I estimate the policy stance on the monetary policy rate decision, which stands for the intensity of the committee’s consensus to adjust the policy rate, with the minutes of the Bank of Korea from 1999 to May 2018. The policy stance is estimated more directly without relying on external...

This paper describes segregated balance accounts (SBAs), a concept for a new type of account that could provide increased competition for deposits, reduce system-wide balance sheet costs, and improve the transmission of monetary policy by facilitating greater pass-through of interest on excess...