The Design of the Eurosystem’s Monetary Policy Instruments
Publication year: 2007
ISBN: 978-3-7908-1978-6
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This book evaluates monetary policy instruments of the Eurosystem against a number of requirements. Main results of this analysis are that different costs of obtaining liquidity directly from the central bank can explain the existence of an interbank market in the euro area and the positive spread between the interbank market rate and the repo rate.
Subject: Business and Economics, Euro area, Eurosystem, Interbank Market, Liquidity Management, Monetary Policy, Monetary Policy Instruments
