to accumulate massive foreign reserves. If left unsterilized, the liquidity expansion can threaten domestic macroeconomic … stability. To contain domestic inflation these central banks absorb rather then provide liquidity in their regular monetary … surplus liquidity is less efficient, because absorbing liquidity raises the costs of monetary policy operations. By …

The paper explains internationally transmitted boom-and-bust cycles as the outcome of excessive liquidity supply based …

die Rückkehr zu symmetrischen Regeln in der Geld- und Finanzpolitik gefordert. -- Regeln ; Geldpolitik ; Finanzpolitik …

level of steadystate output, relative to the baseline. The impact of the new liquidity regulation is of a similar order of …