Table of Contents
Economics Research International
Volume 2011 (2011), Article ID 930672, 7 pages
Research Article

Comparative Statics of Central Bank Liquidity Management: Some Insights

Executive Office, Qatar Central Bank, P.O. Box No. 1234, Doha, Qatar

Received 2 December 2010; Accepted 31 May 2011

Academic Editor: Taufiq Choudhry

Copyright © 2011 Indranil Bhattacharyya and Satyananda Sahoo. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Linked References

  1. M. Minegishi and B. Cournède, “Monetary policy responses to the crisis and exit strategies,” OECD Economics Department Working Papers, no. 753, 2010. View at Publisher · View at Google Scholar
  2. W. Poole, “Optimal choice of monetary policy instruments in a simple stochastic macro model,” The Quarterly Journal of Economics, vol. 84, no. 2, pp. 197–216, 1970. View at Google Scholar
  3. U. Bindseil, “Central bank liquidity management: theory and euro area practice,” 2000, View at Google Scholar
  4. J. F. Boschen and L. O. Mills, “The effects of countercyclical monetary policy on money and interest rates: an evaluation of evidence from FOMC documents,” Federal Reserve Bank of Philadelphia Working Paper, vol. 91, no. 20, 1991. View at Google Scholar
  5. J. B. Taylor, “Discretion versus policy rules in practice,” Carnegie-Rochester Conference Series on Public Policy, no. 39, 1993. View at Google Scholar
  6. C. D. Romer and D. H. Romer, “Does monetary policy matter? A new test in the spirit of Friedman and Schwartz,” in NBER Macroeconomics Annual, pp. 121–70, 1989. View at Google Scholar
  7. C. E. V. Borio, “The implementation of monetary policy in industrialized countries,” Bank for International Settlements Economic Papers, no. 47, 1997. View at Google Scholar
  8. European Central Bank, The Monetary Policy of the European Central Bank, 2001.
  9. A. Schaechter, “Implementation of monetary policy and the central bank's balance sheet,” International Monetary Fund Working Paper, no. 149, 2001. View at Google Scholar
  10. U. Bindseil, “Central bank forecasts of liquidity factors: quality, publication and the control of the overnight rate,” The European Central Bank Working Paper, no. 70, 2001. View at Google Scholar
  11. C. E. Walsh, Monetary Theory and Policy, MIT Press, 1998.
  12. C. Montoro and R. Moreno, “The use of reserve requirements as a policy instrument in Latin America,” Bank for International Settlements Quarterly Review, March 2011.
  13. S. Demiralp and O. Jorda, “The transmission of monetary policy via announcement effects,” Department of Economics, University of California, Davis Working Paper Series, vol. 99, no. 6, 1999. View at Google Scholar