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...
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Other Authors: | , |
Format: | Book |
Language: | English |
Published: |
Washington, D.C. :
International Monetary Fund,
2018
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Series: | IMF Working Papers; Working Paper ;
No. 18/80 IMF eLibrary |
Subjects: |