Author: Armando Perez-GeaPublisher:
ISBN:
Category : Banks and banking, Central
Languages : en
Pages : 194
Book Description
Three Essays on Central Banking and Credit Policy in Mexico
Author: Armando Perez-GeaPublisher:
ISBN:
Category : Banks and banking, Central
Languages : en
Pages : 194
Book Description
Central Bank Balances and Reserve Requirements
Author: Mr.Simon GrayPublisher: International Monetary Fund
ISBN: 1455217905
Category : Business & Economics
Languages : en
Pages : 57
Book Description
Most central banks oblige depository institutions to hold minimum reserves against their liabilities, predominantly in the form of balances at the central bank. The role of these reserve requirements has evolved significantly over time. The overlay of changing purposes and practices has the result that it is not always fully clear what the current purpose of reserve requirements is, and this necessarily complicates thinking about how a reserve regime should be structured. This paper describes three main purposes for reserve requirements - prudential, monetary control and liquidity management - and suggests best practice for the structure of a reserves regime. Finally, the paper illustrates current practices using a 2010 IMF survey of 121 central banks.
Three Essays in International Economics Applied to the Mexican Economy
Author: Pablo Javier KleinUnder-Rewarded Efforts
Author: Santiago Levy AlgaziPublisher: Inter-American Development Bank
ISBN: 1597823058
Category : Business & Economics
Languages : en
Pages : 323
Book Description
Why has an economy that has done so many things right failed to grow fast? Under-Rewarded Efforts traces Mexico’s disappointing growth to flawed microeconomic policies that have suppressed productivity growth and nullified the expected benefits of the country’s reform efforts. Fast growth will not occur doing more of the same or focusing on issues that may be key bottlenecks to productivity growth elsewhere, but not in Mexico. It will only result from inclusive institutions that effectively protect workers against risks, redistribute towards those in need, and simultaneously align entrepreneurs’ and workers’ incentives to raise productivity.
The Political Economy of Central-bank Independence
Author: Sylvester C. W. EijffingerPublisher: International Finance Section Department of Econ Ton Univers
ISBN:
Category : Business & Economics
Languages : en
Pages : 100
Book Description
Foreign Exchange Intervention Rules for Central Banks: A Risk-based Framework
Author: Romain LafarguettePublisher: International Monetary Fund
ISBN: 1513569406
Category : Business & Economics
Languages : en
Pages : 33
Book Description
This paper presents a rule for foreign exchange interventions (FXI), designed to preserve financial stability in floating exchange rate arrangements. The FXI rule addresses a market failure: the absence of hedging solution for tail exchange rate risk in the market (i.e. high volatility). Market impairment or overshoot of exchange rate between two equilibria could generate high volatility and threaten financial stability due to unhedged exposure to exchange rate risk in the economy. The rule uses the concept of Value at Risk (VaR) to define FXI triggers. While it provides to the market a hedge against tail risk, the rule allows the exchange rate to smoothly adjust to new equilibria. In addition, the rule is budget neutral over the medium term, encourages a prudent risk management in the market, and is more resilient to speculative attacks than other rules, such as fixed-volatility rules. The empirical methodology is backtested on Banco Mexico’s FXIs data between 2008 and 2016.
Three Essays on Inflation and Stabilization
Author: Abraham Everardo VelaPublisher:
ISBN:
Category : Economic stabilization
Languages : en
Pages : 348
Book Description
Journal of Economic Literature
Author: Dissertation Abstracts International
Author: Publisher:
ISBN:
Category : Dissertations, Academic
Languages : en
Pages : 628
Book Description
How Do Central Banks Talk?
Author: Alan S. BlinderPublisher: Centre for Economic Policy Research
ISBN: 9781898128601
Category : Business & Economics
Languages : en
Pages : 150
Book Description
Not long ago, secrecy was the byword in central banking circles, but now the unmistakable trend is towards greater openness and transparency. This, the third Geneva Report on the World Economy, describes and evaluates some of the changes in how central banks talk to the markets, to the press, and to the public. The report first assesses the case for transparency ? defined as providing sufficient information for the public to understand the policy regime ? and concludes that it is very strong, based on both policy effectiveness and democratic accountability. It then examines what should be the content of communication and argues that central banks ought to spell out their long-run objectives and methods. It then investigates the link between the decision-making process and central bank communication, drawing a distinction between individualistic and collegial committees. The report concludes with a review of the communications strategies of some of the main central banks.