Do Central Banks Need Capital?

Do Central Banks Need Capital?
Central banks may operate perfectly well without capital as conventionally defined. A large negative net worth, however, is likely to compromise central bank independence and interfere with its ability to attain policy objectives. If society values an independent central bank capable of effectively implementing monetary policy, recapitalization... READ MORE...

Publication date: July 1997
ISBN 9781451850505
$15.00

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