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The Eastern Caribbean Central Bank : Challenges to an Effective Lender of Last Resort /
The paper analyzes the challenges for the Eastern Caribbean Central Bank (ECCB) to be an effective lender of last resort (LOLR) as part of a modern banking crisis resolution framework. The main results from the theoretical model of the ECCB's institutional arrangement are that the majority of c...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Autor Corporativo: | |
| Otros Autores: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
2008.
©2008 |
| Colección: | IMF Working Papers ;
Working Paper no. 08/214. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a Druck, Pablo. | |
| 245 | 1 | 4 | |a The Eastern Caribbean Central Bank : |b Challenges to an Effective Lender of Last Resort / |c Druck, Pablo. |
| 260 | |a Washington, D.C. : |b International Monetary Fund, |c 2008. | ||
| 264 | 4 | |c ©2008 | |
| 300 | |a 1 online resource (18 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF Working Papers, |x 2227-8885 ; |v Working Paper No. 08/214 | |
| 500 | |a Available in PDF, ePUB, and Mobi formats on the Internet. | ||
| 520 | 3 | |a The paper analyzes the challenges for the Eastern Caribbean Central Bank (ECCB) to be an effective lender of last resort (LOLR) as part of a modern banking crisis resolution framework. The main results from the theoretical model of the ECCB's institutional arrangement are that the majority of currency union members may veto emergency lending in the case of a member-specific shock, as such lending may endanger the stability of the currency board (by lowering the central bank's international reserves, thus raising devaluation risk). However, in the presence of contagion across countries, all currency union members have a vested interest in liquidity supply from the central bank. A key policy recommendation is that currency union members need a stronger fiscal position to continue to access international financial markets and sustain the exchange rate peg. | |
| 505 | 0 | |a I. Introduction; II. The LOLR Facility and its Monetary Effects; III. The ECCB's Institutional Architecture; IV. The Model; Tables; 1. Numerical Simulation of the Liquidity Assistance Model (Two Countries); Box; 1. The CFA Franc Arrangement; V. Conclusions; 2. Liquidity Assistance Model-Including Foreign Credit Line (FCL) (Two Countries); References. | |
| 504 | |a Includes bibliographical references. | ||
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 610 | 2 | 0 | |a Eastern Caribbean Central Bank. |
| 610 | 2 | 7 | |a Eastern Caribbean Central Bank |2 fast |
| 650 | 0 | |a Lenders of last resort |z Caribbean Area |x Econometric models. | |
| 650 | 0 | |a Banks and banking |z Caribbean Area |x Econometric models. | |
| 650 | 0 | |a Financial crises |z Caribbean Area |x Econometric models. | |
| 650 | 6 | |a Prêteurs en dernier ressort |z Caraïbes (Région) |x Modèles économétriques. | |
| 650 | 7 | |a Banks and banking |x Econometric models |2 fast | |
| 650 | 7 | |a Financial crises |x Econometric models |2 fast | |
| 651 | 7 | |a Caribbean Area |2 fast | |
| 700 | 1 | |a Dehesa, M. |q (Mario) |1 https://id.oclc.org/worldcat/entity/E39PCjM8tqcQXxBDmW4FTvtjwd | |
| 700 | 1 | |a Druck, Pablo. | |
| 710 | 2 | |a International Monetary Fund. | |
| 730 | 0 | |a IMF eLibrary. | |
| 758 | |i has work: |a The Eastern Caribbean Central Bank (Text) |1 https://id.oclc.org/worldcat/entity/E39PCG3dF3TJYXjgPwJ4V7C84q |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 776 | 0 | 8 | |i Print version: |a Druck, Pablo. |t Eastern Caribbean Central Bank: Challenges to an Effective Lender of Last Resort. |d Washington : International Monetary Fund, ©2008 |z 9781451870725 |
| 830 | 0 | |a IMF Working Papers ; |v Working Paper no. 08/214. | |
| 856 | 4 | 0 | |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=1608024 |z Texto completo |
| 938 | |a EBL - Ebook Library |b EBLB |n EBL1608024 | ||
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