Central bank losses: origins, conceptual issues, and measurement problems

Mario O. Teijeiro

No 293, Policy Research Working Paper Series from The World Bank

Abstract: Central bank losses usually originate, the author explains, when a bank takes on other functions besides its normal role, such as subsidized loans to priority sectors, rescues of troubled financial institutions, or takeovers of private or public debt. This paper attempts to review the issues related to Central Banks'quasi fiscal deficits. In the first section, a taxonomic description of origins of quasi fiscal deficits is made. The second section explores the relation between economic and accounting losses. The third section analyzes inflation adjustment and net lending treatment which are relevant to the definition of non financial public sector deficits. Finally, alternative ways of calculating the central banks'quasi fiscal losses are reviewed.

Keywords: Economic Theory&Research; Banks&Banking Reform; Economic Stabilization; International Terrorism&Counterterrorism; Environmental Economics&Policies (search for similar items in EconPapers)
Date: 1989-10-31
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:wbk:wbrwps:293

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