IDEAS home Printed from https://ideas.repec.org/p/rnp/wpaper/21311.html
   My bibliography  Save this paper

The Liquidity Management of the Banking Sector and the Short-Term Money Market Interest Rates
[Управление Ликвидностью Банковского Сектора И Краткосрочной Процентной Ставкой Денежного Рынка]

Author

Listed:
  • Morgunov, V.I. (Моргунов, В.И.)

    () (Russian Presidential Academy of National Economy and Public Administration (RANEPA))

Abstract

In the modern world the most common method of monetary policy implementation is to control short-term money market interest rates. This paper discusses methodological and theoretical foundations of such policy, its instruments and procedures. The focus is on the method of monetary policy, that is called a symmetric interest rate corridor. The author investigates the role of open market operations and standing facilities, analyses the problem of forecasting the liquidity needs of the banking sector. The experience of the Bank of Russia in the management of short-term money market interest rates is analyzed on the base of modern theoretical concepts.

Suggested Citation

  • Morgunov, V.I. (Моргунов, В.И.), 2016. "The Liquidity Management of the Banking Sector and the Short-Term Money Market Interest Rates
    [Управление Ликвидностью Банковского Сектора И Краткосрочной Процентной Ставкой Денежного Рынка]
    ," Working Papers 21311, Russian Presidential Academy of National Economy and Public Administration.
  • Handle: RePEc:rnp:wpaper:21311
    as

