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Asymmetric standing facilities : an unexploited monetary policy tool

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Issue Date
2010
Physical description
37 p. : tab., gráf.
Abstract
This paper analyzes the role of standing facilities in the determination of the demand for reserves in the overnight money market. In particular, we study how the asymmetric nature of the deposit and lending facilities could be used as a powerful policy tool for the simultaneous control of prices and quantities in the market for daily funds
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Documentos de trabajo / Banco de España, 1004
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