Anatomy of liquidity management
By: Sen Gupta, Indranil et al.
Material type:
ArticlePublisher: 2000Description: p.291-321.Subject(s): Money | Liquidity
In:
Reserve Bank of India Occasional PapersSummary: The management of liquidity poses a major challenge to the conduct of monetary policy in an environment of financial liberalisation. Recent research has attempted to assess liquidity conditions in the market for bank reserves in terms of central bank balance sheet flows. This paper constructs the concepts of autonomous liquidity (AL) and discretionary liquidity (DL) in the Indian context and finds that there is a systemic response in the Reserve Bank's discretionary operations to offset `autonomous' shocks to the market for bank reserves. - Reproduced.
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Articles
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Indian Institute of Public Administration | Volume no: 21, Issue no: 2-3 | Available | AR56581 |
The management of liquidity poses a major challenge to the conduct of monetary policy in an environment of financial liberalisation. Recent research has attempted to assess liquidity conditions in the market for bank reserves in terms of central bank balance sheet flows. This paper constructs the concepts of autonomous liquidity (AL) and discretionary liquidity (DL) in the Indian context and finds that there is a systemic response in the Reserve Bank's discretionary operations to offset `autonomous' shocks to the market for bank reserves. - Reproduced.
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