IMF paper offers ‘complete set of tools’ to model reserves demand

Authors say theirs is the first complete modelling framework for reserves demand

liquidity tap

Research published by the International Monetary Fund offers central banks a new toolkit for modelling reserves demand.

Authors Zhuohui Chen, Nikolaos Kourentzes and Romain Veyrune say they believe their paper is the first to offer central banks a “complete set of tools” to determine reserves demand, which is critical to monetary policy implementation.

The paper may support central banks looking to transition to a different framework for monetary operations, or to forecast demand more

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