 | Asset Purchases and Direct Financing: Guiding Principles for Emerging Markets and Developing Economies during COVID-19 and Beyond Author/Editor: Tobias Adrian, Christopher J Erceg, Simon T Gray, Ratna Sahay. Release Date:October, 2021 Many central banks in emerging market and developing economies have used asset purchases to reduce financial stresses during the COVID crisis, and some are doing so to provide macroeconomic stimulus. more...
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 | Recognizing Reality—Unification of Official and Parallel Market Exchange Rates Author/Editor: Simon T Gray. Release Date:February, 2021 Some central banks have maintained overvalued official exchange rates, while unable to ensure that supply of foreign exchange meets legitimate demand for current account transactions at that price. A more...
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| The Lender of Last Resort Function after the Global Financial Crisis Author/Editor: Marc Dobler, Simon Gray, Diarmuid Murphy, Bozena Radzewicz-Bak. Release Date:January, 2016 The global financial crisis (GFC) has renewed interest in emergency liquidity support (sometimes referred to as “Lender of Last Resort”) provided by central banks to financial more...
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| Issuance of Central Bank Securities : International Experiences and Guidelines Author/Editor: Simon Gray, Runchana Pongsaparn. Release Date:May, 2015 The paper discusses the reasons for central bank (CB) issuance of securities, and reasons for
 choosing different approaches e.g. in maturities and target market. It provides evidence more...
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| Are Banks Really Lazy? Evidence from Middle East and North Africa Author/Editor: Simon T Gray, Philippe D Karam, Rima A Turk. Release Date:May, 2014 We investigate whether low loan-to-deposit (LTD) ratios and high levels of reserve balances at the central bank (or holdings of government securities) are a reflection of policy-driven factors more...
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| Monetary Issues in the Middle East and North Africa Region : A Policy Implementation Handbook for Central Bankers Author/Editor: Simon T Gray, Philippe D Karam. Release Date:May, 2013 This paper documents the main themes covered in two seminars (December 2011 and September 2012) on monetary policy and implementation at the IMF—Middle East Center for Economics and more...
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| Developing Asean5 Bond Markets : What Still Needs to Be Done? Author/Editor: Simon Gray, Andreas Jobst, Joshua Felman, Ana Carvajal. Release Date:June, 2011 This paper examines a range of issues relating to bond markets in the ASEAN5 (Indonesia, Malaysia, Philippines, Singapore and Thailand) - physical infrastructure including trading, clearing and more...
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| Asean Bond Market Development : Where Does it Stand? Where is it Going? Author/Editor: Mahmood Pradhan, Shanaka J. Peiris, Mangal Goswami, Dulani Seneviratne, Joshua Felman, Andreas Jobst, Simon Gray. Release Date:June, 2011 Since the Asian crisis, ASEAN5 countries have expended considerable effort in trying to develop their domestic bond markets. Yet today these markets are not much larger, relative to GDP, than they more...
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| Central Bank Balances and Reserve Requirements Author/Editor: Simon Gray. Release Date:February, 2011 Most central banks oblige depository institutions to hold minimum reserves against their liabilities, predominantly in the form of balances at the central bank. The role of these reserve requirements more...
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| Central Bank Response to the 2007–08 Financial Market Turbulence : Experiences and Lessons Drawn Author/Editor: Peter Stella, Seiichi Shimizu, Simon Gray, Ulrich H. Klueh, Alexandre Chailloux. Release Date:September, 2008 The paper reviews the policy response of major central banks during the 2007–08 financial market turbulence and suggests that there is scope for convergence among central bank more...
| Price: $18.00
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