On the Relevance of Open Market Operations

Topics:
Commercial Banking
Tags:
Finance,
Investment,
Liquidity,
Open Market,
University Of Cologne
Source:
University of Cologne

FREE Registration is required

Overview: This paper reexamines the role of open market operations for short-run effects of monetary policy in a New Keynesian framework. The central bank supplies money in exchange for securities that are discounted with the short-run nominal interest rate, while money demand is induced by a liquidity constraint. The paper allows for a legal restriction by which only government bonds are eligible. Their supply is bounded by fiscal policy that is assumed to be Ricardian.

(Is this item miscategorized? Does it need more tags? Let us know.)

Format: PDF | Size: 329KB | Date: Dec 2003 | Pages: 32

Top results from Commercial Banking

White Paper Undressing In Public: Harnessing The Power Of Web 2.0 To Rebuild Trust In Banking
White Paper Do Banks Strategically Time Public Bond Issuance Because of Accompanying Disclosure, Due Diligence, and Investor Scrutiny?
White Paper Nationwide Branching and its Impact on Market Structure, Quality and Bank Performance
White Paper Does Bank Lending Affect Output? Evidence from the U.S. States
White Paper Market Structure and Quality: An Application to the Banking Industry

» View all Commercial Banking listings

advertisement
advertisement
  • Click Here
  • Click Here
  • Click Here
advertisement

Returning users: Log In Here!

Already registered on BNET, TechRepublic, or ZDNet? Simply log in.

Free Membership: Sign Up Now!

Sign up for a free membership today and get instant and unlimited access to one of the largest databases of white papers, webcasts, and casestudies anywhere. Your FREE membership allows you to:

  • Download an unlimited amount of content, including classic and current white papers, case studies, webcasts and more
  • Track content on your chosen topics of interest
  • Receive targeted email alerts when your favorite content is added
  • Save content for future reading
  • Receive our member newsletter

When you register to access this directory, you become a member of BNET. In addition, you allow us to share your information with companies that produce products or services featured in the library--so that such companies may contact you with information and offers regarding their products and services. This enables us to keep the library a free service. As a directory registrant, you will receive a complimentary subscription to the BNET member newsletter, The BNET Report. You can unsubscribe from this newsletter at any time. By clicking the Sign up button, you indicate that you agree to our Terms and Conditions and have read and understand our Privacy Policy (updated).