Capitalizing Central Banks [electronic resource] : A Net Worth Approach, Ize, Alain.
- Washington, D.C. : International Monetary Fund, 2005.
- IMF eLibrary
IMF Working Papers; Working Paper No. 05/15.
IMF Working Papers; Working Paper No. 05/15
- Government document
1 online resource (25 p.)
- Local subjects:
- Central bank.
Central Banks and Their Policies.
Monetary Policy (Targets, Instruments, and Effects).
Public debt management.
- This paper provides a simple, quantitative, net worth-based, approach to assessing the need for central bank capital. It derives a concept of ""core capital"" (a function of the central bank''s operating expenditures and the carrying cost of its international reserves) as the minimum capital needed by a central bank to ensure the credibility of its inflation target. The approach is illustrated with the published accounts of three loss-making central banks and selected accounting entries for a broader sample of central banks. Policy implications are explored. In particular, the paper argues that central bank capitalizations cannot be automatic and require instead a broad policy debate.
- Description based on print version record.
- Ize, Alain.
- Other format:
- Print Version:
- Publisher Number:
- Access Restriction:
- Restricted for use by site license.
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