    Download full text from publisher

    File URL: ftp://w82.ranepa.ru/rnp/wpaper/21311.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. McKibbin, Warwick J & Vines, David, 2000. "Modelling Reality: The Need for Both Inter-temporal Optimization and Stickiness in Models for Policy-Making," Oxford Review of Economic Policy, Oxford University Press, vol. 16(4), pages 106-137, Winter.
    2. Gaigné, Carl & Wooton, Ian, 2011. "The gains from preferential tax regimes reconsidered," Regional Science and Urban Economics, Elsevier, vol. 41(1), pages 59-66, January.
    3. Tim Holst Celik, 2014. "Does the Richness of the Few Benefit Us All? by Zygmunt Bauman . Cambridge : Polity Press , 2013 . 101pp., £9.99, ISBN 978 0 7456 7109 3," Political Studies Review, Political Studies Association, vol. 12(3), pages 402-403, September.
    4. Ariane Berthoin Antal & André Sobczak, 2014. "Leadership pour l’apprentissage organisationnel de la responsabilité globale : Le modèle du facilitateur actif," Post-Print hal-01132044, HAL.
    5. Gary Gorton & Frank Schmid, 2000. "Class Struggle Inside the Firm: A Study of German Codetermination," Center for Financial Institutions Working Papers 00-36, Wharton School Center for Financial Institutions, University of Pennsylvania.
    6. Jean-Michel Sourisseau & Nathalie Bougnoux & Jean-François Belieres & Robin Bourgeois & Mamy Soumaré & Patrick Rasolofo, 2017. "Imaginer l’avenir des territoires pour relever les défis de la démographie et de l’emploi en Afrique subsaharienne," Post-Print hal-01666368, HAL.
    7. Florian Misch & Norman Gemmell & Richard Kneller, 2014. "Using surveys of business perceptions as a guide to growth-enhancing fiscal reforms," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 22(4), pages 683-725, October.
    8. anonymous, 1992. "Comment requested," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Feb, pages 126-126.
    9. Goodhart, Charles A E, 1994. "What Should Central Banks Do? What Should Be Their Macroeconomic Objectives and Operations?," Economic Journal, Royal Economic Society, vol. 104(427), pages 1424-1436, November.
    10. Manolescu, Gheorghe, 2009. "Finantarea sustenabila a protectiei mediului," Papers 2009/105, Osterreichish-Rumanischer Akademischer Verein.
    11. W. Edwin Harris & Jeffrey R. Lucas, 2002. "A state-based model of sperm allocation in a group-breeding salamander," Behavioral Ecology, International Society for Behavioral Ecology, vol. 13(5), pages 705-712, September.
    12. Mario Sarcinelli, 2006. "La Costituzione italiana e la moneta: un incontro mancato," Rivista di Politica Economica, SIPI Spa, vol. 96(4), pages 83-106, July-Augu.
    13. Thierry Nobre & Lionel Signolet, 2009. "Le Systeme D'Information De Gestion Hospitalier : Quelles Caracteristiques Privilegier Pour Favoriser Le Developpement Des Outils En Controle De Gestion ?," Post-Print halshs-00459405, HAL.
    14. Philipp Maier & Saskia Bezoen, 2002. "Central bank bashing: The case of the European Central Bank," MEB Series (discontinued) 2002-18, Netherlands Central Bank, Monetary and Economic Policy Department.
    15. Arias Duval, Martín, 2011. "Politica migratoria argentina: lineamientos y procesos de implementación," Seminarios y Conferencias 7006, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    16. Boonrod Sajjakulnukit, 2003. "National biomass energy program in Thailand," International Journal of Energy Technology and Policy, Inderscience Enterprises Ltd, vol. 1(4), pages 449-466.
    17. Alex Bryson & John Forth & Minghai Zhou, 2012. "CEO Bonding: Who Posts Performance Bonds and Why?," CEP Discussion Papers dp1135, Centre for Economic Performance, LSE.
    18. Kristin J. Forbes & Francis E. Warnock, 2014. "Debt-and Equity-Led Capital Flow Episodes," Central Banking, Analysis, and Economic Policies Book Series,in: Miguel Fuentes D. & Claudio E. Raddatz & Carmen M. Reinhart (ed.), Capital Mobility and Monetary Policy, edition 1, volume 18, chapter 9, pages 291-322 Central Bank of Chile.
    19. Kuwayama, Mikio & Assael, Héctor, 1997. "Industrial and trade policies under the new trading system: toward a comparative analysis between East Asia and Latin America," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 31656, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    20. Debashis Ghosh, 2004. "Semiparametic models and estimation procedures for binormal ROC curves with multiple biomarkers," The University of Michigan Department of Biostatistics Working Paper Series 1038, Berkeley Electronic Press.
    21. HuiChen Chiang, 2007. "Commercial loan borrower's optimal borrowing and prepayment decisions under uncertainty," Applied Economics, Taylor & Francis Journals, vol. 39(8), pages 1013-1020.
    22. Caviglia-Harris, Jill L., 2005. "Cattle Accumulation and Land Use Intensification by Households in the Brazilian Amazon," Agricultural and Resource Economics Review, Cambridge University Press, vol. 34(02), pages 145-162, October.
    23. Erickson, K. Bruce, 1994. "Divergent sums over excursions," Stochastic Processes and their Applications, Elsevier, vol. 54(1), pages 175-182, November.
    24. Ohno, Seizaburo, 1974. "Nobuyoshi Kawashima, A Study on James Steuart," Economic Review, Hitotsubashi University, vol. 25(1), pages 87-89, January.
    25. Nicolás Alejandro Rojas Pardo, 2014. "La corrupción como un mercado más," Divergencia (Artículos Sobre Economía), Universidad Externado de Colombia, May.
    26. Bindseil, Ulrich & Seitz, Franz, 2001. "The supply and demand for Eurosystem deposits - The first 18 months," Working Paper Series 0044, European Central Bank.
    27. Jeworrek, Sabrina & Mertins, Vanessa & Vlassopoulos, Michael, 2018. ""The good news about bad news": Feedback about past organisational failure and its impact on worker productivity," IWH Discussion Papers 1/2018, Halle Institute for Economic Research (IWH).
    28. Kim, Byung-Yeon, 2003. "Informal economy activities of Soviet households: size and dynamics," Journal of Comparative Economics, Elsevier, vol. 31(3), pages 532-551, September.
    29. Axel Mühlbacher & Anika Kaczynski & Peter Zweifel & F. Johnson, 2015. "Experimental measurement of preferences in health and healthcare using best-worst scaling: an overview," Health Economics Review, Springer, vol. 6(1), pages 1-14, December.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    monetary policy; short-term interest rates; money market; symmetric interest rate corridor;

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rnp:wpaper:21311. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (RANEPA maintainer). General contact details of provider: http://edirc.repec.org/data/aneeeru.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.