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Limits of monetary policy autonomy by East Asian debtor central banks
Löffler, Axel; Schnabl, Gunther; Schobert, Franziska - 2012
thereby increase surplus liquidity. East Asian central banks with more flexible exchange rate regimes also face surplus … liquidity that mainly emanates from past accumulation of foreign reserves. We show based on an augmented Barro …-Gordon-type central bank loss function that in both cases surplus liquidity limits monetary policy autonomy. In case of fixed exchange …
Persistent link: https://www.econbiz.de/10009500749
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Limits of Monetary Policy Autonomy by East Asian Debtor Central Banks
Loeffler, Axel - 2013
thereby increase surplus liquidity. East Asian central banks with more flexible exchange rate regimes also face surplus … liquidity that mainly emanates from past accumulation of foreign reserves. We show based on an augmented Barro …-Gordon-type central bank loss function that in both cases surplus liquidity limits monetary policy autonomy. In case of fixed exchange …
Persistent link: https://www.econbiz.de/10013091528
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Limits of monetary policy autonomy of East Asian Central Banks
Löffler, Axel; Schnabl, Gunther; Schobert, Franziska - In: Applied economics quarterly 62 (2016) 2, pp. 187-204
Persistent link: https://www.econbiz.de/10011701265
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The Euro-Dollar market, liquidity and global reserves
Argy, Victor - 1978
Persistent link: https://www.econbiz.de/10000038961
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The international monetary system and the available international policy options for emerging countries
Kim, So-yŏng - In: Seoul journal of economics 28 (2015) 2, pp. 199-211
Persistent link: https://www.econbiz.de/10011311652
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Dollar illiquidity and central bank swap arrangements during the global financial crisis
Rose, Andrew; Spiegel, Mark - In: Journal of international economics 88 (2012) 2, pp. 326-340
Persistent link: https://www.econbiz.de/10009691854
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The provision of global liquidity : the global reserve system
Ocampo Gaviria, José Antonio - 2014
This paper analyses three major problems of the current international monetary system: the asymmetric-adjustment problem, dependence on the monetary policy of the main reserveissuing country, and the large demand for self-insurance by developing countries. It then proposes two reform routes:...
Persistent link: https://www.econbiz.de/10010419488
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Dollar Illiquidity and Central Bank Swap Arrangements During the Global Financial Crisis
Rose, Andrew Kenan - 2011
While the global financial crisis was centered in the United States, it led to a surprising appreciation in the dollar, suggesting global dollar illiquidity. In response, the Federal Reserve partnered with other central banks to inject dollars into the international financial system. Empirical...
Persistent link: https://www.econbiz.de/10013121027
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International Liquidity Management : Sterilization Policy in Illiquid Financial Markets
Caballero, Ricardo J. - 2000
the international liquidity management aspect of sterilization over the traditional monetary one, a re-focus that seems … liquidity management issues more generally …
Persistent link: https://www.econbiz.de/10012471010
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International Liquidity Management : Sterilization Policy in Illiquid Financial Markets
Caballero, Ricardo J.; Krishnamurthy, Arvind - 2021
the international liquidity management aspect of sterilization over the traditional monetary one, a re-focus that seems … liquidity management issues more generally …
Persistent link: https://www.econbiz.de/10013245510