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Central Bank Balance Sheet and Real Business Cycles

Name: Central Bank Balance Sheet and Real Business Cycles
Author: Mustapha Akinkunmi
ISBN: 9781547400591

by Mustapha Akinkunmi

September 2018

Intermediate to advanced

200 pages

5h 50m

English

De Gruyter

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Cover
Title Page
Copyright
Dedication
Contents
Chapter 1: Global Genesis of the Central Bank
1.1 Origin of the Central Bank 1.2 Roles of the Central Bank Questions
Chapter 2: Relevance of the Central Bank Balance Sheet
2.1 Understanding Relevance of Central Bank Balance Sheet in Functions of Economy 2.1.1 Similarities and Differences between a Company’s Balance Sheet and a Central Bank Balance Sheet 2.2 Trajectory Relevance of the Central Bank Balance Sheet 2.3 Externality of the Central Bank Balance Sheet Size Questions
Chapter 3: Components of Central Bank Balance Sheets
3.1 Factors Influence the Reporting Frequency of Central Bank Balance Sheets 3.2 Components of Central Bank Assets and their Composition Analysis 3.2.1 Foreign Assets 3.3 Components of Central Bank Liabilities and their Composition Analysis 3.3.1 Banknotes 3.3.2 Commercial Bank Reserves 3.3.3 Capital Questions
Chapter 4: Analytical Framework of Central Bank Balance Sheets
4.1 Structure of Central Bank Balance Sheets 4.2 Balance Sheet Indicators 4.2.1 Computation of Indicators 4.2.2 Significance of these Indicators 4.2.3 Underlying Assumptions of Four Indicators 4.3 Determinants of Central Bank Balance Sheet Composition 4.4 Classification of Central Bank Balance Sheet Components 4.5 Theoretical Landscape: Quantity Theory of Money versus Quality Theory of Money 4.5.1 Quantity Theory of Money 4.5.2 Quality Theory of Money Questions
Chapter 5: Evolution of Central Bank Balance Sheets and Their Heterogeneous Dimensions
5.1 What Makes Central Bank Balance Sheets Special? 5.2 Historic Uses of Central Bank Balance Sheets 5.3 Composition of Central Bank Balance Sheet Liabilities 5.3.1 Central Bank Liabilities in Normal Times 5.3.2 Snapshot of Selected Economies’ Performance before the 2007–2008 Crisis 5.3.3 Country-by-Country Snapshots of Economic Structure Since 2005 5.3.4 A Look at the Balance Sheets: 2005 and 2006 5.3.5 Snapshot of Selected Economies’ Performance during the 2007–2008 Crisis 5.3.6 Snapshot of Selected Economies’ Performance Today 5.3.7 Central Bank Liabilities Today Conclusion Questions

Chapter 6: Composition of Central Bank Balance Sheet Assets
6.1 Central Bank Assets in Normal Times 6.1.1 Central Bank Assets of Emerging Economies 6.2 Central Bank Assets During the 2007–2008 Crisis 6.2.1 Central Bank Assets of Developing and Emerging Economies during the 2007–2008 Crisis 6.3 Central Bank Assets Today 6.3.1 Central Bank Assets of Emerging Economies Today 6.4 Asset-Side Composition and Economic Growth Nexus 6.4.1 Asset-Growth Nexus before the 2007–2008 Crisis 6.4.2 Asset-Growth Nexus during the 2007–2008 Crisis 6.4.3 Asset-Growth Nexus after the 2007–2008 Crisis 6.5 The Evolution of Central Bank Balance Sheets in the Future Questions
Chapter 7: Financial Ratios of the Central Bank Balance Sheet
7.1 International Strength 7.2 External Strength Ratio 7.3 External Impact Ratio 7.4 Liquidity Ratios I, II, and III 7.4.1 Liquidity Ratio I 7.4.2 Liquidity Ratio II 7.4.3 Liquidity Ratio III 7.5 Equity Ratio Questions
Chapter 8: Central Bank Operations
8.1 Types of Central Bank Operations 8.1.1 Supply Liquidity 8.1.2 Absorb Excess Liquidity 8.1.3 Asset Securities 8.1.4 Off Balance Swap 8.2 Central Bank Policy Instruments 8.2.1 Open Market Operations 8.2.2 Reserve Requirements 8.2.3 Discount Rate 8.2.4 Money Market Investor Funding Facility 8.2.5 Term Auction Facility 8.2.6 Commercial Paper Funding Facility 8.2.7 Primary Dealer Credit Facility 8.2.8 Recap of Policy Instruments Questions
Chapter 9: Real Business Cycles
9.1 The RBC Model 9.1.1 Features of RBC Models 9.1.2 Basic Economic Factors 9.1.3 Fluctuations in the Business Cycle 9.1.4 Boom and Recession 9.2 Concept of RBCs Applied to Economic Policy 9.3 Techniques of Estimating RBCs 9.4 Methods to Estimate Potential Output and Output Gaps 9.4.1 Trending Methods 9.4.2 Univariate Filters Method 9.4.3 Multivariate Filters 9.4.4 Production Function Approaches 9.4.5 Criteria for Evaluating Different Methods of Estimating Potential Output Questions
Chapter 10: Central Bank Balance Sheets and Real Business Cycles
10.1 Linkages between Central Bank Balance Sheets and Real Business Cycles 10.1.1 Monetary Policies and Business Cycles 10.1.2 Identifying an Acceptable Range of Values 10.1.3 Asset Transparency 10.2 Impact Evaluation of Central Bank Balance Sheets on Economic Environment 10.2.1 Central Bank Balance Sheets and Debt Management 10.2.2 Modeling Challenges Confronting Central Bank Balance Sheets Questions
Chapter 11: Conclusion
Questions Left Unanswered: Areas for Future Research Policy Debates
Appendix I: Central Bank Balance Sheets of Different Countries
Asia Region Malaysia’s Central Bank Balance Sheets for the Month of February 2018 Monetary Authority of Singapore Africa Region Nigeria’s Central Bank Balance Sheets for the Month of November 2017 South America Central Reserve Bank of Peru Brazil Chile Argentina North America Mexico Canada United States
Appendix II: Abbreviations
References
Index

Content preview from Central Bank Balance Sheet and Real Business Cycles

Appendix I Central Bank Balance Sheets of Different Countries

The original central bank balance sheets of different countries are provided below to observe variations in terms of asset-side items and liability-side items. In addition, it provides information on how patterns of reporting balance sheets are varied across countries and regions.

Asia Region

Malaysia’s Central Bank Balance Sheets for the Month of February 2018

Assets	RM
Gold and Foreign Exchange and Other Reserves including SDR	419,549,797,551 *
Malaysian Government Papers	4,463,229,458
Deposits with Financial Institutions	5,598,818,970
Loans and Advances	7,493,903,885
Land and Buildings	4,179,614,080
Other Assets	9,516,489,885
450,801,853,829
Capital and Liabilities	RM ...

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