Asymmetric standing facilities: an unexploited monetary policy tool

Gabriel Perez-Quiros () and Hugo Rodriguez Mendizabal
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Gabriel Perez-Quiros: Banco de España
Authors registered in the RePEc Author Service: Gabriel Perez Quiros

No 1004, Working Papers from Banco de España

Abstract: This paper analyzes the role of standing facilities in the determination of the demand for reserves in the overnight money market. In particular, we study how the asymmetric nature of the deposit and lending facilities could be used as a powerful policy tool for the simultaneous control of prices and quantities in the market for daily funds.

Keywords: Monetary policy implementation; standing facilities; overnight interest rates; fine tuning operations (search for similar items in EconPapers)
JEL-codes: E43 E52 E58 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2010-03
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
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Citations: View citations in EconPapers (4)

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http://www.bde.es/f/webbde/SES/Secciones/Publicaci ... o/10/Fic/dt1004e.pdf First version, March 2010 (application/pdf)

Related works:
Journal Article: Asymmetric Standing Facilities: An Unexploited Monetary Policy Tool (2012)
Working Paper: Asymmetric Standing Facilities: An Unexploited Monetary Policy Tool (2010)
Working Paper: Asymmetric Standing Facilities: An Unexploited Monetary Policy Tool (2009)
Working Paper: Asymmetric Standing Facilities: An Unexploited Monetary Policy Tool
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Persistent link: https://EconPapers.repec.org/RePEc:bde:wpaper:1004

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