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Larger Central Bank Balance Sheets: A New Normal for Monetary Policy?

In: Asset Management at Central Banks and Monetary Authorities

Author

Listed:
  • Srichander Ramaswamy

    (Senior Consultant, European Stability Mechanism)

  • Philip Turner

    (Visitor, NIESR in London, UK and University of Basel)

Abstract

In the “new normal” for monetary policy, central bank balance sheets are likely to be larger and used more actively than before the Global Financial Crisis. Those who manage assets for central banks should take account of the asset and liability choices of many other policy-makers—those responsible for monetary policy, Treasury debt management and financial regulators. Large, diversified and less traditional central bank balance sheets have advantages.

Suggested Citation

  • Srichander Ramaswamy & Philip Turner, 2020. "Larger Central Bank Balance Sheets: A New Normal for Monetary Policy?," Springer Books, in: Jacob Bjorheim (ed.), Asset Management at Central Banks and Monetary Authorities, edition 1, chapter 0, pages 41-54, Springer.
  • Handle: RePEc:spr:sprchp:978-3-030-43457-1_3
    DOI: 10.1007/978-3-030-43457-1_3
    as

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