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|c 5.00 USD
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|z 9781451847864
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Mendez Morales, Armando.
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|a Monetary Implications of Cross-Border Derivatives for Emerging Economies /
|c Armando Mendez Morales.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2001.
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| 300 |
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|a 1 online resource (40 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper surveys concepts, practices and analytical literature to assess benefits and risks for monetary stability of cross-border currency and interest rate derivative operations in calm and turbulent periods, with a view of extracting implications for emerging economies. Monetary authorities must prevent one-sided positions in the currency, favor asset substitutability, and incorporate the enriched information set provided by derivative-based transactions into monetary policy design. In some circumstances, the use of derivatives by monetary authorities may help fulfill this role. By contrast, surcharges to compensate for a downward impact of derivatives on the cost of capital appear neither advisable nor necessary.
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|a Mode of access: Internet
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|a IMF Working Papers; Working Paper ;
|v No. 2001/058
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2001/058/001.2001.issue-058-en.xml
|z IMF e-Library
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