Central Bank Balance Sheet and Real Business Cycle

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Chapter 1: Global Genesis of the Central Bank 1 1.1 Origin of the Central Bank 1 1.2 Roles of the Central Bank 1 Questions 3 Chapter 2: Relevance of the Central Bank Balance Sheet 5 2.1 Understanding Relevance of Central Bank Balance Sheet in Functions of Economy 5 2.1.1 Similarities and Differences between a Company's Balance Sheet and a Central Bank Balance Sheet 5 2.2 Trajectory Relevance of the Central Bank Balance Sheet 8 2.3 Externality of the Central Bank Balance Sheet Size 12 Questions 13 Chapter 3: Components of Central Bank Balance Sheets 15 3.1 Factors Influence the Reporting Frequency of Central Bank Balance Sheets 17 3.2 Components of Central Bank Assets and their Composition Analysis 18 3.2.1 Foreign Assets 18 3.3 Components of Central Bank Liabilities and their Composition Analysis 20 3.3.1 Banknotes 21 3.3.2 Commercial Bank Reserves 23 3.3.3 Capital 23 Questions 25 Chapter 4: Analytical Framework of Central Bank Balance Sheets 27 4.1 Structure of Central Bank Balance Sheets 27 4.2 Balance Sheet Indicators 28 4.2.1 Computation of Indicators 28 4.2.2 Significance of these Indicators 29 4.2.3 Underlying Assumptions of Four Indicators 29 4.3 Determinants of Central Bank Balance Sheet Composition 30 4.4 Classification of Central Bank Balance Sheet Components 31 4.5 Theoretical Landscape: Quantity Theory of Money versus Quality Theory of Money 32 4.5.1 Quantity Theory of Money 32 4.5.2 Quality Theory of Money 34 Questions 39 Chapter 5: Evolution of Central Bank Balance Sheets and Their Heterogeneous Dimensions 41 5.1 What Makes Central Bank Balance Sheets Special? 41 5.2 Historic Uses of Central Bank Balance Sheets 43 5.3 Composition of Central Bank Balance Sheet Liabilities 44 5.3.1 Central Bank Liabilities in Normal Times 45 5.3.2 Snapshot of Selected Economies' Performance before the 2007-008 Crisis 46 5.3.3 Country-by-Country Snapshots of Economic Structure Since 2005 47 5.3.4 A Look at the Balance Sheets: 2005 and 2006 56 5.3.5 Snapshot of Selected Economies' Performance during the 2007-008 Crisis 65 5.3.6 Snapshot of Selected Economies' Performance Today 74 5.3.7 Central Bank Liabilities Today 78 Conclusion 86 Questions 86 Chapter 6: Composition of Central Bank Balance Sheet Assets 87 6.1 Central Bank Assets in Normal Times 87 6.1.1 Central Bank Assets of Emerging Economies 95 6.2 Central Bank Assets During the 2007-2008 Crisis 96 6.2.1 Central Bank Assets of Developing and Emerging Economies during the 2007-2008 Crisis 104 6.3 Central Bank Assets Today 104 6.3.1 Central Bank Assets of Emerging Economies Today 112 6.4 Asset-Side Composition and Economic Growth Nexus 115 6.4.1 Asset- Growth Nexus before the 2007-2008 Crisis 115 6.4.2 Asset-Growth Nexus during the 2007-2008 Crisis 116 6.4.3 Asset-Growth Nexus after the 2007-2008 Crisis 116 6.5 The Evolution of Central Bank Balance Sheets in the Future 117 Questions 119 Chapter 7: Financial Ratios of the Central Bank Balance Sheet 121 7.1 International Strength 121 7.2 External Strength Ratio 122 7.3 External Impact Ratio 123 7.4 Liquidity Ratios I, II, and III 123 7.4.1 Liquidity Ratio I 124 7.4.2 Liquidity Ratio II 124 7.4.3 Liquidity Ratio III 124 7.5 Equity Ratio 125 Questions 126 Chapter 8: Central Bank Operations 127 8.1 Types of Central Bank Operations 127 8.1.1 Supply Liquidity 127 8.1.2 Absorb Excess Liquidity 127 8.1.3 Asset Securities 128 8.1.4 Off Balance Swap 131 8.2 Central Bank Policy Instruments 131 8.2.1 Open Market Operations 131 8.2.2 Reserve Requirements 132 8.2.3 Discount Rate 134 8.2.4 Money Market Investor Funding Facility 135 8.2.5 Term Auction Facility 136 8.2.6 Commercial Paper Funding Facility 137 8.2.7 Primary Dealer Credit Facility 140 8.2.8 Recap of Policy

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• Année de publication: 2018
• Reliure: (souple)