Phân tích tư tưởng của nhân dân qua đoạn thơ: Những người vợ nhớ chồng… Những cuộc đời đã hóa sông núi ta trong Đất nước của Nguyễn Khoa Điềm
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Thinking about the zero bound this way suggests that
variable interest on reserves could be utilized routinely and
productively as an instrument of monetary policy. The Fed
could replace its current operating procedures with a new
interest-on-reserves regime. For heuristic purposes, I describe
the implementation of the new regime in two steps, although
the steps would take place simultaneously in practice. First, the
Fed would purchase additional securities in the open market,
adding enough reserves to satiate the market and drive the
federal funds rate to zero. The Bank of Japan actually
implemented this step recently with its zero interest...
Nội dung trích xuất từ tài liệu:
INTEREST RATE SWAPS: RISK AND REGULATION
