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Central bank credit to the government : what can we learn from international practices?

Jácome, Luis Ignacio; Matamoros-Indorf, Marcela; … - 2012

Persistent link: https://www.econbiz.de/10009423901

Central Bank Credit to the Government : What Can We Learn From International Practices?

Matamoros-Indorf, Marcela - 2012

Using a central bank legislation database, this paper documents and analyzes worldwide institutional arrangements for … central bank lending to the government and identifies international practices. Key findings are: (i) in most advanced …

Persistent link: https://www.econbiz.de/10014396932

Treasury Bills and/Or Central Bank Bills for Absorbing Surplus Liquidity : The Main Considerations

Nyawata, Obert - 2012

This paper discusses the challenging question of whether central banks should use treasury bills or central bank bills … bank bills, the paper argues that treasury bills are the first best option especially because positive externalities for …) operational independence for the central bank; (ii) market development; and (iii) the strengthening of the transmission of …

Persistent link: https://www.econbiz.de/10014396940

Government Securities Versus Central Bank Securities in Developing Open Market Operations : Evaluation and Need for Coordinating Arrangements

Quintyn, Marc - 1994

In an indirect monetary policy framework, open market operations become the central bank’s main instrument. In the … design of supporting arrangements to ensure the central bank’s operational autonomy when using the instrument, are crucial …

Persistent link: https://www.econbiz.de/10014398182

Is banks’ home bias good or bad for public debt sustainability?

Asonuma, Tamon; Bakhache, Said; Hesse, Heiko - 2015

Motivated by the recent increase in domestic banks' holdings of domestic sovereign debt (i.e., home bias) in the European periphery, this paper analyzes implications of banks' home bias for the sovereign's debt sustainability. The main findings, based on a sample of advanced (AM) and emerging...

Persistent link: https://www.econbiz.de/10011281916

Banks, government bonds, and default : what do the data say?

Gennaioli, Nicola; Martin, Alberto; Rossi, Stefano - 2014

Persistent link: https://www.econbiz.de/10010441706

The Eurozone Crisis : How Banks and Sovereigns Came to Be Joined At the Hip

Sandri, Damiano - 2011

We use the rise and dispersion of sovereign spreads to tell the story of the emergence and escalation of financial tensions within the eurozone. This process evolved through three stages. Following the onset of the Subprime crisis in July 2007, spreads rose but mainly due to common global...