) insurance schemes, and the distortions introduced by central bank lending of last resort (LOLR), the authors favor decentralized …

these operations. Despite a vast literature on the topic, central bank approaches and practices vary considerably. In this …

rates compared to the earlier UMP announcements. The impact on bank equity, however, is less significant in part due to …

strategy of the European Central Bank, the intermediate targets that this should entail, and implications for accountability …

This paper discusses the case for a money pillar in the European Central Bank''s (ECB) monetary policy strategy. Time …

", albeit of limited size. The value of such services depends on the credibility of the central bank, which can be accumulated …

This paper considers the central bank mandate with respect to financial stability and identifies the links to the …

This paper shows that a central bank, by announcing and committing ex-ante to a bailout policy that is contingent on …

This paper proposes a stylized sequencing of banking supervision and bank restructuring measures designed to complement … because the initial cost of bank restructuring can be offset, partly, through the budgetary effects of improved enterprise …

Financial markets are eager for any signal of monetary policy from the People's Bank of China (PBC). The importance of …