Unconventional Central Bank Measures for Emerging Economies / / Mark Stone, Etienne Yehoue, Kotaro Ishi

• Autore: Stone Mark
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2009
• Descrizione fisica: 1 online resource (63 p.)
• Disciplina: 339.5; 339.53
• Soggetto topico: Monetary policy; Financial crises; Banks and Banking; Finance: General; Foreign Exchange; Portfolio Choice; Investment Decisions; Banks; Depository Institutions; Micro Finance Institutions; Mortgages; Finance; Banking; Currency; Foreign exchange; Domestic liquidity; Liquidity; Liquidity indicators; Economics; Banks and banking
• Soggetto geografico: Brazil
• Altri autori: YehoueEtienne IshiKotaro
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. A Taxonomy Of Unconventional Measures; 1. Central Bank Conventional and Unconventional Measures; III. The Use of Unconventional Measures in Emerging Economies; 2. Emerging Market Country Coverage; 3. Number of Measures Implemented-September 2008 to May 2009; 4. Examples of Unconventional Measures; 1. Emerging Market Countries: Unconventional Measures and GDP; 5. Regression Results; 6. Nominal Anchors and Incidence of Measures ; 7. Indicators of International Financial Market Integration and the Incidence of Foreign Exchange Easing IV. Differences in the Use of Unconventional Measures Between Emerging Economies and Advanced Countries; 2. Monetary Policy Rates, June 2007-June 2009; 3. Cumulative Counts of Conventional and Unconventional Measures, June 2007-June 2009; 4. Emerging Market Countries: Three-month LIBOR-OIS Spread and Onshore Dollar Interest Rates, January 2008-April 2009; 5. Emerging Economies: Foreign Exchange Pressures and Net Private Capital Flows ; 6. Central Bank Assets at Constant Price, January 2007-June 2009/7. TED Spreads; 8. Real GDP Growth; 9. Growth of Real Credit to the Private Sector; 10. Inflation; 11. The Ratio of Credit to the Private Sector to the Reserve Money, Q1 2006-Q1 2009; 12. Long-term Local Currency Ratings; V. Effectiveness of Unconventional Measures for Emerging Economies; 8. United States, Brazil, and Korea: Cost of Local Dollar Financing; VI. Closing Thoughts; Annex 1. Central Bank Conventional Measures; References; Footnotes
• Sommario/riassunto: Unconventional central bank measures are playing a key policy role for many advanced economies in the 2007-09 global crisis. Are they playing a similar role for emerging economies? Emerging economies have widely used unconventional foreign exchange and domestic short-term liquidity easing measures. Their use of credit easing and quantitative easing measures has been much more limited. Thus, unconventional measures are much less important for emerging economies compared to advanced economies in achieving broader macroeconomic objectives. The difference can be attributed to the relatively limited financial stress in emerging economies, their external vulnerabilities and their limited scope for quasifiscal activities.
• Titolo autorizzato: Unconventional Central Bank Measures for Emerging Economies
• ISBN: 1-4623-6585-X; 1-4527-1676-5; 1-282-84428-8; 9786612844287; 1-4518-7373-5
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910788224703321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2009/226