Asymmetric Standing Facilities: An Unexploited Monetary Policy Tool

This paper analyzes the role of standing facilities in the determination of the demand for reserves in the overnight money market. In particular, we study how the asymmetric nature of the deposit and lending facilities could be used as a powerful policy tool for the simultaneous control of prices and quantities in the market for daily funds.

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Year of publication:	2010-04
Authors:	Pérez-Quirós, Gabriel ; Rodriguez Mendizabal, Hugo
Institutions:	C.E.P.R. Discussion Papers
Subject:	fine tuning operations \| Monetary policy implementation \| overnight interest rates \| standing facilities

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Extent:	application/pdf
Series:	CEPR Discussion Papers.
Type of publication:	Book / Working Paper
Notes:	Number 7789
Classification:	E43 - Determination of Interest Rates; Term Structure Interest Rates ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008468569