Central Banking without Central Bank Money:
Given the rapidly declining demand for central bank reserves and their gradual replacement in wholesale payments by alternative forms of money-clearinghouse moneyand treasury money-this paper discusses whether the complete extinction of base money could undermine monetary control. It argues that suc...
Gespeichert in:
1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
1999
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Schriftenreihe: | IMF Working Papers
Working Paper No. 99/92 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 URL des Erstveröffentlichers |
Zusammenfassung: | Given the rapidly declining demand for central bank reserves and their gradual replacement in wholesale payments by alternative forms of money-clearinghouse moneyand treasury money-this paper discusses whether the complete extinction of base money could undermine monetary control. It argues that such concerns are misplaced since central banks can target interest rates and inflation even in the absence of base money. The paper explores implications for current and future central banking, including monetary and foreign exchange operations, lender of last resort, coordination between public debt and monetary management, and design of operating rules in currency boards |
Beschreibung: | 1 Online-Ressource (42 p) |
ISBN: | 145185157X 9781451851571 |
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spelling | Ize, Alain Verfasser aut Central Banking without Central Bank Money Ize, Alain Washington, D.C International Monetary Fund 1999 1 Online-Ressource (42 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 99/92 Given the rapidly declining demand for central bank reserves and their gradual replacement in wholesale payments by alternative forms of money-clearinghouse moneyand treasury money-this paper discusses whether the complete extinction of base money could undermine monetary control. It argues that such concerns are misplaced since central banks can target interest rates and inflation even in the absence of base money. The paper explores implications for current and future central banking, including monetary and foreign exchange operations, lender of last resort, coordination between public debt and monetary management, and design of operating rules in currency boards Online-Ausg Henckel, Timo Sonstige oth Kovanen, Arto Sonstige oth http://elibrary.imf.org/view/IMF001/01160-9781451851571/01160-9781451851571/01160-9781451851571.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Ize, Alain Central Banking without Central Bank Money |
title | Central Banking without Central Bank Money |
title_auth | Central Banking without Central Bank Money |
title_exact_search | Central Banking without Central Bank Money |
title_exact_search_txtP | Central Banking without Central Bank Money |
title_full | Central Banking without Central Bank Money Ize, Alain |
title_fullStr | Central Banking without Central Bank Money Ize, Alain |
title_full_unstemmed | Central Banking without Central Bank Money Ize, Alain |
title_short | Central Banking without Central Bank Money |
title_sort | central banking without central bank money |
url | http://elibrary.imf.org/view/IMF001/01160-9781451851571/01160-9781451851571/01160-9781451851571.xml |
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