Neyer The Design of the Eurosystem's Monetary Policy Instruments
2007
ISBN: 978-3-7908-1978-6
Verlag: Physica
Format: PDF
Kopierschutz: 1 - PDF Watermark
E-Book, Englisch, 179 Seiten, eBook
Reihe: Contributions to Economics
ISBN: 978-3-7908-1978-6
Verlag: Physica
Format: PDF
Kopierschutz: 1 - PDF Watermark
The creation of a single monetary currency and a single monetary policy in the euro area has faced extraordinary challenges, among them the design of suitable monetary policy instruments. This book evaluates monetary policy instruments of the Eurosystem against a number of requirements. To do so, a theoretical model framework is developed which brings together the monetary policy activities of a central bank and the liquidity management of banks considering the main characteristics and institutional features of the euro area.
Zielgruppe
Research
Autoren/Hrsg.
Weitere Infos & Material
Monetary Policy Instruments of the Eurosystem.- Stylized Facts and First Explanations.- Base Model: Banks’ Liquidity Management and Interbank Market Equilibrium.- Remuneration of Required Reserves at the Current Repo Rate.- Remuneration of Required Reserves at an Average Rate.- Overlapping Maturities of Central Bank Credits.- Implications for the Eurosystem’s Operational Framework.- Summary.