The Design of the Eurosystem’s Monetary Policy Instruments

• Main Author: Neyer, Ulrike (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic eBook
• Language: English
• Published: Heidelberg : Physica-Verlag HD, 2007.
• Series: Contributions to Economics,
• Subjects: Macroeconomics.; European Economic Community literature.; Economic policy.; Economics.; Macroeconomics/Monetary Economics//Financial Economics.; European Integration.; Economic Policy.

The creation of a single monetary currency and a single monetary policy in the euro area has faced extraordinary challenges, among them the design of suitable monetary policy instruments. This book evaluates monetary policy instruments of the Eurosystem against a number of requirements. For doing so...

Table of Contents:

• Monetary Policy Instruments of the Eurosystem
• Stylized Facts and First Explanations
• Base Model: Banks’ Liquidity Management and Interbank Market Equilibrium
• Remuneration of Required Reserves at the Current Repo Rate
• Remuneration of Required Reserves at an Average Rate
• Overlapping Maturities of Central Bank Credits
• Implications for the Eurosystem’s Operational Framework
• Summary.