Central bank transparency and cross-border banking
نویسندگان
چکیده
منابع مشابه
Central Bank Transparency and Monetary Policy Effectiveness
The paper concentrates on the conditions, contingencies and determinants of central bank transparency and communication. From the state of the economy and the quality of national institutions, to the structure of monetary policy committees, the personality of the governor and the nature of the monetary policy framework - with a particular focus on the case of inflation targeting, there i...
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Central bank communication plays an important role in shaping market participants’ expectations. This paper studies a simple nonlinear model of monetary policy in which agents have incomplete information about the economic environment. It shows that agents’ learning and the dynamics of the economy are heavily affected by central bank transparency about its policy rule. A central bank that does ...
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We investigate global factors associated with bank capital ows. We formulate a model of the international banking system where global banks interact with local banks. The solution highlights the bank leverage cycle as the determinant of the transmission of nancial conditions across borders through banking sector capital ows. A distinctive prediction of the model is that local currency apprec...
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Over the past two decades, central banks throughout the world have been moving towards greater transparency about policy decisions, the targets that they seek to achieve through those decisions, and their economic outlook of likely future changes. The Central Bank transparency is likely to be of great importance in increasing the effectiveness of monetary policy and reducing macroeconomic volat...
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We examine the impact of cross-border bank flows on recipient countries’ systemic risk. Using data on bank flows from 26 source countries to 119 recipient countries, we find that bank flows are associated with improved financial stability (i.e. lower systemic risk) in the recipient country. The impact of bank flows is stronger in recipient countries with weak regulatory quality and fragile bank...
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ژورنال
عنوان ژورنال: Journal of International Money and Finance
سال: 2017
ISSN: 0261-5606
DOI: 10.1016/j.jimonfin.2017.02.030