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Managing the Fed’s liftoff and transmission of monetary policy
Kumar, Manmohan S. - 2015
In recent years, many money and repo rates in the United States have been between zero and 25 basis points. As Fed's liftoff approaches, the question of the level of these rates (and the markets that determine them) becomes increasingly important. The paper discusses (i) whether the Fed can...
Persistent link: https://www.econbiz.de/10011373973
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Financial plumbing and monetary policy
Kumar, Manmohan S. - 2014
Persistent link: https://www.econbiz.de/10010387292
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Do old habits die hard? : central banks and the Bretton Woods gold puzzle
Monnet, Eric; Puy, Damien - 2019
Why did monetary authorities hold large gold reserves under Bretton Woods (1944-1971) when only the US had to? We argue … back currency in circulation with gold reserves, following rules of the pre-WWII gold standard. The longer an institution … spent in the gold standard (and the older the policymakers), the stronger the correlation between gold reserves and currency …
Persistent link: https://www.econbiz.de/10012102163
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Potential Role SDR Diversified Currency Portfolios Central Bank
International Monetary Fund - 1988
This paper compares the SDR in terms of its risk-return characteristics relative to those of its five components and, on this basis, finds that the SDR has performed favorably over the period under review. In addition, several efficient portfolios including the SDR and its components are...
Persistent link: https://www.econbiz.de/10014396007
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Central Bank Vulnerability and the Credibility of Commitments : A Value-At-Risk Approach to Currency Crises
Schumacher, Liliana - 1998
ability to sustain nominal commitments cannot be gauged by focusing only on selected accounts (such as reserves), but requires …
Persistent link: https://www.econbiz.de/10014400710
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Managing Systemic Liquidity Risk in Financially Dollarized Economies
Levy Yeyati, Eduardo - 2005
This paper evaluates ways to protect highly dollarized banking systems from systemic liquidity runs (such as the ones that took place recently in Argentina, Uruguay, and Paraguay). In view of the limitations of available (private or official) insurance schemes, and the distortions introduced by...
Persistent link: https://www.econbiz.de/10014404199
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Some alternative monetary facts
Stella, Peter; Kumar, Manmohan S.; Bhargava, Apoorv - 2021
Persistent link: https://www.econbiz.de/10012487229
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How does the Repo market behave under stress? : evidence from the COVID-19 crisis
Hüser, Anne-Caroline; Lepore, Caterina; Veraart, Luitgard - 2021
We examine how the repo market operates during liquidity stress by applying network analysis to novel transaction-level data of the overnight gilt repo market including the COVID-19 crisis. During this crisis, the repo network becomes more connected, with most institutions relying on existing...
Persistent link: https://www.econbiz.de/10012796211
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Cash use across countries and the demand for central bank digital currency
Tanai Khiaonarong; Humphrey, David B. - 2019
for cash substitutes (cards, electronic money, mobile phone payments). Where cash use is very high, demand should be …
Persistent link: https://www.econbiz.de/10012009449
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Falling use of cash and demand for retail central bank digital currency
Tanai Khiaonarong; Humphrey, David B. - 2022
Cash use in most countries is falling slowly. On the margin, younger adults favor cash substitutes over cash. For older adults it is the reverse. Revealed preference tied to a changing population age structure seems to be the main influence on the demand for cash and why it is falling. Cash use...
Persistent link: https://www.econbiz.de/10013170282