Narrow search
Showing 1 - 10 of 933,896
Cover Image
Interest on reserves and the flexibility of monetary policy in the euro area
Neyer, Ulrike - 2007
This paper shows that remunerating required reserves can increase the flexibility of monetary policy. The remuneration at the current repo rate implies constant net marginal interest costs of holding required reserves. This allows the central bank also to change the rate also within a reserve...
Persistent link: https://www.econbiz.de/10010206405
Cover Image
Demand for Central Bank Reserves and Monetary Policy Implementation Frameworks : The Case of the Eurosystem
Åberg, Pontus; Corsi, Marco; Grossmann-Wirth, Vincent; … - 2021
’ demand for reserves. We find that by implementing a floor system, the Eurosystem has eliminated the opportunity costs of …
Persistent link: https://www.econbiz.de/10013212033
Cover Image
Central bank collateral frameworks
Nyborg, Kjell G. - 2015
collateral framework of the Eurosystem as a basis of illustration and case study, the paper brings to light the functioning … forces and discipline. The paper also emphasizes the important role of ratings and government guarantees in the Eurosystem …
Persistent link: https://www.econbiz.de/10011296085
Cover Image
Demand for central bank reserves and monetary policy implementation frameworks: The case of the Eurosystem
Åberg, Pontus; Corsi, Marco; Grossmann-Wirth, Vincent; … - 2021
' demand for reserves. We find that by implementing a floor system, the Eurosystem has eliminated the opportunity costs of …
Persistent link: https://www.econbiz.de/10012661664
Cover Image
Excess liquidity in the euro area : sources and remedies
Dąbrowski, Marek - 2023
framework of the European Central Bank (ECB)’s monetary policy from the scarce reserves system (SRS) to the abundant reserves … system (ARS). To eliminate excess liquidity and return to the SRS, the ECB must intensify quantitative tightening, which is … Economic and Monetary Affairs (ECON) ahead of the Monetary Dialogue with the ECB President on 25 September 2023. …
Persistent link: https://www.econbiz.de/10014491928
Cover Image
Crisis management at cross-roads : challenges facing cross-border financial institutions at the EU level : a joint publication with the Centre for European Policy Studies (CEPS)
Ayadi, Rym (ed.); Lierman, Frank (ed.); Balling, Morten (ed.) - Conference "Crisis Management at Cross-Roads" <2009, …; … - 2010
On 16th November 2009, SUERF, CEPS and the Belgian Financial Forum coorganized a conference "Crisis management at cross-roads" in Brussels. All papers in the present volume are based on contributions at the conference and the SUERF Annual Lecture which followed the event.
Persistent link: https://www.econbiz.de/10011706117
Cover Image
Monetary policy implementation with ample reserves
Afonso, Gara; Kim, Kyungmin; Martin, Antoine; Nosal, Ed; … - 2023
We offer a parsimonious model of the reserve demand to study the tradeoffs associated with various monetary policy implementation frameworks. Prior to the 2007-09 financial crisis, many central banks supplied scarce reserves to execute their interest-rate policies. In response to the crisis,...
Persistent link: https://www.econbiz.de/10014335130
Cover Image
The Potlatch as Fractional Reserve Banking
Johnsen, D. Bruce - 2016
Despite often-abundant natural resources, so-called “Indian Country” suffers the worst systemic poverty in North America today. Much of the economic story of Indian Country is one of hopelessly limited property rights naively designed to protect its wards. Whether encumbrances on fee simple...
Persistent link: https://www.econbiz.de/10012998344
Cover Image
ECB monetary operations and the interbank repo market
Dunne, Peter G.; Fleming, Michael J.; Zholos, Andrey - 2013
We examine the relationship between monetary policy operations and interbank borrowing and lending of funds using sovereign bonds as collateral. We first establish that, in the precrisis period, there are important but rather weak relations between these funding sources and that this...
Persistent link: https://www.econbiz.de/10010222894
Cover Image
The use of the Eurosystem's monetary policy instruments and operational framework since 2012
Alvarez, Inmaculada; Casavecchia, Fabio; De Luca, Marino; … - 2017
This paper provides a comprehensive overview of the use of the Eurosystem's monetary policy instruments and the … operational framework from the third quarter of 2012 until the first quarter of 2016. The paper reviews the context of Eurosystem …, patterns of reserve fulfilment, outright asset purchase programmes, as well as the impact of the ECB's monetary policy …
Persistent link: https://www.econbiz.de/10011642679