Instruments of Monetary Management: Issues and Country Experiences
International Monetary Fund, Sep 7, 1997 - Business & Economics - 296 pages
Many countries have reformed their monetary instruments over the last few years. Edited by Tomas J.T. Balino and Lorena M. Zamalloa, this volume deals with the design, implementation, and coordination of major monetary policy instruments, highlighting relevant country experiences. In particular, it discusses how to adapt those instruments to the financial environment as well as how to help this environment to develop.
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adjust aggregate allocation amount Assets and Remuneration balance bank reserves bank’s banking system bids borrowing capital central bank central bank credit collateral commercial banks credit auctions credit ceilings deﬁcit demand deposit liabilities difﬁculties discount window domestic currency effect Eligible Assets excess reserves exchange rate ﬁnancial markets ﬁnancial system ﬁnancing ﬁscal ﬂexibility ﬂow foreign exchange swaps government debt implementation increase indirect instruments inﬂation inﬂuence institutions instrument of monetary interbank market interest rate International Monetary Fund issues lending Level and Reserve liquid asset requirement liquidity ratio loans Malaysia market development market instruments market-based maturity Measurement and Maintenance ments Mexico monetary control monetary instruments monetary policy money market money supply National Bank open market operations open-market-type operations paper period portfolio Prudential purposes reﬁnance reform repurchase agreements required reserves Reserve Base reserve requirements risk secondary market short-term signiﬁcant speciﬁc standing facilities target tions transactions treasury bills U.S. dollars vault cash