The Reserve Bank’s new foreign exchange intervention policy
... by trend following behaviour rather than fundamentals, then it is possible intervention could have an impact on exchange rates if intervention disrupts the signals that trend followers look for. A relatively modest transaction by the central bank at the right time may be sufficient to slow or even pr ...
... by trend following behaviour rather than fundamentals, then it is possible intervention could have an impact on exchange rates if intervention disrupts the signals that trend followers look for. A relatively modest transaction by the central bank at the right time may be sufficient to slow or even pr ...
DETERMINANTS OF PREMIUMS PAID IN EUROPEAN BANKING
... geographical area where the M&A was carried out and by the moment when it took place, as Cheng, Gup and Wall (1989) remark. This fact means the results of works performed cannot be applied to any country or institution. On the one hand, the works performed focus on the analysis of the transactions c ...
... geographical area where the M&A was carried out and by the moment when it took place, as Cheng, Gup and Wall (1989) remark. This fact means the results of works performed cannot be applied to any country or institution. On the one hand, the works performed focus on the analysis of the transactions c ...
Provincial Government Banks: A Case Study of
... transfer of funds to and from regions in response to competitive pressures. If anyone of these banks attempted to pursue a non-competitive policy and granted one region terms on loans or interest rates on deposits that were not in keeping with the basic economic situation in that region, other banks ...
... transfer of funds to and from regions in response to competitive pressures. If anyone of these banks attempted to pursue a non-competitive policy and granted one region terms on loans or interest rates on deposits that were not in keeping with the basic economic situation in that region, other banks ...
Money Demand, the Equilibrium Interest Rate, and Monetary Policy
... with the other half. At mid-month, he could sell the bond and deposit the $600 into his checking account. • Month over month, his average money holdings would be $300. ...
... with the other half. At mid-month, he could sell the bond and deposit the $600 into his checking account. • Month over month, his average money holdings would be $300. ...
Money Demand, the Equilibrium Interest Rate, and Monetary Policy
... with the other half. At mid-month, he could sell the bond and deposit the $600 into his checking account. • Month over month, his average money holdings would be $300. ...
... with the other half. At mid-month, he could sell the bond and deposit the $600 into his checking account. • Month over month, his average money holdings would be $300. ...
Monetary Policy Transmission (Page a)
... bank cannot undertake discretionary monetary policy to influence money supply with the objective of affecting major macroeconomic aggregates like prices, employment and output. This being the case, the question naturally arises as to why we should be interested in the study of the transmission mecha ...
... bank cannot undertake discretionary monetary policy to influence money supply with the objective of affecting major macroeconomic aggregates like prices, employment and output. This being the case, the question naturally arises as to why we should be interested in the study of the transmission mecha ...
Interpreting the Unconventional U.S. Monetary Policy of 2007–09
... raised suspicions about the value of the underlying assets. Because many banks held these securities, either directly or through special investment vehicles, doubts were cast over the state of banks’ balance sheets generally. Through 2007 the fear became widespread that many banks might fail, and in ...
... raised suspicions about the value of the underlying assets. Because many banks held these securities, either directly or through special investment vehicles, doubts were cast over the state of banks’ balance sheets generally. Through 2007 the fear became widespread that many banks might fail, and in ...
Seigniorage Revenue and Monetary Policy
... Before reporting any statistics, it is important to note that the reserve requirement ratio presents a measurement issue. In principal, the average marginal reserve requirement ratio— the ratio that applies to the next dollar deposited—would be measured.10 In practice, however, measuring this is no ...
... Before reporting any statistics, it is important to note that the reserve requirement ratio presents a measurement issue. In principal, the average marginal reserve requirement ratio— the ratio that applies to the next dollar deposited—would be measured.10 In practice, however, measuring this is no ...
Download paper (PDF)
... as McCallum (1995) has proposed.2 Another way to deal with the time-inconsistency problem is to appoint conservative central bankers, as suggested by Rogoff (1985), who put more weight on controlling inflation relative to output than does the general public and thus will resist inflationary policie ...
... as McCallum (1995) has proposed.2 Another way to deal with the time-inconsistency problem is to appoint conservative central bankers, as suggested by Rogoff (1985), who put more weight on controlling inflation relative to output than does the general public and thus will resist inflationary policie ...
NBER WORKING PAPER SERIES DO CAPITAL ADEQUACY REQUIREMENTS MATTER FOR MONETARY POLICY?
... Central bankers know that Þnancial intermediation is important for achieving macroeconomic stability. Without a functioning banking system, an economy will grind to a halt. It is the job of regulators and supervisors to ensure that the Þnancial system functions smoothly. But monetary policy and prud ...
... Central bankers know that Þnancial intermediation is important for achieving macroeconomic stability. Without a functioning banking system, an economy will grind to a halt. It is the job of regulators and supervisors to ensure that the Þnancial system functions smoothly. But monetary policy and prud ...
Bank and sovereign risk feedback loops
... the materialization of public guarantees.7 Second, if contingent liabilities materialize, …scal costs are likely to be substantial. Next, the risk premium increases even if guarantees remain unused, raising borrowing costs for both the sovereign and the private sector (sovereign ceiling).8 Last, the ...
