...
  • 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>Canadian Journal of Economics >Estimating the demand for settlement balances in the Canadian Large Value Transfer System: How much is too much?
【24h】

Estimating the demand for settlement balances in the Canadian Large Value Transfer System: How much is too much?

机译：估计加拿大大价值转移系统中对结算余额的需求：多少是多少？

获取原文
获取原文并翻译 | 示例
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

This paper applies a static model of an interest rate corridor to the Canadian data and estimates the aggregate demand for central bank settlement balances in the Large Value Transfer System (LVTS). The analysis takes into account the downward divergence of the overnight interest rate from the target rate, which has been persistent since 2005. The results suggest that a target of $3,000,000,000 for LVTS settlement balances does not seem excessive during the time period when Canadian monetary policy was operating at the effective lower bound (ELB). In addition, the estimation shows that the point elasticity of overnight interest rate is around 0.17 in the ELB framework.
机译：本文将利率走廊的静态模型应用于加拿大数据，并估计了大价值转移系统（LVTS）中对中央银行结算余额的总需求。该分析考虑了隔夜利率与目标利率的向下差异，该比率自2005年以来一直存在。结果表明，在加拿大货币政策制定期间，LVTS结算余额的30亿美元的目标似乎并不算过高。在有效下限（ELB）下运行。此外，估计显示，在ELB框架中，隔夜利率的点弹性约为0.17。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号