Working PaPer SerieS no 1273 / DeCeMBer 2010: intereSt rate effeCtS of DeMograPhiC ChangeS in a neW-keyneSian life-CyCle fraMeWork
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The smooth functioning of the money market depends critically on brokers and
dealers, who play a key role in marketing new issues of money market instruments and in providing
secondary markets where outstanding issues can be sold prior to maturity. Dealers use RPs to finance their
inventories of securities. Dealers also act as intermediaries between other participants in the RP market by
making loans to those wishing to borrow in the market and borrowing from those wishing to lend in the
market.
Brokers match buyers and sellers of money market instruments on...
Nội dung trích xuất từ tài liệu:
Working PaPer SerieS no 1273 / DeCeMBer 2010: intereSt rate effeCtS of DeMograPhiC ChangeS in a neW-keyneSian life-CyCle fraMeWork
Nội dung trích xuất từ tài liệu:
Working PaPer SerieS no 1273 / DeCeMBer 2010: intereSt rate effeCtS of DeMograPhiC ChangeS in a neW-keyneSian life-CyCle fraMeWork
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