Search Results - subject:"Monetary policy implementation"

A general framework to assess the smooth implementation of monetary policy : an application to the introduction of the digital euro

De Nicola, Annalisa; Lo Russo, Michelina - 2025

Persistent link: https://www.econbiz.de/10015173458

Interest rate control and the transmission of monetary policy

Holm-Hadulla, Fédéric; Pool, Sebastiaan - 2025

We study how short-term interest rate volatility affects the transmission of monetary policy. To identify exogenous changes in volatility, we exploit the pronounced heteroskedasticity visible in the time-series of euro area short-term rates over the past two and a half decades. Interacting the...

Persistent link: https://www.econbiz.de/10015340281

Central bank digital currency and monetary policy implementation

Caccia, Enea; Tapking, Jens; Vlassopoulos, Thomas - 2024

monetary policy. Monetary policy implementation could be affected if the introduction of the retail CBDC changes the volume of …, central banks might need to adjust their reserve supply and other features of their monetary policy implementation, depending …, for example, on whether they use a floor or a corridor system for monetary policy implementation. In the specific case of …

Persistent link: https://www.econbiz.de/10014565151

The use of the Eurosystem's monetary policy instruments and its monetary policy implementation framework in 2022 and 2023

Hudepohl, Tom (contributor); Malderez, Suzanne (contributor) - 2024

discusses these developments and provides a full overview of the Eurosystem's monetary policy implementation from 2022-23. …

Persistent link: https://www.econbiz.de/10015123029

Central bank digital currency and monetary policy implementation

Caccia, Enea; Tapking, Jens; Vlassopoulos, Thomas - 2024

Persistent link: https://www.econbiz.de/10014517259

The use of the Eurosystem's monetary policy instruments and its monetary policy implementation framework in 2022 and 2023

Hudepohl, Tom (ed.); Malderez, Suzanne (ed.) - 2024

discusses these developments and provides a full overview of the Eurosystem's monetary policy implementation from 2022-23. …

Persistent link: https://www.econbiz.de/10015052097

Central bank balance sheets under foreign exchange accumulation: Insights from endogenous money theory and monetary policy implementation

Bozhinovska, Simona - 2023

The present article proposes to draw on the recent experiences of many central banks of advanced economies and the evolution of their operational frameworks in the new context of increased domestic liquidity, when analysing the operations of central banks that engage in exchange rate management...

Persistent link: https://www.econbiz.de/10014329438

Monetary policy implementation with ample reserves

Afonso, Gara; Kim, Kyungmin; Martin, Antoine; Nosal, Ed; … - 2023

We offer a parsimonious model of the reserve demand to study the tradeoffs associated with various monetary policy … implementation frameworks. Prior to the 2007-09 financial crisis, many central banks supplied scarce reserves to execute their …

Persistent link: https://www.econbiz.de/10014388424

The optimal supply of central bank reserves under uncertainty

Afonso, Gara; La Spada, Gabriele; Mertens, Thomas; … - 2023

This paper provides an analytically tractable theoretical framework to study the optimal supply of central bank reserves when the demand for reserves is uncertain and nonlinear. We fully characterize the optimal supply of central bank reserves and associated market equilibrium. We find that the...

Persistent link: https://www.econbiz.de/10014480469

Reviewing Canada's monetary policy implementation system: Does the evolving environment support maintaining a floor system?

Gravelle, Toni; Morrow, Ron; Witmer, Jonathan - 2023

At the onset of the pandemic, the Bank of Canada transitioned its framework for monetary policy implementation from a … frameworks for monetary policy implementation. …

Persistent link: https://www.econbiz.de/10014541761