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Appendix I. Channels of Transmission of Monetary Policy1

Appendix I. Channels of Transmission of Monetary Policy1 »

Source: Monetary Policy Implementation at Different Stages of Market Development

Series: Occasional Papers

Author(s): Bernard Laurens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 December 2005

ISBN: 9781589064386

Keywords: Money markets, money market, monetary policy, central bank, reserve requirements, money market operations

One key to conducting monetary policy effectively is an efficient transmission mechanism through which monetary policy actions affect aggregate demand in an economy and ultimately i...

Appendix II. Eligible Assets: European Central Bank and Banque de France1

Appendix II. Eligible Assets: European Central Bank and Banque de France1 »

Source: Monetary Policy Implementation at Different Stages of Market Development

Series: Occasional Papers

Author(s): Bernard Laurens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 December 2005

ISBN: 9781589064386

Keywords: Money markets, money market, monetary policy, central bank, reserve requirements, money market operations

The European Central Bank’s System of Eligible Assets The Statute of the European System of Central Banks requires that all Eurosystem credit operations be based on adequate collater...

Appendix III. Enhancing Liquidity Management and Forecasting

Appendix III. Enhancing Liquidity Management and Forecasting »

Source: Monetary Policy Implementation at Different Stages of Market Development

Series: Occasional Papers

Author(s): Bernard Laurens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 December 2005

ISBN: 9781589064386

Keywords: Money markets, money market, monetary policy, central bank, reserve requirements, money market operations

The central bank needs to develop a framework to monitor and forecast short-term liquidity developments in the system on a continuous basis, so that its discretionary operations are...

Appendix IV. Cross-Country Experiences with a Liquidity Surplus

Appendix IV. Cross-Country Experiences with a Liquidity Surplus »

Source: Monetary Policy Implementation at Different Stages of Market Development

Series: Occasional Papers

Author(s): Bernard Laurens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 December 2005

ISBN: 9781589064386

Keywords: Money markets, money market, monetary policy, central bank, reserve requirements, money market operations

In Mexico, the central bank has been using mandatory remunerated deposits to attain a creditor position in the money market. In 1997, Banco de México’s stance in the money market we...

Appendix V. Selected Country Experiences with Interbank Market Development

Appendix V. Selected Country Experiences with Interbank Market Development »

Source: Monetary Policy Implementation at Different Stages of Market Development

Series: Occasional Papers

Author(s): Bernard Laurens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 December 2005

ISBN: 9781589064386

Keywords: Money markets, money market, monetary policy, central bank, reserve requirements, money market operations

The experiences of India, Italy, Korea, Thailand, and Turkey are analyzed regarding the involvement of the central bank in the process, participants in the interbank market, and the...

I Overview

I Overview »

Source: Monetary Policy Implementation at Different Stages of Market Development

Series: Occasional Papers

Author(s): Bernard Laurens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 December 2005

ISBN: 9781589064386

Keywords: Money markets, money market, monetary policy, central bank, reserve requirements, money market operations

Central bankers around the world generally agree on the benefits for the economy of using market-based instruments to implement monetary policy. Following a trend initiated in the 1970s in industrial countri...

II The Growing Reliance on Money Market Operations for Monetary Policy

II The Growing Reliance on Money Market Operations for Monetary Policy »

Source: Monetary Policy Implementation at Different Stages of Market Development

Series: Occasional Papers

Author(s): Bernard Laurens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 December 2005

ISBN: 9781589064386

Keywords: Money markets, money market, monetary policy, central bank, reserve requirements, money market operations

Following a trend initiated in industrial countries in the 1970s (Box 2.1), central banks in emerging market economies and developing countries have moved toward reliance on money market operations for the i...

III Lessons from Country Experiences

III Lessons from Country Experiences »

Source: Monetary Policy Implementation at Different Stages of Market Development

Series: Occasional Papers

Author(s): Bernard Laurens

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 December 2005

ISBN: 9781589064386

Keywords: Money markets, money market, monetary policy, central bank, reserve requirements, money market operations

Macroeconomic Conditions Fiscal dominance has often hampered the effectiveness of money market operations. In some countries (Box 3.1), a lack of fiscal discipline has undermined inv...

IMF Concludes Article IV Consultation with Malta

IMF Concludes Article IV Consultation with Malta »

Source: Malta : Staff Report for the 1999 Article IV Consultation

Volume/Issue: 1999/60

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 14 July 1999

ISBN: 9781451826562

Keywords: fiscal deficit, current account, central bank, current account balance, public debt

This 1999 Article IV Consultation highlights that real GDP growth in Malta in 1997 and 1998 continued the declining trend. The contribution to demand from net exports offset weaker growth of real consumption and in...

IMF Concludes 2001 Article IV Consultation with Malta

IMF Concludes 2001 Article IV Consultation with Malta »

Source: Malta : Staff Report for the 2001 Article IV Consultation

Volume/Issue: 2001/128

Series: IMF Staff Country Reports

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 03 August 2001

ISBN: 9781451826579

Keywords: budget, interest, deficit, central bank, interest rates

Malta showed good economic performance in the past years, reflecting its strengthened policy, and a benign external environment. Executive Directors appreciated the fiscal consolidation and structural reforms, and...