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| Author | : Armando Perez-Gea |
| Publisher | : |
| Total Pages | : 194 |
| Release | : 1993 |
| Genre | : Banks and banking, Central |
| ISBN | : |
| Author | : Romain Lafarguette |
| Publisher | : International Monetary Fund |
| Total Pages | : 33 |
| Release | : 2021-02-12 |
| Genre | : Business & Economics |
| ISBN | : 1513569406 |
This paper presents a rule for foreign exchange interventions (FXI), designed to preserve financial stability in floating exchange rate arrangements. The FXI rule addresses a market failure: the absence of hedging solution for tail exchange rate risk in the market (i.e. high volatility). Market impairment or overshoot of exchange rate between two equilibria could generate high volatility and threaten financial stability due to unhedged exposure to exchange rate risk in the economy. The rule uses the concept of Value at Risk (VaR) to define FXI triggers. While it provides to the market a hedge against tail risk, the rule allows the exchange rate to smoothly adjust to new equilibria. In addition, the rule is budget neutral over the medium term, encourages a prudent risk management in the market, and is more resilient to speculative attacks than other rules, such as fixed-volatility rules. The empirical methodology is backtested on Banco Mexico’s FXIs data between 2008 and 2016.
| Author | : Mr.Simon Gray |
| Publisher | : International Monetary Fund |
| Total Pages | : 57 |
| Release | : 2011-02-01 |
| Genre | : Business & Economics |
| ISBN | : 1455217905 |
Most central banks oblige depository institutions to hold minimum reserves against their liabilities, predominantly in the form of balances at the central bank. The role of these reserve requirements has evolved significantly over time. The overlay of changing purposes and practices has the result that it is not always fully clear what the current purpose of reserve requirements is, and this necessarily complicates thinking about how a reserve regime should be structured. This paper describes three main purposes for reserve requirements - prudential, monetary control and liquidity management - and suggests best practice for the structure of a reserves regime. Finally, the paper illustrates current practices using a 2010 IMF survey of 121 central banks.
| Author | : Pablo Javier Klein |
| Publisher | : |
| Total Pages | : 404 |
| Release | : 2002 |
| Genre | : |
| ISBN | : |
| Author | : Santiago Levy Algazi |
| Publisher | : Inter-American Development Bank |
| Total Pages | : 323 |
| Release | : 2018-07-11 |
| Genre | : Business & Economics |
| ISBN | : 1597823058 |
Why has an economy that has done so many things right failed to grow fast? Under-Rewarded Efforts traces Mexico’s disappointing growth to flawed microeconomic policies that have suppressed productivity growth and nullified the expected benefits of the country’s reform efforts. Fast growth will not occur doing more of the same or focusing on issues that may be key bottlenecks to productivity growth elsewhere, but not in Mexico. It will only result from inclusive institutions that effectively protect workers against risks, redistribute towards those in need, and simultaneously align entrepreneurs’ and workers’ incentives to raise productivity.
| Author | : Abraham Everardo Vela |
| Publisher | : |
| Total Pages | : 348 |
| Release | : 1993 |
| Genre | : Economic stabilization |
| ISBN | : |
| Author | : Sylvester C. W. Eijffinger |
| Publisher | : International Finance Section Department of Econ Ton Univers |
| Total Pages | : 100 |
| Release | : 1996 |
| Genre | : Business & Economics |
| ISBN | : |
| Author | : |
| Publisher | : |
| Total Pages | : 628 |
| Release | : 2008 |
| Genre | : Dissertations, Academic |
| ISBN | : |
| Author | : |
| Publisher | : |
| Total Pages | : 372 |
| Release | : 2004 |
| Genre | : Economics |
| ISBN | : |
| Author | : Peter Conti-Brown |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 589 |
| Release | : |
| Genre | : Banks and banking, Central |
| ISBN | : 1784719226 |
Central banks occupy a unique space in their national governments and in the global economy. The study of central banking however, has too often been dominated by an abstract theoretical approach that fails to grasp central banks’ institutional nuances. This comprehensive and insightful Handbook, takes a wider angle on central banks and central banking, focusing on the institutions of central banking. By 'institutions', Peter Conti-Brown and Rosa Lastra refer to the laws, traditions, norms, and rules used to structure central bank organisations. The Research Handbook on Central Banking’s institutional approach is one of the most interdisciplinary efforts to consider its topic, and includes chapters from leading and rising central bankers, economists, lawyers, legal scholars, political scientists, historians, and others.
