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1.
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This paper explores the reliability of using prices of credit default swap contracts (CDS) as indicators of default probabilities during the 2007/2008 financial crisis. W[...]
2011 | Text | Staff Working Paper - Document de travail du personnel |
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2.
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Recent studies on counterfeiting in a monetary search framework show that counterfeiting does not occur in a monetary equilibrium. These findings are inconsistent with th[...]
2011 | Text | Staff Working Paper - Document de travail du personnel |
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3.
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Recent studies in monetary theory show that if buyers can use lotteries to signal the quality of bank notes, counterfeiting does not occur in a pooling equilibrium. In th[...]
2013 | Text | Staff Working Paper - Document de travail du personnel |
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4.
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This paper examines the interaction between monetary policy and macroprudential policy and whether policy makers should respond to financial imbalances. To address this i[...]
2012 | Text | Staff Working Paper - Document de travail du personnel |
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5.
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This paper studies the interdependence between fiscal and monetary policy in a DSGE model with sticky prices and non-zero trend inflation. We characterize the fiscal and [...]
2008 | Text | Staff Working Paper - Document de travail du personnel |
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6.
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Given the increasing interdependence of both financial systems and attendant payment and settlement systems a vital question is what form should optimal policy take when [...]
2008 | Text | Staff Working Paper - Document de travail du personnel |
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7.
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This paper develops a model of settlement system to study the endogenous structure of settlement networks, and the welfare consequences of clearing agent failure. The equ[...]
2008 | Text | Staff Working Paper - Document de travail du personnel |
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This paper studies the interdependence between fiscal and monetary policies, and their joint role in the determination of the price level. The government is characterized[...]
2007 | Text | Staff Working Paper - Document de travail du personnel |
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9.
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Payments systems play a fundamental role in an economy by providing the mechanisms through which payments arising from transactions can be settled. The existing literatur[...]
2007 | Text | Staff Working Paper - Document de travail du personnel |
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10.
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Financial innovations and the removal of the reserve requirements in the early 1990s have made the distinction between demand and notice deposits arbitrary. This classifi[...]
2006 | Text | Staff Working Paper - Document de travail du personnel |
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