Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. African Department.
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| ISBN: | 1283513943
9781283513944
1451909098
9781451909098
1451863756
9781451863758
1462336698
9781462336692
1452783446
9781452783444
9786613826398
6613826391
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| Digital file characteristics: | text file
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| Notes: | Title from title screen (viewed October 6, 2009).
"May 2006."
Includes bibliographical references (pages 47-50).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
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| Summary: | 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.
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| Other form: | Print version: Saxegaard, Magnus. Excess liquidity and effectiveness of monetary policy. [Washington, D.C.] : International Monetary Fund, African Dept., 2006
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| Standard no.: | 10.5089/9781451909098.001
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