Liquidity Ratios as Monetary Policy Tools: Some Historical Lessons for Macroprudential Policy

Liquidity Ratios as Monetary Policy Tools: Some Historical Lessons for Macroprudential Policy
This paper explores what history can tell us about the interactions between macroprudential and monetary policy. Based on numerous historical documents, we show that liquidity ratios similar to the Liquidity Coverage Ratio (LCR) were commonly used as monetary policy tools by central banks between the 1930s and 1980s. We build a model that... READ MORE...

Publication date: August 2019
ISBN 9781498320474
$18.00

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