acquired by central banks, and changes in the interest rate paid on reserves. We first extend a standard New Keynesian model to … allow a role for the central bank’s balance sheet in equilibrium determination and then consider the connections between … the strict sense and targeted asset purchases by a central bank, arguing that, according to our model, while the former is …

Remarks at the Central Reserve Bank of Peru on the Foreign Sovereign Immunities Act and Central Bank Immunity in the …

Remarks at the Central Reserve Bank of Peru on the Foreign Sovereign Immunities Act and Central Bank Immunity in the …

Remarks at the Central Reserve Bank of Peru on the Foreign Sovereign Immunities Act and Central Bank Immunity in the …

One of the most serious problems that a central bank in an emerging market economy can face is the sudden reversal of … portfolios held by central banks can significantly improve the efficiency of the anti-sudden stop mechanism. We illustrate this …

Remarks at the Central Reserve Bank of Peru on the Foreign Sovereign Immunities Act and Central Bank Immunity in the …

That central banks should hold foreign currency reserves is a key tenet of the post-Bretton Woods international …

Many central banks-particularly those in Japan and the emerging Asian nations-have been building up their holdings of …, but they can also lead to investment losses for the central banks. The large share of dollar assets among reserve holdings … has made foreign central banks important players in U.S. financial markets. …