| Description |
1 online resource |
| Series |
IMF working paper ; no. 13/186 |
|
IMF working paper ; no. 13/186.
|
| Contents |
Cover; Abstract; Contents; I. Introduction; Figures; 1. The IS/LM model; II. Price of Money and Price of Collateral; 2. General Collateral/Repo Rates in Selected Eurozone Countries (left) and; Boxes; 1. Pledged Collateral and Money Aggregates; III. Collateral and Monetary Policy-via the IS/LM framework; 3. Contraction in Pledged Collateral Market and IS/LM Shifts; 4. Real Interest Rates via Taylor Rule With/Without Fed's Balance Sheet; 2. Velocity of Pledged Collateral (2012); IV. Central Banks and Repo Markets; Table1. Definition of Terms Used; 5. The Financial Plumbing; V. Conclusion |
| Summary |
Financial lubrication in markets is indifferent to margin posting via money or collateral; the relative price(s) of money and collateral matter. Some central banks are now a major player in the collateral markets. Analogous to a coiled spring, the larger the quantitative easing (QE) efforts, the longer the central banks will impact the collateral market and associated repo rate. This may have monetary policy and financial stability implications since the repo rates map the financial landscape that straddles the bank/nonbank nexus |
| Notes |
Print version record |
| Subject |
Monetary policy.
|
|
Collateralized debt obligations.
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|
Collateralized debt obligations
|
|
Monetary policy
|
| Form |
Electronic book
|
| ISBN |
1299963927 |
|
9781299963924 |
|
9781484389201 |
|
1484389204 |
|
