While some of the chapters address the recent crisis as well as adjustments to the Basel Accord, others analyze the required changes to the conduct of monetary and fiscal policies. The distinguished authors offer an in-depth and comprehensive analysis of macroeconomics and providealternative policies to deal with a number of persistent modern-day problems.The Bank of Canada has complete discretion over these intervention techniques (known as repos and reverse repos in the United States). ... This is because market participants know that the central bank has the ability to hit the target rate of interest and also stands ready to do so. More often than not, the simple announcement of a change in the operating band/ interest rate target is sufficient to impact onanbsp;...
|Title||:||Credit, Money and Macroeconomic Policy|
|Author||:||Claude Gnos, Louis-Philippe Rochon|
|Publisher||:||Edward Elgar Publishing - 2011-01-01|