Central Bank liquidity management and “unconventional” monetary policies

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Central banks that work under an inflation-targeting regime generally use an interest rate as the main instrument to implement monetary policy. The latter can be denominated conventional monetary policy. Central banks often deviate from this practice, however, and engage in other policies to deal wi...

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Autores principales: García-Cicco, Javier, Kawamura, Enrique
Formato: Artículo
Lenguaje:Inglés
Inglés
Publicado: Latin American and Caribbean Economic Association (LACEA) 2019
Materias:
POLITICA MONETARIA
BANCO CENTRAL
LIQUIDEZ
BANCOS
Acceso en línea:https://repositorio.uca.edu.ar/handle/123456789/2312
Aporte de:
Repositorio Institucional de la Universidad Católica Argentina (UCA) de Universidad Católica Argentina
id I33-R139123456789-2312
record_format dspace
institution Universidad Católica Argentina
institution_str I-33
repository_str R-139
collection Repositorio Institucional de la Universidad Católica Argentina (UCA)
language Inglés
Inglés
topic POLITICA MONETARIA
BANCO CENTRAL
LIQUIDEZ
BANCOS
spellingShingle POLITICA MONETARIA
BANCO CENTRAL
LIQUIDEZ
BANCOS
García-Cicco, Javier
Kawamura, Enrique
Central Bank liquidity management and “unconventional” monetary policies
topic_facet POLITICA MONETARIA
BANCO CENTRAL
LIQUIDEZ
BANCOS
description Central banks that work under an inflation-targeting regime generally use an interest rate as the main instrument to implement monetary policy. The latter can be denominated conventional monetary policy. Central banks often deviate from this practice, however, and engage in other policies to deal with particular situations. As these alternatives depart from the usual practice, they are generally labeled “unconventional” policies. During the recent global financial crisis and recession of 2008–09, central banks around the world and in Latin America, in particular, responded to external shocks in a variety of ways. Canales-Kriljenko and others provide a precise description of how different Latin American central banks reacted to the U.S. financial crisis shock in 2008, with an emphasis on the heterogeneity in the use of unconventional monetary policy instruments. For example, while Colombia and Peru lowered reserve requirements in their banking systems, the Central Bank of Chile relaxed the collateral requirements for repurchase (repo) transactions. Also, Chile and Peru extended the repayment period in repo transactions...
format Artículo
author García-Cicco, Javier
Kawamura, Enrique
author_facet García-Cicco, Javier
Kawamura, Enrique
author_sort García-Cicco, Javier
title Central Bank liquidity management and “unconventional” monetary policies
title_short Central Bank liquidity management and “unconventional” monetary policies
title_full Central Bank liquidity management and “unconventional” monetary policies
title_fullStr Central Bank liquidity management and “unconventional” monetary policies
title_full_unstemmed Central Bank liquidity management and “unconventional” monetary policies
title_sort central bank liquidity management and “unconventional” monetary policies
publisher Latin American and Caribbean Economic Association (LACEA)
publishDate 2019
url https://repositorio.uca.edu.ar/handle/123456789/2312
work_keys_str_mv AT garciaciccojavier centralbankliquiditymanagementandunconventionalmonetarypolicies
AT kawamuraenrique centralbankliquiditymanagementandunconventionalmonetarypolicies
bdutipo_str Repositorios
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