This paper evaluates the strength of the balance sheet channel in the U.S. monetary policy transmission mechanism over the past three decades. Using a Factor-Au

Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the internation

This book discusses wide topics related to current issues in economic growth and development, international trade, macroeconomic and financial stability, inflat

An introduction to the way that central banks implement monetary policy through market operations. It explains monetary policy operations in normal times, revie

The limited supply of government securities in some industrial countries has important ramifications for the operating techniques used by central banks to imple