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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

Monetary Policy in an Equilibrium Portfolio Balance Model

Kumhof, Michael; Nieuwerburgh, Stijn van - International Monetary Fund (IMF) - 2007

Standard theory shows that sterilized foreign exchange interventions do not affect equilibrium prices and quantities, and that domestic and foreign currency denominated bonds are perfect substitutes. This paper shows that when fiscal policy is not sufficiently flexible in response to spending...

Persistent link: https://www.econbiz.de/10005248240

Public Debt, Money Supply, and Inflation; A Cross-Country Study and its Application to Jamaica

Kwon, Goohoon; McFarlane, Lavern; Robinson, Wayne - International Monetary Fund (IMF) - 2006

This paper provides comprehensive empirical evidence that supports the predictions of Sargent and Wallace's (1981) "unpleasant monetarist arithmetic" that an increase in public debt is typically inflationary in countries with large public debt. Drawing on an extensive panel dataset, we find that...

Persistent link: https://www.econbiz.de/10005263906

The Empirics of Foreign Exchange Intervention in Emerging Markets; The Cases of Mexico and Turkey

Karacadag, Cem; Guimarães, Roberto Pereira - International Monetary Fund (IMF) - 2004

This paper analyzes the effects of intervention on the level and volatility of the exchange rate in Mexico and Turkey, two emerging countries that have floating exchange rate regimes. The paper finds mixed evidence on the effectiveness of intervention. In Mexico, foreign exchange sales have a...

Persistent link: https://www.econbiz.de/10005264020

Inflation Pressures and Monetary Policy Options in Emerging and Developing Countries-A Cross Regional Perspective

Ötker, Inci; Vávra, David; Vázquez, Francisco F.; … - International Monetary Fund (IMF) - 2009

This paper analyzes the monetary policy response to rising inflation in emerging and developing countries associated with the food and oil price shocks in 2007 and the first half of 2008. It reviews inflation developments in a sample of countries covering all regions and a broad range of...

Persistent link: https://www.econbiz.de/10005264056

Setting the Stage for a National Currency in the West Bank and Gaza; The Choice of Exchange Rate Regime

Kandil, Magda E.; Beidas, S. - International Monetary Fund (IMF) - 2005

This paper sheds light on the quantitative behavioral responses of key economic variables in the Palestinian economy in the face of major economic shocks and draws implications for the choice of an exchange rate regime should a decision be taken to introduce a national currency. Time-series...

Persistent link: https://www.econbiz.de/10005264100

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