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Wholesale Payments and Financial Discipline, Efficiency, and Liquidity

Folkerts-Landau, D. F. I. - 1997

Properly designed wholesale payments system can make a significant contribution to enhancing market discipline in the financial sector, reducing the risk of systemic disturbance and permitting a less extensive safety net for financial institutions. The objective of these reforms has been to...

Persistent link: https://www.econbiz.de/10014403300

Cash use across countries and the demand for central bank digital currency

Tanai Khiaonarong; Humphrey, David B. - 2019

The level and trend in cash use in a country will influence the demand for central bank digital currency (CBDC). While access to digital currency will be more convenient than traveling to an ATM, it only makes CBDC like a bank debit card-not better. Demand for digital currency will thus be weak...

Persistent link: https://www.econbiz.de/10012009449

Falling use of cash and demand for retail central bank digital currency

Tanai Khiaonarong; Humphrey, David B. - 2022

Cash use in most countries is falling slowly. On the margin, younger adults favor cash substitutes over cash. For older adults it is the reverse. Revealed preference tied to a changing population age structure seems to be the main influence on the demand for cash and why it is falling. Cash use...

Persistent link: https://www.econbiz.de/10013170282

Fintech and payments regulation : analytical framework

Tanai Khiaonarong; Goh, Terry - 2020

Financial technology (Fintech) has prompted authorities to consider their potential financial stability benefits, risks, and effective regulation. Recent developments suggest that regulatory approaches and their legal foundations need to augment entity-based regulation with increasing focus on...

Persistent link: https://www.econbiz.de/10012251408

Treasury Bills and/Or Central Bank Bills for Absorbing Surplus Liquidity : The Main Considerations

Nyawata, Obert - 2012

for draining excess liquidity in the banking system. While recognizing that there are practical reasons for using central …

Persistent link: https://www.econbiz.de/10014396940

From Lombard Street to Avenida Paulista : Foreign Exchange Liquidity Easing in Brazil in Response to the Global Shock of 2008-09

Stone, Mark Richard - 2009

The provision of foreign exchange liquidity by emerging market central banks during the global shock of 2008-09 departs … from the domestic liquidity lender of last resort role described by Bagehot in his classic ""Lombard Street."" This paper … documents and analyzes the foreign exchange liquidity providing measures of the Banco Central do Brasil (BCB) in response to …

Persistent link: https://www.econbiz.de/10014402073

Inflation Targeting in Dollarized Economies

Leiderman, Leonardo - 2006

The shift to inflation targeting has contributed to the relatively low inflation observed in some emerging market economies although, as noted by many economists, the preconditions required for a successful implementation were not in place. The existence of managed exchange rate regimes, a...

Persistent link: https://www.econbiz.de/10014402285

Managing Systemic Liquidity Risk in Financially Dollarized Economies

Levy Yeyati, Eduardo - 2005

This paper evaluates ways to protect highly dollarized banking systems from systemic liquidity runs (such as the ones … the use of limited dollar liquidity to ensure the convertibility of transactional deposits with a mechanism that … automatically limits the convertibility of dollar term deposits once triggered by a predetermined decline in banks'' liquidity …

Persistent link: https://www.econbiz.de/10014404199

Monetary Aggregation : A Reconciliation of Theory and Central Bank Practice

Pradhan, Mahmood - 1994

, monetary and fiscal issues, global liquidity, and national and international economic developments …

Persistent link: https://www.econbiz.de/10014395970

Central Banks Quasi-Fiscal Policies and Inflation

Park, Seok Gil - 2012

stability, little theory is available to assess the consequences of such measures. This paper offers a theoretical model with …

Persistent link: https://www.econbiz.de/10014396938