The Design of the Eurosystem's Monetary Policy Instruments

1. Auflage. Softcover version of original hardcover Auflage 2007
ISBN: 978-3-7908-2537-4
Verlag: Physica

Buch, Englisch, 179 Seiten, Previously published in hardcover, Format (B × H): 155 mm x 235 mm, Gewicht: 300 g

Reihe: Contributions to Economics

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. To do 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.

Zielgruppe

Research

Autoren/Hrsg.

Neyer, Ulrike

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein Makroökonomie
• Sozialwissenschaften Politikwissenschaft Internationale Beziehungen Europäische Union, Europapolitik
• Wirtschaftswissenschaften Volkswirtschaftslehre Wirtschaftspolitik, politische Ökonomie
• Sozialwissenschaften Politikwissenschaft Regierungspolitik Wirtschafts- und Finanzpolitik

Inhaltsverzeichnis

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.