Refinance instruments : lessons from their use in some industrialized countries /

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Bibliographic Details
Author / Creator:	Laurens, Bernard, author.
Imprint:	Washington, D.C. : International Monetary Fund, Monetary and Exchange Affairs Department, 1994.
Description:	1 online resource (iv, 27 pages) : illustrations.
Language:	English
Series:	IMF working paper ; WP/94/51 IMF working paper ; WP/94/51.
Subject:	Monetary policy. Banks and banking, Central. Banks of issue. Banks of issue. Banks and banking, Central. Monetary policy.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12500994

Hidden Bibliographic Details
Other authors / contributors:	International Monetary Fund. Monetary and Exchange Affairs Department, issuing body.
ISBN:	1451984073 9781451984071 9781451984071 146232682X 9781462326822 1452778531 9781452778532 1281600318 9781281600318 9786613781000 6613781002 9781451847048 1451847041
Notes:	Available in PDF, ePUB, and Mobi formats on the Internet. English.
Summary:	Annotation Many central banks around the world are gradually shifting from a system of direct controls towards the implementation of monetary policy through market-oriented instruments, including refinance facilities. This paper reviews the use of refinance instruments in a sample of industrialized countries, and discusses how central banks use them to influence short-term interest rates and to manage banks reserves. Some lessons are suggested for their implementation in developing countries or economies in transition.

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