Similar Search Results

The scarcity effect of quantitative easing on repo rates : evidence from the euro area

Arrata, William; Nguyen, Benoit; Rahmouni-Rousseau, Imene; … - 2018

Public Sector Purchase Program (PSPP). In this paper, we explore empirically the interactions between the PSPP and repo rates … and repo transactions for specific ('special") securities, we assess the scarcity channel of PSPP and its impact on repo … rates. We estimate that purchasing 1 percent of a bond outstanding is associated with a decline of its repo rate of 0.78 bps …

Persistent link: https://www.econbiz.de/10011978433

Monetary policy in hybrid regimes : the case of Kazakhstan

Epstein, Natan; Portillo, Rafael - 2014

Persistent link: https://www.econbiz.de/10010388860

Day-To-Day Monetary Policy and the Volatility of the Federal Funds Interest Rate

Prati, Alessandro - 2000

We propose a model of the interbank money market with an explicit role for central bank intervention and periodic reserve requirements, and study the interaction of profit-maximizing banks with a central bank targeting interest rates at high frequency. The model yields predictions on biweekly...

Persistent link: https://www.econbiz.de/10014399599

Monetary Policy in Hybrid Regimes : The Case of Kazakhstan

Epstein, Natan P. - 2014

This paper analyzes the monetary policy framework in Kazakhstan. The authorities have been successful in containing inflation in the context of a managed exchange rate regime. Over the past two years, the central bank has taken steps to enhance its ability to regulate liquidity in the financial...

Persistent link: https://www.econbiz.de/10014411392

Financial Structure, Bank Lending Rates, and the Transmission Mechanism of Monetary Policy

Kourelis, Angeliki - 1994

The stickiness of bank lending rates with respect to money market rates is often regarded as an obstacle to the smooth transmission of monetary policy impulses. Yet, no systematic measure of the different degree of lending rate stickiness across countries has been attempted. This paper provides...

Persistent link: https://www.econbiz.de/10014396171

Liquidity ratios as monetary policy tools : some historical lessons for macroprudential policy

Monnet, Eric; Vari, Miklos - 2019

This paper explores what history can tell us about the interactions between macroprudential and monetary policy. Based on numerous historical documents, we show that liquidity ratios similar to the Liquidity Coverage Ratio (LCR) were commonly used as monetary policy tools by central banks...

Persistent link: https://www.econbiz.de/10012103606

"Puts" in the shadow

Kumar, Manmohan S. (contributor) - 2012

-banking activities within a bank, money market funds, Triparty repo, OTC derivatives market, collateral with central banks, and issuance …

Persistent link: https://www.econbiz.de/10009622451

What Drives China's Interbank Market?

International Monetary Fund - 2009

Interest rates in China comprise a mix of both market determined interest rates (interbank rates and bond yields), and regulated interest rates (lending and deposit rates), reflecting China''s gradual process of interest rate liberalization. We argue, using a theoretical model and empirical...

Persistent link: https://www.econbiz.de/10014402462

The Financial Reform in Finland

International Monetary Fund - 1988

This paper examines the evolution of the Finnish financial system from a restrictive system based on credit limitations and rationing to an open system which relies on indirect, market-oriented policies. The main beneficiaries are found to be the banks and those that previously had restricted...

Persistent link: https://www.econbiz.de/10014396052

Money Market Integration

Bartolini, Leonardo - 2006

We use transaction-level data and detailed modeling of the high-frequency behavior of federal funds and Eurodollar yield spreads to provide evidence of strong integration between the federal funds and Eurodollar markets, the two core components of the dollar money market. Our results contrast...

Persistent link: https://www.econbiz.de/10014404232

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