Afonso, Gara; Kim, Kyungmin; Martin, Antoine; Nosal, Ed; … - 2023
implementation frameworks. Prior to the 2007-09 financial crisis, many central banks supplied scarce reserves to execute their … their balance sheets and, by extension, the amount of reserves they supplied. When the crisis and its aftereffects passed …, central banks were in a position to choose a framework that has reserves that are (1) abundant-by keeping their balance sheets …