Reserve Option Mechanism
Recently, Central Bank of Turkey designed new policy instruments in order to reduce the adverse impact of volatile capital flows on macroeconomic and financial stability. This note is aims to introduce one of the new instruments: “Reserve Option Mechanism” (ROM). We describe the transmission channel of the ROM and compare it with alternative instruments. Our analysis concludes that ROM has the potential to be a useful policy tool for macroeconomic and financial stability.
|Date of creation:||2012|
|Date of revision:|
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