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The Design of the Eurosystem's Monetary Policy Instruments
The creation of a single monetary currency and a single monetary policy in the euro area has faced extraordinary challenges, among them the design of suitable monetary policy instruments. This book evaluates monetary policy instruments of the Eurosystem against a number of requirements. For doing so...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Heidelberg :
Physica-Verlag HD : Imprint: Physica,
2007.
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| Edición: | 1st ed. 2007. |
| Colección: | Contributions to Economics,
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| Temas: | |
| Acceso en línea: | Texto Completo |
MARC
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| 024 | 7 | |a 10.1007/978-3-7908-1978-6 |2 doi | |
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| 100 | 1 | |a Neyer, Ulrike. |e author. |4 aut |4 http://id.loc.gov/vocabulary/relators/aut | |
| 245 | 1 | 4 | |a The Design of the Eurosystem's Monetary Policy Instruments |h [electronic resource] / |c by Ulrike Neyer. |
| 250 | |a 1st ed. 2007. | ||
| 264 | 1 | |a Heidelberg : |b Physica-Verlag HD : |b Imprint: Physica, |c 2007. | |
| 300 | |a IX, 179 p. |b online resource. | ||
| 336 | |a text |b txt |2 rdacontent | ||
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| 490 | 1 | |a Contributions to Economics, |x 2197-7178 | |
| 505 | 0 | |a Monetary Policy Instruments of the Eurosystem -- Stylized Facts and First Explanations -- Base Model: Banks' Liquidity Management and Interbank Market Equilibrium -- Remuneration of Required Reserves at the Current Repo Rate -- Remuneration of Required Reserves at an Average Rate -- Overlapping Maturities of Central Bank Credits -- Implications for the Eurosystem's Operational Framework -- Summary. | |
| 520 | |a The creation of a single monetary currency and a single monetary policy in the euro area has faced extraordinary challenges, among them the design of suitable monetary policy instruments. This book evaluates monetary policy instruments of the Eurosystem against a number of requirements. For doing so, a theoretical model framework is developed which brings together the monetary policy activities of a central bank and the liquidity management of banks considering the main characteristics and institutional features of the euro area. Main results of this analysis are that different costs of obtaining liquidity directly from the central bank can explain the existence of an interbank market in the euro area and the positive spread between the interbank market rate and the repo rate; that the redesign of the Eurosystem's instruments in 2004 has to be evaluated positively and that a further change to the minimum reserve system would enhance the flexibility of monetary policy in the euro area. | ||
| 650 | 0 | |a Macroeconomics. | |
| 650 | 0 | |a Europe-Economic integration. | |
| 650 | 0 | |a Economic policy. | |
| 650 | 1 | 4 | |a Macroeconomics and Monetary Economics. |
| 650 | 2 | 4 | |a European Economic Integration. |
| 650 | 2 | 4 | |a Economic Policy. |
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| 773 | 0 | |t Springer Nature eBook | |
| 776 | 0 | 8 | |i Printed edition: |z 9783790825374 |
| 776 | 0 | 8 | |i Printed edition: |z 9783790822854 |
| 776 | 0 | 8 | |i Printed edition: |z 9783790819779 |
| 830 | 0 | |a Contributions to Economics, |x 2197-7178 | |
| 856 | 4 | 0 | |u https://doi.uam.elogim.com/10.1007/978-3-7908-1978-6 |z Texto Completo |
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| 950 | |a Economics and Finance (R0) (SpringerNature-43720) | ||