Similar Search Results

Macroprudential Policy and Bank Systemic Risk: Does Inflation Targeting Matter?

Belkhir, Mohamed - 2023

This paper investigates macroprudential policy effects on bank systemic risk and the role of inflation targeting in such effects. Using bank-level data for 45 countries comprising various monetary and exchange rate regimes, our regime-dependent dynamic panel regression results point to...

Persistent link: https://www.econbiz.de/10015059389

Excess Liquidity and the Effectiveness of Monetary Policy : Evidence from Sub-Saharan Africa

Saxegaard, Magnus - 2006

Intro -- Contents -- I. INTRODUCTION -- II. SOME STYLIZED FACTS ON RESERVE REQUIREMENTS AND EXCESS LIQUIDITY IN AFRICAN … COUNTRIES -- III. MEASUREMENT OF EXCESS LIQUIDITY -- IV. EXCESS BANK LIQUIDITY AND MONETARY POLICY TRANSMISSION MECHANISM -- V …

Persistent link: https://www.econbiz.de/10012691164

ECB Euro Liquidity Lines

Albrizio, Silvia - 2023

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/10015059508

Credible Commitment to Optimal Escape from a Liquidity Trap; The Role of the Balance Sheet of an Independent Central Bank

Jeanne, Olivier; Svensson, Lars E. O. - International Monetary Fund (IMF) - 2004

its currency and an exchange rate peg. This way, the central bank can implement the optimal escape from a liquidity trap … to escape from a liquidity trap. …

Persistent link: https://www.econbiz.de/10005826442

The Gambia; Demand for Broad Money and Implications for Monetary Policy Conduct

Sriram, Subramanian S. - International Monetary Fund (IMF) - 2009

This paper evaluates the demand for broad money (M2) in The Gambia for January 1988-June 2007. There appears to be a long-run relationship for demand for real M2, but the relationship is not stable. Exogenous output shocks, financial innovation, changes in income velocity, and inadequate data...

Persistent link: https://www.econbiz.de/10008528631

Deconstructing the Art of Central Banking

Bayoumi, Tamim; Sgherri, Silvia - International Monetary Fund (IMF) - 2004

This paper proposes a markedly different transmission mechanism from monetary policy to the macroeconomy, focusing on how policy changes nominal inertia in the Phillips curve. Using recent theoretical developments, we examine the properties of a small, estimated U.S. monetary model...

Persistent link: https://www.econbiz.de/10005263913

Inflation Targeting with NAIRU Uncertainty and Endogenous Policy Credibility

Isard, Peter; Laxton, Douglas; Eliasson, Ann-Charlotte - International Monetary Fund (IMF) - 2001

Stochastic simulations are employed to compare performance of monetary policy rules in linear and nonlinear variants of a small macro model with NAIRU uncertainity under different assumptions about the way inflation expectations are formed. Cases in which policy credibility is ignored or treated...

Persistent link: https://www.econbiz.de/10005263924

Estimating the Implicit Inflation Target; An Application to U.S. Monetary Policy

Leigh, Daniel - International Monetary Fund (IMF) - 2005

This paper proposes a new method of estimating the Taylor rule with a time-varying implicit inflation target and a time-varying natural rate of interest. The inflation target and the natural rate are modeled as random walks and are estimated using maximum likelihood and the Kalman filter. I...

Persistent link: https://www.econbiz.de/10005263941

The ECB'S Money Pillar; An Assessment

Jaeger, Albert - International Monetary Fund (IMF) - 2003

This paper discusses the case for a money pillar in the European Central Bank's (ECB) monetary policy strategy. Time-series evidence for industrial countries based on frequency-domain and unobserved-components analysis suggests that money can play a useful role in gauging and constraining...

Persistent link: https://www.econbiz.de/10005264049

Is the Quantity of Government Debt a Constraint for Monetary Policy?

Mitra, Srobona - International Monetary Fund (IMF) - 2007

This paper derives an interest rate rule for monetary policy in which the interest rate response of the central bank toward an increase in expected inflation falls as debts increase beyond a certain threshold level. A debt-constrained interest rate rule and the threshold level of debt are...

Persistent link: https://www.econbiz.de/10005264121

1
2
3
4
5
6
7
8
9
10
Next
Last