Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. Monetary and Capital Markets Department.
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| ISBN: | 1283294907
9781283294904
1451913648
9781451913644
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| Notes: | Includes bibliographical references (pages 24-25).
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
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | Central bank financial strength is positively associated with good policy performance. Financially weak central banks generate losses which undermine macroeconomic stability and call into question the credibility of their policies. In assessing central bank financial strength a careful examination of the policy regime and the volatility of the economic environment is necessary. Conventional measures of private enterprise financial strength- profitability and capital-can be very misleading when applied to central banks. The way in which a central bank balance sheet is strengthened matters. Providing the central bank with marketable government debt that can be used to develop a money market that in turn may become the locus of central bank monetary operations serves both to directly strengthen the institution and improve the quality of the environment in which it operates, thereby facilitating the attainment of its ultimate performance objectives.
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| Other form: | Print version: Stella, Peter, 1957- Central bank financial strength, policy constraints and inflation. Washington, D.C. : International Monetary Fund, Monetary and Capital Markets Dept., 2008
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| Standard no.: | 10.5089/9781451913644.001
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