Central bank financial strength, policy constraints and inflation /

Central bank financial strength, policy constraints and inflation /

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Bibliographic Details
Author / Creator:Stella, Peter, 1957- author.
Imprint:Washington, D.C. : International Monetary Fund, Monetary and Capital Markets Dept., 2008.
Description:1 online resource (25 pages) : illustrations
Language:English
Series:IMF working paper, 2227-8885 ; WP/08/49
IMF working paper ; WP/08/49.
Subject:
Banks and banking, Central -- Econometric models.
Monetary policy -- Econometric models.
Banks and banking, Central -- Econometric models.
Monetary policy -- Econometric models.
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/12496681
Hidden Bibliographic Details
Other authors / contributors:International Monetary Fund. Monetary and Capital Markets Department.
ISBN:1283294907
9781283294904
1451913648
9781451913644
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
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Print version record.
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.
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
Standard no.:10.5089/9781451913644.001
Table of Contents:
  • Acronyms; I. Introduction; II. Concepts of Central Bank Financial Strength and Policy Performance; Figures; 1. Impact of Volatility and Nature and Ambitiousness of Policy Regime on Probability of a Recapitalization; III. Overview of Central Bank Financial Strength in a Variety of Countries; Tables; 1. United States: Consolidated Federal Reserve System; 2. Bank of Canada; 3. European Central Bank; IV. Evidence for the Impact of Financial Strength on Policy Performance; 2. Other Items Net to Total Assets, 1992; 3. Other Items Net to Total Assets, 1997.
  • 4. Other Items Net to Total Assets, 20025. Other Items Net to Total Assets, 2005; 6. Ratio of Other Items Net to Total Assets; 4. Inflation Performance and Financial Strength; V. Enhancing Central Bank Financial Strength: Methods and Instruments; VI. Concluding Remarks; References.

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