Reserve managers made financial crisis worse for central banks – paper
Synchronised withdrawal of funds from commercial banks made central bank stabilisation efforts “more difficult”
A paper published by the International Monetary Fund claims reserve managers made central banks’ jobs harder during the global financial crisis.
In his paper Central bank reserve management and international stability – some post-crisis reflections, Bradley Jones examines the “tensions” between the domestic and international financial stability obligations of central banks during the crisis.
“The vigorous countercyclical policy response of central banks in the world’s major financial centres
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