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Autore: |
Saxegaard Magnus
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Titolo: |
Excess liquidity and effectiveness of monetary policy : evidence from Sub-Saharan Africa / / prepared by Magnus Saxegaard
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Pubblicazione: | [Washington, D.C.], : International Monetary Fund, African Dept., 2006 |
Edizione: | 1st ed. |
Descrizione fisica: | 1 online resource (52 p.) |
Soggetto topico: | Monetary policy - Africa, Sub-Saharan - Econometric models |
Liquidity (Economics) - Econometric models | |
Note generali: | "May 2006." |
Nota di bibliografia: | Includes bibliographical references. |
Nota di contenuto: | ""Contents""; ""I. INTRODUCTION""; ""II. SOME STYLIZED FACTS ON RESERVE REQUIREMENTS AND EXCESS LIQUIDITY IN AFRICAN COUNTRIES""; ""III. MEASUREMENT OF EXCESS LIQUIDITY""; ""IV. EXCESS BANK LIQUIDITY AND MONETARY POLICY TRANSMISSION MECHANISM""; ""V. SUMMARY AND POLICY IMPLICATIONS""; ""References"" |
Sommario/riassunto: | This paper examines the pattern of excess liquidity in sub-Saharan Africa and its consequences for the effectiveness of monetary policy. The paper argues that understanding the consequences of excess liquidity requires quantifying the extent to which commercial bank holdings of excess liquidity exceed levels required for precautionary purposes. It proposes a methodology for measuring this quantity and uses it to estimate a nonlinear structural VAR model for the CEMAC region, Nigeria and Uganda. The study suggests that excess liquidity weakens the monetary policy transmission mechanism and thus the ability of monetary authorities to influence demand conditions in the economy. |
Titolo autorizzato: | Excess Liquidity and Effectiveness of Monetary Policy ![]() |
ISBN: | 1-4623-3669-8 |
1-4527-8344-6 | |
1-283-51394-3 | |
1-4519-0909-8 | |
9786613826398 | |
Formato: | Materiale a stampa ![]() |
Livello bibliografico | Monografia |
Lingua di pubblicazione: | Inglese |
Record Nr.: | 9910825684303321 |
Lo trovi qui: | Univ. Federico II |
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