The Eurosystem and the U.S. Federal Reserve System follow quite different approaches to the execution of monetary policy. The former institution adopts a "hands-off" approach that largely delegates to depository institutions the task of stabilizing their own liquidity at high frequency. The...

This paper presents the similarities, the differences and the special characteristics of money markets versus the bondd markets.Thence, presented the two markets, and showed the rate of their influence from the applied moetary policies

The rapid growth of credits in Eastern Europe in the recent years poses many questions about the possibility to maintain sufficient liquidity in the banking system and particularly on the development of money markets. Comparing the money interest rate spreads in Romania and Bulgaria a conclusion...

As uncertainty always exists, money hoarding that negatively affects economic activity cannot be completely eliminated, it can only be diminished. The paper argues that the scale of money hoarding varies depending on the type of the financial system, and it is asserted that 1) in the debt-based...