Relationship Between Short-Term Interest Rates and Excess Reserves /
This paper models the relationship between short-term rates and excess reserves in an interest rate corridor as a logistic function estimated for the Eurosystem. The estimate helps to identify conditions in which short-term rates become unanchored, that is, they move away from the policy rates and b...
Main Authors: | , , |
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Format: | Book |
Language: | English |
Published: |
[Washington, D.C.] :
International Monetary Fund,
[2018]
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Series: | IMF working paper ;
WP/18/80 |
Subjects: |