … income and the interest rate. For China, we find that the stable long-run relationship between money demand, output, and …
Persistent link: https://www.econbiz.de/10013053041
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Monetary Policy Transmission and Policy Coordination in China
Das, Sonali; Song, Wenting - 2022
We study the transmission of conventional monetary policy in China, focusing on the interaction between monetary and …
Persistent link: https://www.econbiz.de/10013289449
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Some Lessons from Asian E-Money Schemes for the Adoption of Central Bank Digital Currency
Sun, Tao; Rizaldy, Ryan - 2023
This paper synthesizes four lessons from the experiences of six Asian e-money schemes for central banks as they consider adopting central bank digital currency (CBDC): (i) CBDC should embody four attributes: trust, convenience, efficiency, and security; (ii) CBDC service providers can facilitate...
Persistent link: https://www.econbiz.de/10014350034
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Spillovers to Emerging Markets from US Economic News and Monetary Policy
Engler, Philipp; Piazza, Roberto; Sher, Galen - 2023
When the U.S. economy sneezes, do emerging markets catch a cold? We show that economic news, and not just monetary policy, in the United States affects financial conditions in emerging markets. News about U.S. employment has the strongest effects, followed by news about economic activity and...
Persistent link: https://www.econbiz.de/10014350292
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Measuring the Stances of Monetary and Fiscal Policy
Vitek, Francis - 2023
We derive measures of the stances of monetary and fiscal policy within the framework of an empirically plausible extension of the basic New Keynesian model, and jointly estimate them for the United States using a closed form multivariate linear filter. Our theoretical analysis reveals that the...
Persistent link: https://www.econbiz.de/10014350293
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The Heterogeneous Effects of U.S. Monetary Policy on Non-Bank Finance
Hodge, Andrew; Weber, Anke - 2023
Using flow of funds and high frequency data from the Investment Company Institute, we study the effects of monetary policy shocks on the size of non-bank assets as well as on flows into long-term mutual funds and returns on their assets. Consolidating chains of non-bank intermediation to avoid...
Persistent link: https://www.econbiz.de/10014350470