... the materialization of public guarantees.7 Second, if contingent liabilities materialize, …scal costs are likely to be substantial. Next, the risk premium increases even if guarantees remain unused, raising borrowing costs for both the sovereign and the private sector (sovereign ceiling).8 Last, the ...
Government Ownership of Banking
... between government ownership of banks and various macroeconomic aggregates need to be interpreted with caution, since they may reflect a common driving force. We then proceed to show both theoretically and empirically that government ownership of banks is much more a symptom of institutional weaknes ...
... between government ownership of banks and various macroeconomic aggregates need to be interpreted with caution, since they may reflect a common driving force. We then proceed to show both theoretically and empirically that government ownership of banks is much more a symptom of institutional weaknes ...
annual report - Beige Capital
... of the Redenomination of the Cedi, among other roles played in key initiatives rolled out by the Bank of Ghana towards the reform of the banking sector. ...
... of the Redenomination of the Cedi, among other roles played in key initiatives rolled out by the Bank of Ghana towards the reform of the banking sector. ...
Private Sector Financing and the role of Risk
... Although the rapid GDP growth that occurred in Azerbaijan in the mid‐2000s was primarily driven by the oil sector, it ultimately led to strong growth in all sectors of the economy, benefiting SMEs as well as oil companies. Oil wealth helped mitigate the negative impact of the global fin ...
... Although the rapid GDP growth that occurred in Azerbaijan in the mid‐2000s was primarily driven by the oil sector, it ultimately led to strong growth in all sectors of the economy, benefiting SMEs as well as oil companies. Oil wealth helped mitigate the negative impact of the global fin ...
What Factors Affect the 90-Day Bank Bill Rate?
... park them overnight at a rate slightly below the cash rate. Standing facilities are not a new concept per se. They were widely used during the days of the operation of the gold standard. However, in those days the standing facilities were one-sided in the sense that the central bank would only provi ...
... park them overnight at a rate slightly below the cash rate. Standing facilities are not a new concept per se. They were widely used during the days of the operation of the gold standard. However, in those days the standing facilities were one-sided in the sense that the central bank would only provi ...
Chapter 29: Monetary Policy in Canada
... We have just explained why the Bank of Canada chooses to implement its monetary policy by targeting the interest rate rather than by trying to influence the money supply directly. But how does the Bank do this, and which interest rate (among many) does it target? As we discussed in Chapter 28, there ...
... We have just explained why the Bank of Canada chooses to implement its monetary policy by targeting the interest rate rather than by trying to influence the money supply directly. But how does the Bank do this, and which interest rate (among many) does it target? As we discussed in Chapter 28, there ...
Financial Crisis in Iceland
... issue notes and coins and manage the foreign exchange reserves, was assigned to the Central Bank, and it acted as a banker to the government and was for a period allowed to grant short-term credit to the Treasury. The Central Bank was also given power to regulate interest rates and also to influenc ...
... issue notes and coins and manage the foreign exchange reserves, was assigned to the Central Bank, and it acted as a banker to the government and was for a period allowed to grant short-term credit to the Treasury. The Central Bank was also given power to regulate interest rates and also to influenc ...
NBER WORKING PAPER SERIES CAN CENTRAL BANK TRANSPARENCY GO TOO FAR?
... the inflation target is unable to send immediate signals to both the public and the markets as to whether the current stance of money is appropriate. Because as equation 5 and 6 illustrate, optimal monetary policy involves “inflation forecast targeting”, publication of forecasts provides immediate ...
... the inflation target is unable to send immediate signals to both the public and the markets as to whether the current stance of money is appropriate. Because as equation 5 and 6 illustrate, optimal monetary policy involves “inflation forecast targeting”, publication of forecasts provides immediate ...
measuring the services of commercial banks in the
... Applied to banks, the usual treatment of interest flows would yield a negative contribution to national income. Moreover, much of the value of the services that banks provide to their customers would be missed by the NIPAs. To avoid these results, an imputation for implicit financial services produc ...
... Applied to banks, the usual treatment of interest flows would yield a negative contribution to national income. Moreover, much of the value of the services that banks provide to their customers would be missed by the NIPAs. To avoid these results, an imputation for implicit financial services produc ...
Chapter 12national Income, Accounting and the Balance of Payments
... A. If the demand for money increases, a budget surplus will result, and the money supply will have to decrease to maintain equilibrium. B. If the demand for money increases, a budget surplus will result, and the money supply will have to increase to maintain equilibrium. C. If the demand for money i ...
... A. If the demand for money increases, a budget surplus will result, and the money supply will have to decrease to maintain equilibrium. B. If the demand for money increases, a budget surplus will result, and the money supply will have to increase to maintain equilibrium. C. If the demand for money i ...
Booms and banking crises - Bank for International Settlements
... Rare, large enough, adverse financial shocks can account for the first two properties (see e.g. Gertler and Kiyotaki, 2010). However, by implying that banking crises may break out at any time in the business cycle, they do not seem in line with the fact that the occurrence of a banking crisis is clo ...
... Rare, large enough, adverse financial shocks can account for the first two properties (see e.g. Gertler and Kiyotaki, 2010). However, by implying that banking crises may break out at any time in the business cycle, they do not seem in line with the fact that the occurrence of a banking crisis is clo ...
