LEADER 04532nam 2200673 450 001 9910463623803321 005 20180927220628.0 010 $a1-4623-0332-3 010 $a1-4527-8439-6 010 $a9786612841279 010 $a1-282-84127-0 010 $a1-4518-7034-5 035 $a(CKB)3170000000055078 035 $a(EBL)1607960 035 $a(SSID)ssj0000943988 035 $a(PQKBManifestationID)11944101 035 $a(PQKBTitleCode)TC0000943988 035 $a(PQKBWorkID)10982842 035 $a(PQKB)11674834 035 $a(OCoLC)465418142 035 $a(MiAaPQ)EBC1607960 035 $a(EXLCZ)993170000000055078 100 $a20140227h20082008 uy 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aCentral bank financial strength and policy performance $ean econometric evaluation /$fUlrich Klu?h and Peter Stella 210 1$a[Washington, District of Columbia] :$cInternational Monetary Fund,$d2008. 210 4$dİ2008 215 $a1 online resource (69 p.) 225 1 $aIMF Working Papers 225 0$aIMF working paper ;$vWP/08/176 300 $aDescription based upon print version of record. 311 $a1-4519-1487-3 320 $aIncludes bibliographical references. 327 $aCover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Theoretical Considerations and Related Literature; A. Reasons for A Lack of Central Bank Financial Strength; B. Theories Linking Central Bank Financial Strength and Policy Performance; C. Related Empirical Evidence; III. Evaluating Cross-Country Indicators of Central Bank Financial Strength; A. Conceptualization of Central Bank Financial Strength and Data Sources; B. Recent Trends in Central Bank Profitability; 1. Return on Average Assets in a Large Sample of Central Banks, 1995-2005 327 $a2. Median Return on Average Assets in Bankscope Sample 3. Share of Central Banks with High Central Bank Financial Strength; 4. Share of Central Banks with Negative IFS Capital; 5. Central Bank Financial Strength in a Group of Western Hemisphere Countries; 6. Distribution of Reported Sum of Capital and OIN in Percent of Total Assets; 7. Distribution of Reported OIN in Percent of Total Assets; 8. Measures of Central Bank Revenues and Costs; IV. Econometric Analysis; A. Data and Approach; 9. Price Stability and Central Bank Financial Strength 327 $aB. Central Bank Financial Strength and Inflation in a Panel of Latin American and Caribbean Countries 1. Baseline Results with Alternative Control Variables and Excluding Outliers; 2. Fixed Effects Estimates with Alternative Control Variables; 3. Fiscal Variables and Alternative Dependent Variable; 4. Results for Central Bank Financial Strength; 5. Feasible Generalized Least Squares Estimation; C. Central Bank Financial Strength and Inflation in a Large Cross-Section of Countries; 6. Results for the Cross-Section; 10. Relationship Between Central Bank Financial Strength 327 $a7. Accounting for Extreme Cases of Balance Sheet Distortions 11. Relationship Between Central Bank Financial Strength and d; V. Policy Conclusions and Future Research; Appendix: Statistical Information and Figures; References; Footnotes 330 $aThe financial health of central banks and its relation to policy outcomes has recently been recognized as an important policy issue. While case study evidence clearly indicates that weak central bank finances can hamper effective policy implementation, the question of whether central bank financial strength influences policy performance remains controversial. This is due, in part, to a lack of econometric evidence. The paper presents a first step toward filling this gap, by providing a quantitative evaluation of the relationship between measures of central bank financial strength and policy 410 0$aIMF Working Papers 606 $aBanks and banking, Central$xEconometric models 606 $aMonetary policy$xEconometric models 608 $aElectronic books. 615 0$aBanks and banking, Central$xEconometric models. 615 0$aMonetary policy$xEconometric models. 676 $a332.1 676 $a332.11 700 $aKlu?h$b Ulrich H$0860305 701 $aStella$b Peter$0860306 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910463623803321 996 $aCentral bank financial strength and policy performance$91919625 997 $aUNINA