Reserve Option Mechanism
Rezerv Opsiyonu Mekanizmasi
Koray Alper,
Hakan Kara and
Mehmet Yorukoglu
CBT Research Notes in Economics from Research and Monetary Policy Department, Central Bank of the Republic of Turkey
Abstract:
Recently, Central Bank of Turkey designed new policy instruments in order to reduce the adverse impact of volatile capital flows on macroeconomic and financial stability. This note is aims to introduce one of the new instruments: “Reserve Option Mechanism†(ROM). We describe the transmission channel of the ROM and compare it with alternative instruments. Our analysis concludes that ROM has the potential to be a useful policy tool for macroeconomic and financial stability.
Date: 2012
New Economics Papers: this item is included in nep-mac
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Journal Article: Reserve Options Mechanism (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:tcb:econot:1228
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