A Note on Repurchase Agreements, Bank Behaviour and Monetary Policy

1986 ◽  
Vol 54 (4) ◽  
pp. 276-278
Author(s):  
J. THORNTON
Keyword(s):  
Monetary Policy ◽  
Repurchase Agreements

scholarly journals The influence of indirect monetary tools on price and output: the case of Jordan (1993-2013)

2017 ◽  
Vol 12 (1) ◽  
pp. 8-13
Author(s):  
Usama R. Alqalawi ◽  
Hail A. Jemel ◽  
Ahmad A. Alwaked ◽  
Rasha M.S. Istaiteyeh
Keyword(s):  
Monetary Policy ◽  
Money Supply ◽  
Time Series Data ◽  
Jel Classification ◽  
Series Data ◽  
Policy Tools ◽  
Open Market ◽  
Output Level ◽  
Repurchase Agreements ◽  
The Impact

This research aims to identify the main monetary policy tools in Jordan, then, to estimate their effect on price and output level. A time series data covering the period between 1993 and 2013 were utilized to estimate the targeted models using two-step regression. Firstly, the authors measured the impact of indirect policy tools on money supply and, secondly, they determined the impact of money supply on price and output levels. Results show that open market operations of the Central Bank of Jordan through issuance of certificates of deposit, especially at the beginning of 1993 and the repurchase agreements have been effective in influencing the money supply in Jordan. Unfortunately, this policy was not able to control the real or nominal output level even though it has an effect on the price level. Keywords: monetary policy, open market operations, required reserve ratio, discount rate, price and output. JEL Classification: E31, E42, E52, E58

Wertpapierpensionsgeschäfte. Empirische Analyse der Wirkung des Zinstendersatzes auf die Marktzinsen / Repurchase Agreements. An Empirical Analysis of the Impact on Market Interest Rates

1995 ◽  
Vol 214 (2) ◽  
Author(s):  
Johannes Jaenicke
Keyword(s):  
Monetary Policy ◽  
Interest Rate ◽  
Interest Rates ◽  
Granger Causality ◽  
Bond Market ◽  
Strong Impact ◽  
Empirische Analyse ◽  
The Interest Rate ◽  
Repurchase Agreements ◽  
The Impact

SummaryThis paper examines the influence of monetary policy on market interest rates by testing for Granger-causality between the rates for interest rate tender and the interbank call money rates and the bond-market rates respectively. The direkt Granger test and a modified Hsiao test are used and a possible structural brake is taken into account. The results did not support the hypothesis that the Bundesbank influences the market interest rates with the rates for repurchase agreements but indicate that the interbank call money rates have a strong impact on the interest rate fixing of the Bundesbank.

Imperfect Knowledge and Monetary Policy

2006 ◽  
Author(s):  
Vítor Gaspar ◽  
Otmar Issing ◽  
Oreste Tristani ◽  
David Vestin
Keyword(s):  
Monetary Policy ◽  
Imperfect Knowledge

Dampak Kebijakan Moneter Pada Output Di Negara-Negara ASEAN Tahun 1980-2014

2017 ◽  
Vol 4 (1) ◽  
pp. 58-70
Author(s):  
Nur Widiastuti
Keyword(s):  
Monetary Policy ◽  
Interest Rate ◽  
Fixed Effects ◽  
Empirical Studies ◽  
Negative Relationship ◽  
Least Square ◽  
Fixed Effects Model ◽  
State Data ◽  
Ordinary Least Square ◽  
The Impact

The Impact of monetary Policy on Ouput is an ambiguous. The results of previous empirical studies indicate that the impact can be a positive or negative relationship. The purpose of this study is to investigate the impact of monetary policy on Output more detail. The variables to estimatate monetery poicy are used state and board interest rate andrate. This research is conducted by Ordinary Least Square or Instrumental Variabel, method for 5 countries ASEAN. The state data are estimated for the period of 1980 – 2014. Based on the results, it can be concluded that the impact of monetary policy on Output shown are varied.Keyword: Monetary Policy, Output, Panel Data, Fixed Effects Model

Strategy and Tactics of Monetary Policy during the World Economic Crisis

2010 ◽  
pp. 4-20 ◽  
Author(s):  
A. Nekipelov ◽  
M. Golovnin
Keyword(s):  
Monetary Policy ◽  
Economic Crisis ◽  
Exchange Rate Policy ◽  
Industrial Countries ◽  
Policy Goals ◽  
The World ◽  
Rate Policy ◽  
World Economic ◽  
World Economic Crisis ◽  
Qualitative Changes

The paper analyzes the qualitative changes in monetary policy goals and instruments during the world economic crisis of 2007-2009 in industrial countries and Russia; it represents the authors view on Russian monetary policy goals and results on different stages of crisis development. On the basis of the analysis the authors conclude on the necessity of active exchange rate policy in Russia, while developing interest rate instruments, and implementation of some exchange restrictions to prevent crisis contagion in the future.

On the Exchange Rate Policy

2010 ◽  
pp. 21-28
Author(s):  
K. Yudaeva
Keyword(s):  
Monetary Policy ◽  
Exchange Rate ◽  
Inflation Targeting ◽  
Exchange Rate Policy ◽  
Institutional Changes ◽  
Crisis Period ◽  
Local Currency ◽  
High Inflation ◽  
Rate Policy ◽  
The Exchange Rate

The level of trust in the local currency in Russia is very low largely because of relatively high inflation. As a result, Bank of Russia during crisis times can not afford monetary policy loosening and has to fight devaluation expectations. To change the situation in the post-crisis period Russia needs to live through a continuous period of low inflation. Modified inflation targeting can help achieve such a result. However, it should be amended with institutional changes, particularly development of hedging instruments.

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