IMF paper offers ‘complete set of tools’ to model 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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