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This paper explores how monetary policy affects the real economy and its efficacy in promoting financial stability in a large low income country. This paper shows that monetary policy modestly impacts real economic activity and inflation via the bank lending and financial accelerator channels....
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States, the United Kingdom, Euro area and Japan- the Systemic Four-on global monetary and liquidity conditions. Overall, the … countries on these conditions in other countries. UMPMs of the Bank of Japan have positive association with global liquidity but …
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) effects of the Bank of Japan (BOJ)'s JGB purchases on market liquidity. Moreover, we also find evidence that such scarcity …Quantitative easing could improve market liquidity through many channels such as relaxing bank funding constraints …, increasing risk appetite, and facilitating trades. However, it can also reduce market liquidity when the increase in the central …
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The paper analyzes the interplay between public debt and monetary management during financial reforms, and provides suggestions on collaboration between the central bank and the treasury to achieve common objectives. It discusses monetary policy and public debt at the onset and through different...
Persistent link: https://www.econbiz.de/10014396618
Many countries have initiated reforms in their monetary control procedures by relaxing direct controls and increasing the role of market processes. The changed approach is often inevitable when countries reform their financial systems in support of growth and adjustment. This is because reform...
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Japan has ambitious economic goals: 3 percent nominal growth; 2 percent inflation; and a primary budget surplus …
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