/irreversible increase in the nominal stock of fiat base money which respects the intertemporal budget constraint of the consolidated Central … of base money and permanent QE - an irreversible, monetised open market purchase by the Central Bank of non …

Central Bank and Treasury - the State. Examples are a temporary fiscal stimulus funded permanently through an increase in the … stock of base money and permanent QE - an irreversible, monetized open market purchase by the Central Bank of non …

misallocation of resources and financial instability. Climate riskadjusted refinancing operations (CAROs) conducted by the central … depend on the climate risk exposure of the assets held by the borrowing bank. If private agents and the central bank have … the central bank's perspective, suboptimal and may lead to financial instability. We find that an appropriate design of …

to retail rates is on the low side, reflecting the shallowness of money markets and the manner in which GCC central banks …

proposed new EU financial stability arrangements. The paper analyzes the European Central Bank’s response to the global …