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.

MoreLess

Year of publication:	2009-11-29
Authors:	Quirós, Gabriel Pérez ; Mendizábal, Hugo Rodríguez
Institutions:	Departament d'Economia i Història Econòmica, Universitat Autònoma de Barcelona
Subject:	Monetary policy implementation \| standing facilities \| overnight interest rates \| fine-tuning operations

freely available

Full text |

More access options

Check Google Scholar

In German libraries (KVK)

I need help

More details

Extent:	application/pdf
Series:	UFAE and IAE Working Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	2 pages long
Classification:	E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies ; E43 - Determination of Interest Rates; Term Structure Interest Rates
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008509526