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Thesis

Essays on the implementation of monetary policy

Abstract:

Chapter 1 builds a two-bank bargaining model of the overnight interbank market in which, due to the commitment of the central bank to its interest rate target, bargaining between banks impacts loan sizes rather than interest rates (the converse of existing models). As a result, policy changes have a different impact to what is posited by existing models.

The model is applied to a market where the commitment of the central bank is well documented (Australia). With reasonable par...

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Division:
SSD
Department:
Economics
Role:
Author

Contributors

Role:
Supervisor
Clarendon Fund More from this funder
Reserve Bank of Australia More from this funder
Merton College More from this funder
Type of award:
DPhil
Level of award:
Doctoral
Awarding institution:
University of Oxford
Language:
English
Keywords:
Subjects:
UUID:
uuid:a6b6e277-6238-4989-aa97-ebf4fe534fb0
Deposit date:
2015-10-18

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