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Should Unconventional Balance Sheet Policies Be Added to the Central Bank toolkit? a Review of the Experience so Far, Kotaro Ishi, Kenji Fujita, Mark Stone

Abstract
What is the case for adding the unconventional balance sheet policies used by major central banks since 2007 to the standard policy toolkit? The record so far suggests that the new liquidity providing policies in support of financial stability generally warrant inclusion. As the balance sheet policies aimed at macroeconomic stability were used only by a small number of highly credible central banks facing a lower bound constraint on conventional interest rate policy, they are not relevant for most central banks or states of the world. Best practices of these policies are documented in this paper
Table Of Contents
Cover Page; Title Page; Copyright Page; Contents; Glossary; I. Introduction and Summary; 1. Unconventional Central Bank Balance Sheet Policies; II. Background; III. The Experience with Unconventional Central Bank Balance Sheet Policies; 2. Examples of Central Bank Unconventional Balance Sheet Policies; 1. Accumulated Balance Sheet Changes, Major Central Banks; 2. Maturing and Collateral Composition of Liquidity Support, Reserve Bank of Australia; 3. Liquidity Support to Domestic Funding Markets; 4. Liquidity Support to Domestic Credit Markets
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (116 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9780145526849

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