Asymmetric Standing Facilities: An Unexploited Monetary Policy Tool

Gabriel Perez Quiros and Hugo Rodriguez Mendizabal

UFAE and IAE Working Papers from Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC)

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: 29
Date: 2009-11-29
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
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http://pareto.uab.es/wp/2009/79509.pdf (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 (2010)
Working Paper: Asymmetric Standing Facilities: An Unexploited Monetary Policy Tool
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Persistent link: https://EconPapers.repec.org/RePEc:aub:autbar:795.09

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