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Under ordinary circumstances, the fiscal implications of central bank policies tend to be seen as relatively minor and … which brought to light the immense power of central bank balance sheet policies as well as their major fiscal implications …. Once the zero lower bound on interest rates is reached, expanding a central bank's balance sheet becomes the central …
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The paper attempts to shed light on the link between monetary policy in large economies with international currencies (the United States and the euro area) and the use of reserve requirements in emerging markets. Using reserve requirement data for 28 emerging markets from 1998 to 2012 we provide...
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The open economy New Keynesian model with flexible exchange rates postulates that the real exchange rate appreciates in response to an asymmetric negative demand shock in a zero lower bound (ZLB) scenario and exacerbates the adverse macroeconomic effects. However, when monetary policy is able to...
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The paper sheds light on the link between the interest rate policy in large advanced economies with international funding and reserve currencies (the United States and the Euro Area) and the use of reserve requirements in emerging markets. Using reserve requirement data for 28 emerging markets...
Persistent link: https://www.econbiz.de/10013060308