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A cash rate system for implementing monetary policy

Contents:

Author Info

  • David Archer
  • Andy Brookes
  • Michael Reddell

    (Reserve Bank of New Zealand)

Abstract

This article explains in greater depth a number of considerations relevant to the decision announced on 8 February to adopt an Official Cash Rate as the Bank's primary instrument for implementing monetary policy.

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File URL: http://www.rbnz.govt.nz/research_and_publications/reserve_bank_bulletin/1999/1999mar62_1ArcherBrookesReddell.pdf
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Bibliographic Info

Article provided by Reserve Bank of New Zealand in its journal Reserve Bank of New Zealand Bulletin.

Volume (Year): 62 (1999)
Issue (Month): (March)
Pages:

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Handle: RePEc:nzb:nzbbul:march1999:3

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Cited by:
  1. Oxley, Les & Reale, Marco & Wilson, Granville Tunnicliffe, 2009. "Constructing structural VAR models with conditional independence graphs," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 79(9), pages 2910-2916.
  2. Alfred Guender & Bevan Cook, 2011. "Monetary policy implementation and uncovered interest parity: Empirical evidence from Oceania," New Zealand Economic Papers, Taylor & Francis Journals, vol. 45(3), pages 209-229, January.
  3. Andy Brookes & Tim Hampton, 2000. "The Official Cash Rate one year on," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 63, June.
  4. Iris Claus & Christie Smith, 1999. "Financial intermediation and the monetary transmission mechanism," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 62, December.
  5. Abbas Valadkhani, 2003. "Long and Short-Run Determinants of Money Demand in New Zealand: Evidence from Cointegration Analysis," School of Economics and Finance Discussion Papers and Working Papers Series 132, School of Economics and Finance, Queensland University of Technology.
  6. Jonathan Kearns & Phil Manners, 2006. "The Impact of Monetary Policy on the Exchange Rate: A Study Using Intraday Data," International Journal of Central Banking, International Journal of Central Banking, vol. 2(4), December.
  7. Michael Woodford, 2001. "Monetary policy in the information economy," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 297-370.
  8. Dr Don Brash, 2001. "Should the Reserve Bank have eased as fast as the Federal Reserve?," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 64, June.
  9. Andy Brookes, 1999. "Monetary policy and the Reserve Bank balance sheet," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 62, December.
  10. Guender, Alfred V. & Rimer, Oyvinn, 2008. "The implementation of monetary policy in New Zealand: What factors affect the 90-day bank bill rate?," The North American Journal of Economics and Finance, Elsevier, vol. 19(2), pages 215-234, August.
  11. Leo Krippner & Michael Gordon, 2001. "Market expectations of the Official Cash Rate," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 64, June.
  12. Michael Woodford, 2000. "Monetary Policy in a World Without Money," NBER Working Papers 7853, National Bureau of Economic Research, Inc.
  13. Willy Chetwin, 2012. "Business cycle review, 1998-2011," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 75, pages 14-27, March.
  14. Michael Gordon, 2003. "Estimates of time-varying term premia for New Zealand and Australia," Reserve Bank of New Zealand Discussion Paper Series DP2003/06, Reserve Bank of New Zealand.
  15. Tim Hampton, 1999. "Intra-day liquidity and real-time gross settlement - 18 months on," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 62, December.
  16. Jan Frazer, 2004. "Liquidity management in the New Zealand banking system," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 67, December.

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