Asymmetric Standing Facilities: An Unexploited Monetary Policy Tool

Pérez-Quirós, Gabriel and Hugo Rodriguez Mendizabal
Authors registered in the RePEc Author Service: Gabriel Perez Quiros

No 7789, CEPR Discussion Papers from C.E.P.R. Discussion Papers

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: Fine tuning operations; Monetary policy implementation; Overnight interest rates; Standing facilities (search for similar items in EconPapers)
JEL-codes: E43 E52 E58 (search for similar items in EconPapers)
Date: 2010-04
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Citations: View citations in EconPapers (4)

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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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