Central Bank Balance Sheet and Policy Implications

Pornpinun Chantapacdepong, Nuttathum Chutasripanich and Bovonvich Jindarak
Additional contact information
Nuttathum Chutasripanich: Bank of Thailand
Bovonvich Jindarak: Bank of Thailand

No 2012-07, Working Papers from Monetary Policy Group, Bank of Thailand

Abstract: Recently, weak central bank financial positions, especially of emerging economies, have brought into the public spotlight whether it will constrain or obstruct the policy implementation in the long run or not. The country case studies and statistical performance showed that the central bank capital erosion does not directly relate to the policy effectiveness, but it creates the vulnerabilities to the monetary policy process. The key factor helping achieve the policy objectives, even with the losses or negative capital is “central bank credibility”. The policy choices to reduce such vulnerabilities are also discussed in this paper.

Keywords: Central; Bank; Balance; Sheet; and; Policy; Implications (search for similar items in EconPapers)
JEL-codes: E47 E52 E58 (search for similar items in EconPapers)
Pages: 56 pages
Date: 2012-07
New Economics Papers: this item is included in nep-cba, nep-mac, nep-mon and nep-sea
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.bot.or.th/Thai/MonetaryPolicy/ArticleA ... onPaper/dp072012.pdf (application/pdf)
Our link check indicates that this URL is bad, the error code is: 404 Not Found

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bth:wpaper:2012-07

Access Statistics for this paper

More papers in Working Papers from Monetary Policy Group, Bank of Thailand Contact information at EDIRC.
Bibliographic data for series maintained by Pornpinun Chantapacdepong ( this e-mail address is bad, please contact ).