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The resurgence of interest in currency boards prompts reconsideration of one of the Irish experience. The authors evaluate the institutional arrangements which underpinned the Irish pound for a half-century. While the regime did have a credibility which led to low interest rates and a degree of...
Persistent link: https://www.econbiz.de/10011159072
The resurgence of interest in currency boards prompts reconsideration of one of the Irish experience. The authors evaluate the institutional arrangements which underpinned the Irish pound for a half-century. While the regime did have a credibility which led to low interest rates and a degree of...
Persistent link: https://www.econbiz.de/10011159104
Contemporary views often support the idea that a high level of central bank independence, together with a clear mandate for it to restrain inflation, are important institutional devices for maintaining price stability. The meaning and policy implications of central bank independence are...
Persistent link: https://www.econbiz.de/10010762469
In the general context of controlling inflation, it is suggested that it may be useful to look back at how demand management worked in a small open economy. Trinidad and Tobago established a central bank in the middle of the 1960s and achieved some noteworthy initial successes with the new...
Persistent link: https://www.econbiz.de/10010765212
In the general context of controlling inflation, it is suggested that it may be useful to look back at how demand management worked in a small open economy. Trinidad and Tobago established a central bank in the middle of the 1960s and achieved some noteworthy initial successes with the new...
Persistent link: https://www.econbiz.de/10010765257
Major differences between national financial systems might make a common monetary policy difficult. As within Europe, Germany and the United Kingdom differ most with respect to their financial systems, the present paper addresses its topic under the assumption that the United Kingdom is already...
Persistent link: https://www.econbiz.de/10005840365
Although microfinance has played a significant role in providing a wide range of financial products and services, many microfinance institutions (MFIs) in Kenya still face major challenges with efficiently and effectively delivering microfinance services in the country. As the demand for these...
Persistent link: https://www.econbiz.de/10015213412
Exploiting confidential data on individual German bank balance-sheets, I analyse what characterises a bank that opts to apply negative interest rates to corporate deposits. The results suggest that banks that are highly exposed to the negative interest rate policy (NIRP), i.e. funded by a larger...
Persistent link: https://www.econbiz.de/10013412977
As the operator of a systemically important payment system (SIPS), the Eurosystem has the responsibility of regularly assessing the resilience of the Trans-European Automated Real-time Gross Settlement Express Transfer System (TARGET2) to various types of risks, as set out in the Principles for...
Persistent link: https://www.econbiz.de/10013480189
When comparing the transparency of the ECB now with the transparency of the ECB about one decade ago, we notice that transparency still can be improved in a few ways. In particular the disclosure related to the ways decisions are reached and the disclosure on its policy (what is the envisioned...
Persistent link: https://www.econbiz.de/10014522130