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150128 ||| eng |
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|a 9781451856897
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100 |
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|a Schaechter, Andrea
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245 |
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|a Implementation of Monetary Policy and the Central Bank's Balance Sheet
|c Andrea Schaechter
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260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2001
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300 |
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|a 28 pages
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651 |
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4 |
|a Brazil
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653 |
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|a Depository Institutions
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653 |
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|a Interest rates
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653 |
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|a Credit
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653 |
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|a Banks
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653 |
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|a Finance
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653 |
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|a Banks and banking
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653 |
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|a Monetary economics
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653 |
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|a Financial services
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653 |
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|a Open market operations
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653 |
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|a Short term interest rates
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653 |
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|a Micro Finance Institutions
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653 |
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|a Monetary Policy, Central Banking, and the Supply of Money and Credit: General
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653 |
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|a Mortgages
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653 |
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|a Money
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|a Central banks
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653 |
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|a Money supply
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|a Monetary base
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|a Demand for Money
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|a Central bank balance sheet
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|a Banks and Banking
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|a Money Supply
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653 |
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|a Demand for money
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653 |
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|a Banking
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653 |
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|a Interest Rates: Determination, Term Structure, and Effects
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653 |
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|a Central Banks and Their Policies
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653 |
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|a Money Multipliers
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653 |
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|a Monetary Policy
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653 |
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|a Money and Monetary Policy
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|a eng
|2 ISO 639-2
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|b IMF
|a International Monetary Fund
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|a IMF Working Papers
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028 |
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|a 10.5089/9781451856897.001
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856 |
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|u https://elibrary.imf.org/view/journals/001/2001/149/001.2001.issue-149-en.xml?cid=15362-com-dsp-marc
|x Verlag
|3 Volltext
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|a 330
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|a This paper discusses how the choice of central banks' operating targets influences the use of their monetary policy instruments and how the latter affect the central bank's balance sheet. This is of particular interest, since the monetary conditionality in IMF-supported programs has traditionally been linked to central bank balance sheet items. Quantity targeting tends to be practiced today mostly in countries in which money markets are not yet well-developed or a monetary aggregate is used as the intermediate target. Most other central banks prefer to target a short-term interest rate, which results in day-to-day changes in balance sheet items becoming endogenous
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