operations (LTROs) of the European Central Bank (ECB). We investigate how banks’ bidding behavior is related to a series of … exogenous variables such as collateral costs, interest rate expectations, market volatility and to individual bank … characteristics like country of origin, size and experience. Panel regressions reveal that a bank’s bidding depends on bank …

Before 1914, there was little doubt that central bank policy meant first of all control of short term interest rates … which a central bank should, via open market operation, steer some reserve concept, which would impact via the money … rates only in the 1990s, for example the Bank of England never adopted RPD. This paper explains the astonishing rise and …

This paper explores the role of central bank capital in ensuring that central banks focus on price stability in … comprehensive, model of the relationship between a central bank's balance sheet structure and its inflation performance. The first …&L) of a central bank always remains positive, despite adverse shocks, assuming a stability oriented monetary policy. The …

The banking system is modeled in a closed system of financial accounts, whereby the equilibrium volume of bank … facility rate of the central bank. The model also allows understanding the link between this difference (the width of the … central bank standing facilities corridor) and the stance of monetary policy, and how this link changes during a financial …

bank standing facilities. This paper develops a simple stochastic model to show how the width of the central bank standing … wider the corridor, the greater the interbank turnover, the leaner the central bank’s balance sheet (i.e. the lower the … matched with central bank preferences to obtain an optimal corridor width. The model is tested against euro area and Hungarian …

bank standing facilities. This paper develops a simple stochastic model to show how the width of the central bank standing … wider the corridor, the greater the interbank turnover, the leaner the central bank’s balance sheet (i.e. the lower the … matched with central bank preferences to obtain an optimal corridor width. The model is tested against euro area and Hungarian …

The banking system is modeled in a closed system of financial accounts, whereby the equilibrium volume of bank … facility rate of the central bank. The model also allows understanding the link between this difference (the width of the … central bank standing facilities corridor) and the stance of monetary policy, and how this link changes during a financial …